Kanbrick cofounder Tracy Britt Cool compared the meme-stock boom to the Dutch tulip bubble.
"While both speculating and gambling can produce great payoffs and a sea of endorphins, heartbreak is almost sure to eventually follow," the pair continued."Memes and social media are modern inventions, yet our underlying human psychology hasn't evolved much since the Tulip mania of the 1630s." "The siren song of promoters has just become more sophisticated at separating investors from their wallets," they added.
Buffett has struck a similar chord in letters and interviews over the years. The Berkshire Hathaway CEO has urged investors not to treat the stock market like a gambling parlour, place bets with borrowed money, or fall for the promises of shameless promoters. Britt Cool joined Berkshire in 2009 as Buffett's financial assistant, and went on to chair the boards of several Berkshire subsidiaries and serve as the CEO of another one, Pampered Chef. She left the conglomerate to launch Kanbrick, a private equity firm that
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Govt takes drastic action to ease fuel prices, but can SA afford to lose its strategic fuel stocks - again? | Fin24A decision to sell strategic fuel stocks could be considered risky, although its' not clear that South Africa's reserves provide much security of supply anyway. | Fin24 Fin24 May God continue to bless you Mrs LindaStouffes I never beblieve it's going to work out because I have lost a lot in different places I know one day they will face the judgment. I really appreciate LindaStouffes Fin24 They are called atretegic Reserves which can be deployed when they are needed. So we are not in war with anyone the citizens need some relief from this pressure Fin24 IMFNews IFC_org BBCWorld WHO EU_Commission eu_eeas AusGov NewZealandGov EnglandGov MoodysInvSvc stat_world questCNN MinPres NEDemocracy en_germany UKParliament DailyMailUK SwedenUN swiss_un FBI FitchRatings UN
Source: News24 - 🏆 4. / 80 Read more »
Business Maverick: U.S. Recession Seen Most Likely to Start Next Year: SurveyThe U.S. is poised for recession most likely in 2023 and bank stocks are expected to fall behind the broader market, according to 525 respondents to the Markets Live weekly survey.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: U.S. Bonds, Stocks Sink as Rate-Hike Bets Ramp Up: Markets WrapThe U.S. bond selloff deepened and stocks declined on Wednesday as investors positioned for a stepped-up campaign of monetary tightening by the Federal Reserve to tackle high inflation.
Source: dailymaverick - 🏆 3. / 84 Read more »
MARKET WRAP: Russia and US economy pull JSE lowerBanking stocks hit hardest as Deutsche warns of recession in wake of sustained rate hikes by the Federal Reserve
Source: BDliveSA - 🏆 12. / 63 Read more »