Warren Buffett has long warned investors that owning stocks means being prepared for steep declines, even when the underlying businesses remain strong.
Speaking at Berkshire Hathaway’s ($BRK.B) 2020 annual meeting, Buffett said investors should not expect to consistently or perfectly time purchases.
“You’re not going to pick the bottom, and nobody else can pick it for you,” Buffett said.
He argued that investors should be psychologically prepared for stocks to fall 50% or more after they buy them, noting that Berkshire itself has experienced declines of roughly that magnitude several times without a fundamental problem in the business.
Buffett said the bigger risks are excessive borrowing and emotional decision-making.
“If you can’t handle it psychologically, then you really shouldn’t own stocks,” he said, warning that investors who panic during downturns often end up buying and selling at the wrong times.
He also emphasized the importance of understanding investments independently rather than relying on constant outside opinions.
Buffett’s message remains relevant as markets face renewed volatility. The iShares Semiconductor ETF ($SOXX) recently plunged 12.8% in a single session before rebounding.
Market views remain divided. Fundstrat’s Tom Lee has argued that fears around AI and policy shocks are being exaggerated, while Peter Schiff has warned that higher spending, deficits, regulation, inflation and interest rates could pressure stocks further.
Buffett’s broader lesson is that long-term investing requires accepting volatility rather than trying to avoid every downturn.
Speaking at Berkshire Hathaway’s ($BRK.B) 2020 annual meeting, Buffett said investors should not expect to consistently or perfectly time purchases.
“You’re not going to pick the bottom, and nobody else can pick it for you,” Buffett said.
He argued that investors should be psychologically prepared for stocks to fall 50% or more after they buy them, noting that Berkshire itself has experienced declines of roughly that magnitude several times without a fundamental problem in the business.
Buffett said the bigger risks are excessive borrowing and emotional decision-making.
“If you can’t handle it psychologically, then you really shouldn’t own stocks,” he said, warning that investors who panic during downturns often end up buying and selling at the wrong times.
He also emphasized the importance of understanding investments independently rather than relying on constant outside opinions.
Buffett’s message remains relevant as markets face renewed volatility. The iShares Semiconductor ETF ($SOXX) recently plunged 12.8% in a single session before rebounding.
Market views remain divided. Fundstrat’s Tom Lee has argued that fears around AI and policy shocks are being exaggerated, while Peter Schiff has warned that higher spending, deficits, regulation, inflation and interest rates could pressure stocks further.
Buffett’s broader lesson is that long-term investing requires accepting volatility rather than trying to avoid every downturn.
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McDonald's ($MCD) and Uber ($UBER) are expanding their partnership across 14 markets, making Uber the preferred delivery partner for orders placed through the McDonald's app.
The deal also expands loyalty rewards, including discounts on Uber rides.
benzinga.com/news/restauran…
The deal also expands loyalty rewards, including discounts on Uber rides.
benzinga.com/news/restauran…
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Ethereum co-founder Vitalik Buterin (@VitalikButerin) argued that the network should put more emphasis on Ether's ($ETH) role as a store of value, challenging the idea that token burning should dominate its investment narrative.
In a Sunday thread, he said Ethereum should retain introduced in 2021 that destroys part of transaction fees. He also said supporters should not be discouraged if burning offsets less than 10% of new issuance indefinitely, because he believes the asset's value comes from broader strengths.
Buterin questioned the assumption that transaction fees provide a dependable valuation floor. Much of Ethereum's earlier fee activity came from within the crypto economy, he argued. If demand and token prices fall together, the revenue supporting that supposed floor can weaken at the same time.
He also warned that maximizing fee revenue could push Ethereum toward the behavior of a large corporation, with substantial spending and more interventionist governance. In his view, those pressures would conflict with decentralization and resistance to control by powerful interests.
His alternative emphasizes censorship resistance, open-source development, privacy and security. He argues that those properties can make Ethereum useful for holding assets through technological disruption.
The debate concerns what holders are paying for and which priorities developers should protect. It does not establish that Ether's market price will be stable or that the store-of-value thesis has already succeeded.
In a Sunday thread, he said Ethereum should retain introduced in 2021 that destroys part of transaction fees. He also said supporters should not be discouraged if burning offsets less than 10% of new issuance indefinitely, because he believes the asset's value comes from broader strengths.
Buterin questioned the assumption that transaction fees provide a dependable valuation floor. Much of Ethereum's earlier fee activity came from within the crypto economy, he argued. If demand and token prices fall together, the revenue supporting that supposed floor can weaken at the same time.
