Free Republic

- CPI surged 0.8% MoM (4 times the +0.2% expected) and exploded 4.2% YoY. That is the biggest YoY jump since Sept 2008 (and biggest MoM jump since June 2008). - The core CPI rose 3.0% over the past 12 months; this was its largest 12-month increase since January 1996. - This spooked investors. Contracts for the Nasdaq 100, which is dominated by technology, fell sharply, while those for the benchmark S&P 500 also declined significantly.

Warren Buffett has given up his long-held conviction against buying gold — and he’s meanwhile getting out of Goldman Sachs. The totemic tycoon revealed in filings late last week that he has scooped up more than 20 million shares of mining giant Barrick Gold Corp. even as he unloaded nearly all of his nearly 2 million shares in Goldman Sachs. The 89-year-old investing icon’s sudden embrace of the precious yellow metal — which has has previously derided as “useless,” saying that “anyone watching from Mars would be scratching their head” at the idea of investing in it — took many...

A 95% plunge in passengers. Billions in losses. A rush for new debt. A recovery that executives expect to take years. Coronavirus is roiling the airline industry and the Oracle of Omaha has seen enough. Warren Buffett told investors Saturday that Berkshire Hathaway has sold its entire stakes in the four largest U.S. airlines — American, Delta, Southwest, United — as the pandemic upends another bet on the sector that the famed investor had shunned for years before a surprise return in 2016. “And it turned out I was wrong about that business because of something that was not in...