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A recent survey reveals that 51% of Americans have spent more money than they can afford to impress others, with a high trend among young people and men. The result of this behavior is dire, with many spiraling down financial whirlpools with no visible way out.
&#8220;Most people don&#8217;t have anything written down as a budget,&#8221; <a href="https://www.benzinga.com/personal-finance/24/08/40374894/financial-guru-dave-ramsey-advises-take-social-security-at-62-but-this-essential-step-is-non-neg">Ramsey </a>said in an interview with TheStreet. &#8220;They don&#8217;t have any idea where their money&#8217;s going. When you start being intentional about that, it&#8217;s a self-awareness activity. Look at what we&#8217;re spending here on eating out.&#8221; 
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He didn&#8217;t mince words when assessing the growing reliance on online shopping and frictionless spending. &#8220;Personal finance is about 80% behavior. It&#8217;s only about 20% math or head knowledge,&#8221; he said. &#8220;But what happens is that we start spending money we don&#8217;t have. We feel trapped like we must keep up – or keep repeatedly hitting the Amazon Prime button and buying extra stuff.&#8221;
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The basis of Ramsey&#8217;s advice can be summed up with one word: awareness. He reflected on his own experience and shared, &#8220;One of the things that happened to me in my 20s is I was broke and lost everything. Through that experience, I looked in the mirror and found the problem: me. I was the idiot. I was the problem.&#8221;
But Ramsey&#8217;s message wasn&#8217;t all negative. He emphasized that people can control their financial futures. &#8220;The good news is that I also found the solution. I can change it tomorrow. I can decide. I&#8217;m not spending money I don&#8217;t have anymore,&#8221; he said.
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The reality of overspending is even more concerning when juxtaposed with findings from McKinsey, indicating that while personal income has risen, consumers are planning to cut back on discretionary purchases due to shrinking disposable income. Yet dining out is a significant splurge category for many.
"One guy sitting in one of our groups said, ‘I think I found out why we don't have any money in retirement when we did our budget. I think we're eating it,'" Ramsey recounted. "And that's exactly right. They're going out to eat every night."
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Ramsey made it clear that he's not opposed to dining out. "I love restaurants," he said. "But you can't go out to eat every night if you're broke. So again, all of these things are about self-awareness."
The clear warning signs have not deterred many Americans from living beyond their means. Statistics reveal that half U.S. adults carry <a href="https://www.benzinga.com/personal-finance/24/08/40420920/we-have-the-highest-credit-card-debt-in-the-history-of-earth-says-grant-cardone-america-needs-to">credit card debt</a> from month to month – a burden that often feels insurmountable.
Ramsey isn&#8217;t shy about dishing out a good dose of tough love, insisting that most of the time, it&#8217;s just the approach needed to jolt people into action. &#8220;People call it tough love, but it&#8217;s just that I love you enough to tell you the truth and nobody else will,&#8221; he said. &#8220;And sometimes, that sounds harsh to people, but it&#8217;s not harsh. I care deeply that you get that.&#8221;
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In the last episode of Benzinga&#8217;s Cannabis Insider <a href="https://www.benzinga.com/topic/cannabis-insider">podcast</a>, Guillermo Rodriguez, a CPA and seasoned virtual CFO specializing in the <a href="http://benzinga.com/cannabis">cannabis industry</a>, shared invaluable insights into financial strategies essential for thriving in this complex market. Rodriguez discussed the critical role of a virtual CFO and how cannabis companies can navigate the often-tumultuous financial landscapes they face.
Rodriguez, who transitioned to cannabis consulting during the pandemic, draws on a rich background in corporate finance, aiming to enhance the health sector through plant medicine. He detailed his journey from auditing and financial accounting to becoming a forward-looking virtual CFO, focusing on profitability and risk management.
<h3 class="wp-block-heading">The Virtual CFO's Key Role Explained</h3>
The core of a virtual CFO's role, according to Rodriguez, lies in preparing companies for future financial challenges, not just maintaining the books. This preparation is crucial for cannabis companies that often start with substantial capital yet lack clear profitability paths. &#8220;Most operators are experts in their business operationally but need financial guidance,&#8221; Rodriguez explained, underscoring the importance of crafting detailed financial plans that consider future profits and cash flow needs.
Discussing the stages at which companies typically engage a virtual CFO, Rodriguez noted that while larger firms might manage in-house, cannabis businesses making between $2 million and $20 million often realize the benefits of virtual financial oversight. These businesses, particularly in nascent markets like <a href="http://benzinga.com/topic/new-jersey-cannabis">New Jersey</a>, recognize the need early due to their rapid scaling and significant upfront investments.
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<h3 class="wp-block-heading">Financial Benefits Of Federal Cannabis Reform</h3>
The conversation also touched on the broader economic pressures facing the industry, including IRS tax code 280E and potential <a href="https://www.benzinga.com/topic/cannabis-rescheduling">federal rescheduling</a>. "The planned reschedule is going to help tremendously and be able to achieve 5 to 7% after tax profit for most companies that are doing well", Rodriguez said optimistically. He contends that despite the financial strain under heavy taxation, cannabis businesses can achieve profitability through strategic financial planning and by achieving essential gross margins.