He also warned that maximizing fee revenue could push Ethereum toward the behavior of a large corporation, with substantial spending and more interventionist governance. In his view, those pressures would conflict with decentralization and resistance to control by powerful interests.
His alternative emphasizes censorship resistance, open-source development, privacy and security. He argues that those properties can make Ethereum useful for holding assets through technological disruption.
The debate concerns what holders are paying for and which priorities developers should protect. It does not establish that Ether's market price will be stable or that the store-of-value thesis has already succeeded.
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MARA ($MARA) Holdings Q3 Highlights: 2,247 Bitcoin Mined, AI & Cloud Push Continues.
benzinga.com/markets/earnin…
benzinga.com/markets/earnin…
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Bill Ackman (@BillAckman) defended Nvidia ($NVDA) CEO Jensen Huang amid an investigation into his reported affair with an alleged Chinese spy.
Ackman said Huang "has done a lot of good for the world" but warned that any national security implications would be a serious problem.
Ackman said Huang "has done a lot of good for the world" but warned that any national security implications would be a serious problem.
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GE Vernova ($GEV) secured an order for three onshore wind turbines in Germany, paired with a 20-year maintenance and service agreement. The deal adds a long-term operating relationship to the initial equipment sale.
The company will supply Stadtwerke Heidenheim with three or the Schlotberg-JĂĽchsen wind farm. Each model has a 158-meter rotor, and the order represents 16.5 megawatts of generating capacity. Financial terms were not disclosed.
Manufacturing will take place at GE Vernova's Salzbergen facility, one of its 13 German locations. Deliveries are scheduled to begin in August 2027, with commissioning planned for December 2027. The company booked the order in the fourth quarter of 2026.
This is the partners' sixth wind project together. Once completed, Stadtwerke Heidenheim's installed capacity using GE Vernova turbines in Germany will reach 74 megawatts. The customer said earlier delays and strict regulatory deadlines made reliable delivery and execution particularly important to protecting the project's viability.
GE Vernova says its onshore strategy emphasizes standardized machines that can be manufactured and deployed repeatedly, supported by a large operating fleet. The announcement gives that strategy a concrete test, with equipment delivery, commissioning and two decades of service attached to one project.
For the customer, keeping the construction schedule intact is central to turning an equipment commitment into electricity production.
The company will supply Stadtwerke Heidenheim with three or the Schlotberg-JĂĽchsen wind farm. Each model has a 158-meter rotor, and the order represents 16.5 megawatts of generating capacity. Financial terms were not disclosed.
Manufacturing will take place at GE Vernova's Salzbergen facility, one of its 13 German locations. Deliveries are scheduled to begin in August 2027, with commissioning planned for December 2027. The company booked the order in the fourth quarter of 2026.
This is the partners' sixth wind project together. Once completed, Stadtwerke Heidenheim's installed capacity using GE Vernova turbines in Germany will reach 74 megawatts. The customer said earlier delays and strict regulatory deadlines made reliable delivery and execution particularly important to protecting the project's viability.
GE Vernova says its onshore strategy emphasizes standardized machines that can be manufactured and deployed repeatedly, supported by a large operating fleet. The announcement gives that strategy a concrete test, with equipment delivery, commissioning and two decades of service attached to one project.
For the customer, keeping the construction schedule intact is central to turning an equipment commitment into electricity production.
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Benzinga retweeted
President Donald Trump defended his family’s continued involvement in crypto ventures while he is in office, arguing that he cannot simply tell his sons to stop doing business for four years.
During a “60 Minutes” interview, Trump was questioned about World Liberty Financial and y a senior UAE royal.
“My sons run the company,” Trump said, adding that it would be difficult to tell them not to pursue business opportunities while he serves as president.
Trump said most of his personal wealth is managed by Wall Street firms through investments such as index funds and that he does not personally direct individual investment decisions.
He also rejected calls to fully divest his assets, arguing that presidents have historically entered office with private financial interests and that the issue is not unique to him.
World Liberty Financial lists Trump and Steve Witkoff as co-founders emeritus and is operated by members of the Trump and Witkoff families, including Eric Trump.
Trump’s 2025 financial disclosure showed more than $1.4 billion in income tied to cryptocurrency ventures, including more than $520 million from World Liberty Financial token sales, along with income connected to USD1, the Official Trump ($TRUMP) memecoin and licensing deals.
