What we’re reading (1/11)
“Wall Street ‘Fear Gauge’ At 3-Week High As Stocks Sink” (Reuters). “Wall Street's most watched gauge of investor anxiety rose to a three-week high on Friday as stock indexes sold off following a an upbeat jobs report that pushed back market expectations for further Federal Reserve interest rate cuts.”
“Warren Buffett Prepares His Middle Child for the Job of a Lifetime” (Wall Street Journal). “As a child, Howie Buffett listened to Warren Buffett’s side of telephone conversations, asking questions about things he didn’t understand. As an adult, he turned to his father for advice. And as a director on Berkshire’s board for more than 30 years, he’s had a front-row seat as his father built Berkshire into one of the largest companies in the U.S.”
“The Tax That’s Stopping Older Homeowners From Selling Their Valuable Properties” (Business Insider). “The share of home sales subject to the [capital gains] tax has more than doubled in the past few years. In 2023, 8% of US sellers made more than $500,000 in profit on the sale of their homes, the property data firm CoreLogic found. That's up from 1.3% in 2003 and 3% in 2019. If the threshold had been adjusted for inflation, the $250,000 cutoff for individual home sellers in 1997 dollars would be about twice as high — $496,000 — in 2024 dollars.”
“Why America Is Stuck With An Elevator Crisis” (Axios). “Elevator parts shortages appear to stem largely from two issues: Parts suppliers often prioritize their biggest customers, which in this case happens to be builders in China, where the vast majority of the world's new elevators are installed, according to Smith. And parts are often no longer available for aging — and often obsolete — elevators, meaning they often have to be custom made.”
“Higher Egg Prices May Extend Far Into 2025, And Egg Producers Like Cal-Maine Could Benefit” (Yahoo! Finance). “Eggs are starting the year on a rotten note as prices surge after the return of the bird flu. According to the latest USDA report from mid-December, US egg production is down 4% year over year, with 3% fewer egg-laying hens. Per Datasembly, eggs are at their highest price since January 2023.”