Rodriguez also highlighted the potential benefits of improved cash flow for cannabis businesses, irrespective of legislative changes like the <a href="https://www.benzinga.com/topic/safe-banking-act">SAFE Banking Act</a>. &#8220;Even if SAFE Banking doesn&#8217;t happen just by the fact that companies will have better cash flow, they will become more bankable and have better credit just from having additional cash flow.&#8221; This underscores the intrinsic value of robust financial management in enhancing a company's banking prospects.
<h3 class="wp-block-heading">Banking Relationships And Education In Cannabis</h3>
In this regard, Rodriguez emphasized the importance of relationship-building within the banking sector, which remains a pivotal aspect of navigating the cannabis industry&#8217;s unique challenges. &#8220;Overall, but especially in banking, it makes a lot of sense to go the extra mile and develop relationships, communicate, share results of your operations with your banker, with lenders,&#8221; he advised.
Rodriguez&#8217;s parting advice underscored a theme prevalent throughout the cannabis industry: <a href="https://www.benzinga.com/topic/cannabis-education">education</a> and proactive financial management are key to not just surviving but thriving in this rapidly evolving market.
For a deeper dive into Guillermo Rodriguez&#8217;s insights on financial strategies in the cannabis industry, watch the full interview on Benzinga Cannabis' YouTube <a href="https://www.youtube.com/live/rWfOsG6f_s0">channel</a>.
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The California Senate Appropriations Committee has rejected an <a href="https://www.benzinga.com/markets/cannabis/24/02/37107956/californias-proposed-cannabis-bill-learn-how-this-controversial-legislation-could-revolutionize-">assembly bill </a>(AB 2223) that would strictly regulate intoxicating hemp-derived cannabinoids.
This decision follows opposition from <a href="https://hempsupporter.com/news/statement-by-jonathan-miller-general-counsel-u-s-hemp-roundtable-on-ab2223/">hemp industry supporters</a> who issued a statement saying the bill &#8220;represented an unholy alliance between regulators and the companies they regulate – the largest marijuana companies who seek to destroy the new hemp industry.&#8221;
The statement from U.S. Hemp Roundtable followed a campaign urging people to contact their legislators, asking them to reject the bill. The group claims that thousands of emails were sent, highlighting the potential damage AB 2223 could cause.
As a result, the Senate decided not to advance the bill, effectively ending its progress for this year.
<h3 class="wp-block-heading">What Was Assembly Bill 2223?</h3>
Introduced by assembly member Cecilia Aguiar-Curry, the bill sought to change California's cannabis laws by integrating hemp and cannabis products. It also aimed to impose stricter rules on <a href="https://www.benzinga.com/general/biotech/23/03/31566985/the-rise-of-synthetic-cannabinoids-a-threat-to-natural-cannabis">synthetic cannabinoids</a>.
The U.S. Hemp Roundtable and others argued that the bill's limits on THC content could effectively ban most hemp products from being sold, including important CBD products that many patients use for medical treatment. That would have been the case for Bonni Goldstein, MD, who <a href="https://www.benzinga.com/markets/cannabis/24/07/39783547/physician-condemns-californias-confusing-hemp-regulations-impacting-pediatric-cbd-for-seizure-tr">warned</a> that the potential regulations would have prevented one of her patients from accessing necessary treatment.
In an email to Benzinga Cannabis, another industry leader celebrated the rejection of AB 2223. "We respect the legislature&#8217;s thoughtful consideration regarding AB 2223. Their decision to pause the bill&#8217;s progression underscores a commitment to careful policymaking that prioritizes consumer safety—a goal shared by all parties involved,&#8221; said Jonathan Black, CEO of <a href="https://www.benzinga.com/markets/cannabis/24/05/38599614/cheech-and-chong-brand-ceo-talks-cannabis-retail-expansion-and-designs-that-resonate-with-the-le">Cheech &amp; Chong's Global Holding Company</a>. 
Ted Whitney, director of sales at Squared also weighed in. &#8220;The decision to discard AB 2223 marks a significant moment for the future of cannabis in California and beyond.&#8221;
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<h3 class="wp-block-heading">How To Regulate Hemp Products? That Is The Question</h3>
Although the bill has been halted for now, the debate over hemp regulation in <a href="https://www.benzinga.com/topic/california-cannabis">California</a> will likely continue.
&#8220;We are eager to continue our work with the governor&#8217;s office and Assembly Majority Leader Cecilia Aguiar-Curry. Together, we aim to craft legislation that not only protects consumers but also supports the continued growth of the hemp market.&#8221; Black added.
Hemp derived products and synthetic cannabinoids are available all over the country. Certain states have moved to <a href="https://www.benzinga.com/markets/cannabis/24/07/39610764/intoxicating-hemp-products-face-regulatory-crackdown-across-multiple-states">ban them</a>. But in California, industry groups are calling for a different approach, the likes of which has been undertaken in New Jersey as an <a href="https://www.benzinga.com/markets/cannabis/24/08/40258838/new-jerseys-delta-8-thc-regulation-raises-concerns-in-cannabis-industry">alternative</a> to point blank prohibition.
Jonathan Miller, general counsel of the Hemp Roundtable proposed a regulating path for the Golden State.
&#8220;It's time to require good manufacturing practices and truth in labeling, and to keep adult products away from children,&#8221; he said.
&#8220;The war on hemp continues on Capitol Hill and in state capitals across the country&#8221; reads a statement from the Hemp Roundtable emailed to Benzinga Cannabis.
Resounding words. 
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California Rejects Proposed Regulations On Hemp, The Industry Celebrates, For Now