Scrutiny could increase in 2027 as Democrats take greater control of congressional oversight. Sen. Elizabeth Warren is expected to push for deeper examination of the crypto industry and financial relationships involving people in Trump’s orbit.
During a “60 Minutes” interview, Trump was questioned about World Liberty Financial and y a senior UAE royal.
“My sons run the company,” Trump said, adding that it would be difficult to tell them not to pursue business opportunities while he serves as president.
Trump said most of his personal wealth is managed by Wall Street firms through investments such as index funds and that he does not personally direct individual investment decisions.
He also rejected calls to fully divest his assets, arguing that presidents have historically entered office with private financial interests and that the issue is not unique to him.
World Liberty Financial lists Trump and Steve Witkoff as co-founders emeritus and is operated by members of the Trump and Witkoff families, including Eric Trump.
Trump’s 2025 financial disclosure showed more than $1.4 billion in income tied to cryptocurrency ventures, including more than $520 million from World Liberty Financial token sales, along with income connected to USD1, the Official Trump ($TRUMP) memecoin and licensing deals.
Scrutiny could increase in 2027 as Democrats take greater control of congressional oversight. Sen. Elizabeth Warren is expected to push for deeper examination of the crypto industry and financial relationships involving people in Trump’s orbit.
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Benzinga retweeted
Valneva ($VALN) reported positive Phase 2 results for its experimental Shigella vaccine, which targets a bacterial infection responsible for up to 165M cases annually.
The vaccine met its primary endpoint in an adult trial and showed promising immune responses in infants.
The vaccine met its primary endpoint in an adult trial and showed promising immune responses in infants.
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Benzinga retweeted
China extended its suspension of an additional 24% tariff on U.S. goods for two months, giving exporters more breathing room while keeping a 10% tariff in place. The extension takes effect November 10 at 1:01 p.m. Beijing time.
The decision preserves part of the trade truce as (@realDonaldTrump) and Chinese President Xi Jinping prepare for another meeting later this month. China linked the extension to agreements reached during the leaders' September summit in Washington.
Shipping companies also received a reprieve. Beijing extended its pause on special port fees for U.S.-linked vessels through January 10, 2027, and kept an investigation into shipping and shipbuilding supply-chain security suspended during that period. Those measures affect a separate set of costs from tariffs on imported merchandise.
A broader package remains unfinished. The two countries have discussed about $60 billion in reciprocal tariff reductions, including roughly $17 billion in U.S. agricultural products that China imported in 2024. The suspension does not mean that package has been finalized.
Beijing also said it would watch Washington's next moves on Section 301 tariffs and adjust its response as necessary. For businesses planning shipments and purchases, the announcement offers a defined period of greater predictability.
The longer-term cost of U.S.-China trade still depends on whether the temporary pause leads to a broader agreement.
The decision preserves part of the trade truce as (@realDonaldTrump) and Chinese President Xi Jinping prepare for another meeting later this month. China linked the extension to agreements reached during the leaders' September summit in Washington.
Shipping companies also received a reprieve. Beijing extended its pause on special port fees for U.S.-linked vessels through January 10, 2027, and kept an investigation into shipping and shipbuilding supply-chain security suspended during that period. Those measures affect a separate set of costs from tariffs on imported merchandise.
A broader package remains unfinished. The two countries have discussed about $60 billion in reciprocal tariff reductions, including roughly $17 billion in U.S. agricultural products that China imported in 2024. The suspension does not mean that package has been finalized.
Beijing also said it would watch Washington's next moves on Section 301 tariffs and adjust its response as necessary. For businesses planning shipments and purchases, the announcement offers a defined period of greater predictability.
The longer-term cost of U.S.-China trade still depends on whether the temporary pause leads to a broader agreement.
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Benzinga retweeted
Dan Ives (@DivesTech) says Jensen Huang is "not replaceable" at Nvidia ($NVDA) as the company's board investigates the CEO's reported affair.
Ives sees little chance of Huang leaving and maintains his Outperform rating and $300 price target.
benzinga.com/analyst-stock-…
Ives sees little chance of Huang leaving and maintains his Outperform rating and $300 price target.
benzinga.com/analyst-stock-…
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Benzinga retweeted
Constellation Energy ($CEG) raised its full-year earnings outlook after reporting stronger-than-expected third-quarter results and detailing agreements that it says will add more than 1,000 megawatts of emissions-free generation to the grid.
Adjusted earnings reached $5.06 per $3.85 estimate. Revenue totaled $9.55 billion, also exceeding expectations. The company narrowed its 2026 adjusted earnings forecast to $12.50 to $12.80 per share, compared with its previous range of $11.50 to $12.50.