These ten large-cap stocks were the worst performers in the last week. Are they in your portfolio?
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<li>Tencent Music Entertainment Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TME#NYSE">TME</a>) shares dipped 18.18% after the company reported a <a href="https://www.benzinga.com//node/40333133" target="_blank" rel="noreferrer noopener">second-quarter revenue miss</a>. Several analysts cut <a href="https://www.benzinga.com//node/40333133" target="_blank" rel="noreferrer noopener">the price target on the stock</a>.</li>
<li>Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) stock fell 5.92% last week. RBC Capital lowered its price target on the stock <a href="https://www.benzinga.com/quote/mbly/analyst-ratings" target="_blank" rel="noreferrer noopener">from $34 to $24</a>.</li>
<li>Rivian Automotive Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) stock declined 5.37% after it reportedly halted production of the electric commercial van it makes for Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) due to a parts deficit in the latest supply chain chaos.</li>
<li>Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) stock decreased 4.87% after the company announced that Chairman and CEO Brian Niccol <a href="https://www.benzinga.com//node/40376234" target="_blank" rel="noreferrer noopener">would be leaving.</a> Several analysts revised ratings and <a href="https://www.benzinga.com//node/40367589" target="_blank" rel="noreferrer noopener">price targets on the stock</a>.</li>
<li>Lineage Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LINE#NASDAQ">LINE</a>) stock lost 4.08% in the last week.</li>
<li>Sirius XM Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIRI#NASDAQ">SIRI</a>) stock fell 3.85% last week after gaining earlier in the week on reports of Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) increasing its stake in the company.</li>
<li>Hershey Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) stock lost 3.23% after Goldman Sachs issued a <a href="https://www.benzinga.com//node/40321537" target="_blank" rel="noreferrer noopener">Sell rating and</a> a price target of $185 on the stock.</li>
<li>Baxter International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAX#NYSE">BAX</a>) shares were down 2.80% after the company announced a <a href="https://www.benzinga.com//node/40342215">definitive agreement to divest</a> its Vantive Kidney Care segment to Carlyle Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CG#NASDAQ">CG</a>) for $3.8 billion.</li>
<li>Broadridge Financial Solutions Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BR#NYSE">BR</a>) declined 2.76%.</li>
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Social Security taxes remain one of the hottest political issues at the federal and state levels of government in the United States. Former President<a href="https://www.benzinga.com/real-estate/24/08/40341328/ivana-trumps-former-nyc-townhome-slashed-to-19-5-million-after-two-years-on-the-market"> Donald Trump</a> and current Governor of Minnesota – now allied with Vice President Kamala Harris–Tim Walz have forwarded plans to reduce the Social Security tax burden on beneficiaries.
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In a recent appearance on Fox &amp; Friends, Trump made a bold promise: &#8220;We can do so much for the people,&#8221; he said. "People on Social Security are being killed, and one of the things I&#8217;m doing is no tax for seniors on Social Security, and I&#8217;ll get it done quick.&#8221; Some experts have called the potential elimination of Federal Income Taxes on Social Security revolutionary.
Richard Auxier, the critical policy associate at the Urban-Brookings Tax Policy Center, set Trump&#8217;s proposal in context. &#8220;What Trump is proposing would be transformative,&#8221; said Auxier, &#8220;Both in terms of cost and how it would impact the funding of Social Security.&#8221; Indeed, this policy could add around $1.6 trillion to the federal deficit within 10 years, according to estimates by the Tax Foundation.
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This significant increase in the deficit could have a long-lasting effect on other government-funded programs and services, potentially leading to underfunding. For instance, there is the likelihood of increased insolvency of Medicare trust funds and Social Security, shifting their insolvency dates from 2035 to 2033 for Social Security, while that of Medicare could move from 2036 to 2030.
Trump&#8217;s plan has opened up a can of worms that exists with federal taxation. A person&#8217;s Social Security payments are taxed based on their &#8220;combined income,&#8221; defined as their nontaxable interest, adjusted gross income, and half of the Social Security benefit payments. Depending on this combined income amount, up to 85% of these benefits could be required to be paid in federal taxes, affecting about 40% of U.S. citizens who rely on <a href="https://www.benzinga.com/personal-finance/24/08/40288004/the-ramsey-show-hosts-tell-65-year-old-retiree-to-start-pulling-social-security-instead-of-livin">Social Security</a> for income.
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Meanwhile, Gov. Tim Walz treats state levies on Social Security taxes differently. In 2023, Minnesota expanded the state tax exclusion on Social Security benefits, which was immensely helpful to seniors. Under the law, taxpayers with adjusted gross income below $78,000 – or $100,000 if married filing jointly – could deduct Social Security benefits from taxable income.
&#8220;The policy, exempting most seniors from income taxes on Social Security, puts Minnesota more in line with other tax codes,&#8221; said Jared Walczak, vice president of state projects at the Tax Foundation. How does that change put Minnesota in line with most states? Only nine states, according to an AARP study, as of June 2024, continue to tax Social Security benefits to varying degrees.
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Auxier responded to the distinction between state and federal initiatives: &#8220;Minnesota&#8217;s was very targeted, and the revenue cost was much lower than Trump&#8217;s proposed federal tax exemptions. States can play this with different revenue, cost, and budget ramifications.&#8221;
These divergent approaches highlight the intricacies of balancing tax cuts for seniors with the provision of crucial services like Social Security or Medicare. Whether Trump&#8217;s grand plan for the country will work or be overridden by states like Minnesota, which have begun more focused policies, remains to be seen.
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Trump Eyes Social Security Tax Cut After Tim Walz's Move – But His Proposal Has A Catch. Will It Work? Experts Weigh In

Kamala Harris has surged ahead of Donald Trump in key battleground states, <a href="https://www.benzinga.com/news/24/08/40301206/scaramucci-accuses-donald-trump-of-racist-comments-against-kamala-harris">as per recent poll results</a>.
What Happened: The poll revealed that Harris now holds the lead over Trump among likely voters in Arizona and North Carolina. Additionally, she has significantly reduced Trump&#8217;s lead in Georgia and Nevada.
The <a href="https://www.nytimes.com/interactive/2024/08/17/us/elections/times-siena-poll-registered-voter-crosstabs.html">poll</a>, conducted by The New York Times and Siena College from August 8 to 15, suggest a shift in the political landscape since May, when Trump was leading over President Joe Biden in these states.
Harris&#8217; rise in the polls is credited to her success in consolidating parts of the Democratic base, particularly among younger, nonwhite, and female voters. She has also made significant gains among independent voters.
The polls also indicate that Harris and Trump are tied at 48% across an average of the four Sun Belt states. This marks a significant improvement for Democrats compared to May, when Trump led Biden by 9 percentage points across Arizona, Georgia and Nevada.
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The new results come after a tumultuous period in American politics, with Democrats swapping Harris for Biden after his poor debate performance, and Trump surviving an assassination attempt.
Both parties view the current period as a potential inflection point and are investing heavily in advertising in the swing states. The Democrats are set to gather this week for their party convention in Chicago.
The polls also reveal that Democratic voters are newly excited about the 2024 race now that Harris is the nominee. Large majorities of Democratic and Republican registered voters are now satisfied with their choice of candidates, a marked change from May.
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However, the polls also indicate potential vulnerabilities for Harris, with more registered voters viewing her as too liberal compared to those who say Trump is too conservative.
Why It Matters: The recent surge in support for Harris in key battleground states could significantly impact the 2024 presidential race. 
The shift in voter sentiment, particularly among younger, nonwhite, and female voters, indicates a potential change in the political landscape. 
However, with more registered voters viewing Harris as too liberal, it remains to be seen how this will affect her chances in the upcoming election.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Trump Vs Harris: New Polls Indicate A Shift In The Political Landscape And This Candidate Is Taking The Lead