Long-term technology customers are helping fund the expansion. A 20-year agreement with Amazon ($AMZN) supports more than $3 billion of investment at Calvert Cliffs, including 190 megawatts of additional capacity expected between 2030 and 2032. The agreement covers 690 megawatts of power.
A separate 20-year deal with Alphabet's Google ($GOOGL) supports more than $4.3 billion in upgrades across 11 nuclear units. Those projects are expected to add about 890 megawatts, beginning in 2028. Constellation also secured a conditional federal loan-guarantee commitment of up to $5 billion for nuclear upgrades.
The existing fleet remained highly productive, with a 97.2% nuclear capacity factor excluding Salem and South Texas Project. Management says the new generation can be added without passing its costs to existing customers.
The larger test is delivering those upgrades as rising electricity demand turns reliable power into a central constraint on the digital economy.
Adjusted earnings reached $5.06 per $3.85 estimate. Revenue totaled $9.55 billion, also exceeding expectations. The company narrowed its 2026 adjusted earnings forecast to $12.50 to $12.80 per share, compared with its previous range of $11.50 to $12.50.
Long-term technology customers are helping fund the expansion. A 20-year agreement with Amazon ($AMZN) supports more than $3 billion of investment at Calvert Cliffs, including 190 megawatts of additional capacity expected between 2030 and 2032. The agreement covers 690 megawatts of power.
A separate 20-year deal with Alphabet's Google ($GOOGL) supports more than $4.3 billion in upgrades across 11 nuclear units. Those projects are expected to add about 890 megawatts, beginning in 2028. Constellation also secured a conditional federal loan-guarantee commitment of up to $5 billion for nuclear upgrades.
The existing fleet remained highly productive, with a 97.2% nuclear capacity factor excluding Salem and South Texas Project. Management says the new generation can be added without passing its costs to existing customers.
The larger test is delivering those upgrades as rising electricity demand turns reliable power into a central constraint on the digital economy.
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Benzinga retweeted
President Donald Trump said Israel and other U.S. allies protected during the Iran war will repay Washington for military costs, claiming the U.S. will recover “any and all” spending tied to the conflict.
Speaking on “60 Minutes,” Trump said he has already informed allied rsement is expected, though he did not provide a specific figure or identify any formal repayment agreements.
Trump singled out Israel, arguing that U.S. military support and strikes against Iranian nuclear facilities were critical to protecting the country.
The financial stakes are significant. A Pentagon estimate put U.S. spending on the Iran war at roughly $47.1 billion through Oct. 16, including military operations, ammunition replacement and equipment losses.
That estimate does not include damage to U.S. military bases across the Middle East, meaning the total economic cost could be higher.
The conflict has also disrupted global energy markets. Gulf exports of crude oil, condensate and refined products averaged about 17.1 million barrels per day in October, roughly three-quarters of normal prewar levels.
Trump acknowledged that the conflict and higher gasoline prices hurt Republicans during the Nov. 3 midterm elections, while Vice President JD Vance has similarly pointed to the war’s economic costs as a political problem.
Washington continues exploring negotiations with Tehran, and Trump has indicated additional strikes are unlikely if diplomacy progresses. His claim that allies will repay U.S. war costs remains an assertion rather than a documented agreement.
Speaking on “60 Minutes,” Trump said he has already informed allied rsement is expected, though he did not provide a specific figure or identify any formal repayment agreements.
Trump singled out Israel, arguing that U.S. military support and strikes against Iranian nuclear facilities were critical to protecting the country.
The financial stakes are significant. A Pentagon estimate put U.S. spending on the Iran war at roughly $47.1 billion through Oct. 16, including military operations, ammunition replacement and equipment losses.
That estimate does not include damage to U.S. military bases across the Middle East, meaning the total economic cost could be higher.
The conflict has also disrupted global energy markets. Gulf exports of crude oil, condensate and refined products averaged about 17.1 million barrels per day in October, roughly three-quarters of normal prewar levels.
Trump acknowledged that the conflict and higher gasoline prices hurt Republicans during the Nov. 3 midterm elections, while Vice President JD Vance has similarly pointed to the war’s economic costs as a political problem.
Washington continues exploring negotiations with Tehran, and Trump has indicated additional strikes are unlikely if diplomacy progresses. His claim that allies will repay U.S. war costs remains an assertion rather than a documented agreement.
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