Mark Cuban, the billionaire entrepreneur, had many insights during his recent appearance on The Daily Show. Although he discussed many topics, what stood out were his views on power, the military, and artificial intelligence (AI).
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Cuban pointed out that in today&#8217;s world, everyone is increasingly focused on gaining and maintaining power, &#8220;and nothing will give you more power than military and AI,&#8221; he exclaimed.
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Cuban worries about how technology, particularly AI, is being developed and used. He sees AI as something with a lot of potential but also as something hard to predict: &#8220;I&#8217;ve been in technology for a long time, and you can always look at a new tech, PCs, networks, the internet, streaming, whatever, and say, OK, in five years, this is what&#8217;s going to happen, right, and have a good sense.&#8221;&nbsp;
&#8220;With AI, you can&#8217;t do that,&#8221; he said, describing the difficulty in knowing exactly where AI will lead us.
Trending: Don&#8217;t miss the real AI boom &#8211;<a href="https://www.benzinga.com/money/fundrise-innovation-fund"> here&#8217;s how to use just $10 to invest in high growth private tech companies.</a>
Even though there&#8217;s a lot we don&#8217;t know about AI, Cuban is sure that the U.S. is at the forefront of developing it. He believes this is important, not just for business but also for national security. &#8220;We are, without question, the leader,&#8221; he said, stressing how crucial it is for the U.S. to keep that lead.
Countries are now competing to be the best at AI to boost their economies and protect their national security. This competition is about having the best tech and who controls the algorithms.&nbsp;
Cuban also explained to Stewart how powerful algorithms can be, saying that <a href="https://www.benzinga.com/personal-finance/24/06/39459056/mark-cuban-says-the-person-who-controls-the-algorithm-controls-the-world-heres-the-biggest-probl">whoever controls them can easily shape</a> people&#8217;s opinions and decisions. &#8220;If you want to influence somebody, just manipulate the algorithm, and you&#8217;ll get their attention,&#8221; he stated.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Here is my unpopular on <a href="https://twitter.com/X?ref_src=twsrc%5Etfw">@X</a> opinion on this political cycle: &quot;This seems to be to be a race where everyone&#39;s frame of reference is influenced more by the narratives delivered by the algorithms we consume than the actual events themselves. Those algorithms evolve as new…
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1812892548018692253?ref_src=twsrc%5Etfw">July 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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Cuban&#8217;s comments about the algorithms align with his tweet last month, in which he said they&#8217;re <a href="https://www.benzinga.com/news/24/07/39785373/mark-cuban-sounds-alarm-on-ai-steering-2024-election-season-including-trump-biden-presidential-race">potentially steering the outcome of the 2024 election</a>. He explained that artificial intelligence plays a bigger role in the current election season than ever before.&nbsp;
Instead of policies or candidates&#8217; personalities being the main focus, it&#8217;s the algorithms that really drive what people see and how they form their opinions. In his words, &#8220;The most influential position in politics is that of whoever controls the algorithms for each significant online platform.&#8221;&nbsp;
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Throughout the talk, Cuban stressed that while AI and military power are incredibly strong, we must use them responsibly and have good leadership. He warned that because <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/01/36514761/ai-is-going-to-be-the-next-goldrush-analyst-breaks-down-huge-artificial-intelligence-opp">AI is developing so quickly</a>, we can&#8217;t predict everything that might happen, but that doesn&#8217;t stop the race for power from being very intense.
Some tech leaders are far more optimistic than Cuban about artificial intelligence. <a href="https://www.benzinga.com/news/24/02/37198475/mark-zuckerberg-on-the-biggest-question-everyones-thinking-about-will-ai-take-away-jobs">Mark Zuckerberg</a> and <a href="https://www.benzinga.com/news/24/05/38608040/openais-sam-altman-says-were-making-agi-and-it-will-be-worth-it-dont-care-if-we-burn-500m-or-50b">Sam Altman</a> are just some Silicon Valley capitalists who see AI as a powerful tool for improving society.&nbsp;&nbsp;
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Startups

Mark Cuban Says 'Everybody's Chasing Power, And Nothing Will Give You More Power Than Military And AI'

These ten large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) stock escalated 24.08% after the company announced that Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) CEO and Chairman Brian Niccol was named Starbucks&#8217; new Chairman and <a href="https://www.benzinga.com//node/40338228" target="_blank" rel="noreferrer noopener">Chief Executive Officer, effective September 9</a>.</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) stock jumped 23.06% following Soros Fund Management&#8217;s disclosure in its SEC Form 13F filing, revealing that the fund has&nbsp;<a href="https://www.benzinga.com//node/40403528" target="_blank" rel="noreferrer noopener">purchased 24,898 shares of Super Micro Computer</a>.</li>
<li>Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) shares increased 20.72% following price target <a href="https://www.benzinga.com//node/40400328" target="_blank" rel="noreferrer noopener">increases from the analysts</a>.</li>
<li>Sea Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SE#NYSE">SE</a>) stock upped 18.42% after the company reported second-quarter results, and several analysts raised the <a href="https://www.benzinga.com//node/40377351" target="_blank" rel="noreferrer noopener">price target on the stock</a>.</li>
<li>Carvana Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) stock rose 17.55% amid a gain in auto-related stocks following a rise in July auto sales.</li>
<li>Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) shares jumped 17.43% &nbsp;after&nbsp;Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) <a href="https://www.benzinga.com//node/40402528" target="_blank" rel="noreferrer noopener">added a stake</a>.</li>
<li>NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) stock gained 17.19% last week. Semiconductor stocks gained amid overall market strength following softer-than-expected PPI figures that could lead to an interest rate cut.</li>
<li>Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) stock gained 16.12% in the last week amid overall market strength in semiconductor stocks following softer-than-expected PPI figures, which could lead to an interest rate cut.</li>
<li>Nomura Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NMR#NYSE">NMR</a>) stock gained 14.48% last week.</li>
<li>Coherent Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>) stock upped 14.02% after the company reported better-than-expected Q4 financial results. Several analysts raised their <a href="https://www.benzinga.com/quote/COHR/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecasts</a> on the stock.</li>
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Image via Nvidia Blog

COHR

CVNA

DELL

DKNG

MRVL

NVDA

SBUX

SMCI

ULTA

NVIDIA, Starbucks And Dell Are Among Top 10 Large Cap Gainers Last Week (Aug 11-Aug 17): Are The Others In Your Portfolio?

Macro Economic Events

Economics

Chicago Fed President Goolsbee, Appearing On CBS's 'Face The Nation', Said Credit Conditions Are Tight And Getting Tighter As Inflation Falls; If Keep Policy Tight For Too Long You Will Have A Problem With Employment

Anthony Scaramucci on Thursday weighed in on the prospects of the presidential candidates <a href="https://www.benzinga.com/news/24/08/40282724/trump-vs-harris-vice-president-nearly-doubles-lead-in-less-than-a-month-strongly-outperforms-bidens">in the wake of recent polls</a>.
Trump Vs. Harris: Scaramucci <a href="https://www.youtube.com/watch?v=RP2re0IhyAo">said</a> that Kamala Harris will be at an advantage if she can pick up young people watching her on TikTok, women who want reproductive freedom, and those who want to see a African-American South Asian woman become president.
He also said on the Rest Is Politics US podcast that about 40 million to 50 million people who own cryptocurrency in the U.S. are up for grabs. &#8220;Democrats are making a mistake in my opinion not supporting it,&#8221; he said.
Scaramucci said of his former boss, &#8220;Donald Trump, like him or dislike him, he&#8217;s got very good instincts. He becomes pro-crypto before the Democrats. So he has got very good political instincts. You can hate the guy, you can say whatever the hell you want about the guy but what&#8217;s interesting now is they&#8217;re moving pro crypto, they are moving &#8216;no tax on tips.'&#8221;
The founder of SkyBridge Capital also delved into price-gouging legislation that Democrats have on the policy agenda. Such a policy move will be a disaster and Trump would never do that, he said.
See Also: <a href="https://www.benzinga.com/markets/24/08/40427103/anthony-scaramucci-says-kamala-harris-poll-numbers-are-driving-market-higher-predicts-rough-81-days">Anthony Scaramucci Says Kamala Harris&#8217; Poll Numbers Are Driving Market Higher, Predicts &#8216;Rough 81 Days&#8217; Ahead For Trump</a>
&#8220;Trump&#8217;s Election To Lose&#8221;: Despite recent poll numbers, Scaramucci doesn&#8217;t think the Democrats have got it in the bag. &#8220;I still think it&#8217;s Trump&#8217;s election to lose,&#8221; he said. He noted that RealClearPolitics numbers show Trump maintaining his lead in key swing states.
Trump may be nursing hopes his Democratic rival would crack, Scaramucci said. &#8220;Trump is thinking&#8230;she&#8217;s going to crack, okay, because she&#8217;s in a glass bubble right now&#8230; she&#8217;s protected by the mainstream media,&#8221; he said. The narrative has gone from Harris was &#8220;vacuous&#8221; to casting her as an &#8220;Obama-like savior,&#8221; he added.
Scaramucci said of Harris, &#8220;I&#8217;m telling you as a strategist: Stay away from the microphone, stay on discipline, you&#8217;re giving good speeches.&#8221; He said that he was impressed with <a href="https://www.benzinga.com/news/24/07/40087673/kamala-harris-says-proud-to-recieve-uaw-endorsement-spent-entire-career-fighting-for-unions-and-work">Harris&#8217; speech to the UAW in Michigan,</a> where she spoke about unity and the spirit of America.
&#8220;That&#8217;s going to win her the election. If she stays on that message she&#8217;s going to win the election,&#8221; he added.
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Media

Scaramucci: 'It's Trump's Election To Lose'; Says What Kamala Harris Ought To Do To Win

Robert Kiyosaki, the author of the best-selling book &#8220;Rich Dad, Poor Dad,&#8221; is urging for a shift towards Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) as a crucial part of a <a href="https://www.benzinga.com/news/22/11/29864685/rich-dad-poor-dad-author-says-economy-is-biggest-bubble-in-world-history-god-have-mercy-on-us-all-1">diversified financial strategy</a>.
What Happened: In a post on X, Kiyosaki emphasized the importance of preparing for economic uncertainty by investing in assets outside the traditional financial system. 
He contrasts visible market crashes in stocks, bonds, or real estate with hidden banking crises, which can occur without public awareness.
Questioning the safety of relying solely on FDIC insurance, Kiyosaki suggests considering alternatives such as gold, silver and Bitcoin.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Rich Dad Lesson on Panics. 1: Panics in capital markets are visible. That means everyone knows when the stock, bond, or real estate markets are crashing. 2: Panics in banks are invisible. That means most people have no idea when their bank is in BANKRUPT. That is why…
&mdash; Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1824978222997700735?ref_src=twsrc%5Etfw">August 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Over time, Kiyosaki&#8217;s perception of cryptocurrency has significantly evolved. Once viewed as a gamble, he now sees it as a store of value, on par with gold and silver. 
Also Read: <a href="https://www.benzinga.com/news/24/08/40147003/rich-dad-poor-dad-author-robert-kiyosaki-sees-wealth-accumulation-in-market-declines-markets-are-cra">&#8216;Rich Dad Poor Dad&#8217; Author Robert Kiyosaki Sees Wealth Accumulation In Market Declines: &#8216;Markets Are Crashing, Great News, This Is Your Turn To Get Richer&#8217;</a>
He believes the current financial system is &#8220;corrupt&#8221; and becoming increasingly vulnerable, hence the need for tangible assets that are less likely to fail.
Kiyosaki also speculates that Bitcoin could be worth up to $1,000,000 in the future. By promoting Bitcoin, gold, and silver, he encourages individuals to shield their wealth from traditional banking risks and prepare for potential economic downturns.
Why It Matters: Kiyosaki&#8217;s endorsement of Bitcoin comes at a time when the cryptocurrency is gaining mainstream acceptance. 
His views reflect a growing sentiment among investors that cryptocurrencies can serve as a hedge against economic uncertainty. 
This shift in perception is crucial as it could potentially drive more people to consider Bitcoin and other cryptocurrencies as viable investment options.
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

'Rich Dad Poor Dad' Author Robert Kiyosaki Urges Shift To Bitcoin Amid Economic Uncertainty: 'Panics In Capital Markets Are Visible, Why Take The Chance'

In a recent <a href="https://www.youtube.com/watch?v=6ilfsmy7mnE">interview</a> with Maria Bartiromo on Fox Business, real estate mogul Grant Cardone discussed the potential impact of a Kamala Harris presidency on property owners, especially in states like Florida and Texas. According to Cardone, these states could see major benefits due to their pro-property owner policies, contrasting with the stricter regulations and higher taxes he associates with Vice President Harris.
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Cardone pointed out that if Harris wins, states with strict rules and regulations could face even more difficulties for property owners. He expects Harris to continue with policies that raise taxes and add more regulations. &#8220;She will continue to do what she&#8217;s done her entire career, which is more regulations, higher taxes, and allow property owners to be penalized for owning property,&#8221; says Cardone. However, there&#8217;s no evidence to support his claims.&nbsp;
See Also: Will the surge continue or decline on real estate prices?<a href="https://www.benzinga.com/money/realbricks"> People are finding out about risk-free real estate investing that lets you cash out whenever you want.</a>
Because of her supposed future policies, states like Florida and Texas, which have <a href="https://www.benzinga.com/real-estate/24/02/37162210/the-income-tax-is-just-killing-me-wealthy-people-are-ditching-these-states-and-moving-to-places-wher">friendlier business environments</a> and better protections for property owners, could see a big increase in investments and new residents.
He believes apartment communities around America are the single best investment for the next 10, 20, and 30 years and that people should avoid blue states because of the heavy regulations and &#8220;taxes being increased overnight.&#8221;
Trending: Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a>
&#8220;Housing cannot be fixed in this country no matter what anyone does. There&#8217;s no such thing as affordable housing. Every major city, San Francisco, New York, Chicago, and all these cities that talk about affordable housing … the housing has become less affordable,&#8221; pointed out Cardone to emphasize the gap between mortgages and rent.
While Grant Cardone argues that states like Florida and Texas could benefit if Harris gets elected, others point out that states with stricter regulations, often dubbed &#8220;blue states,&#8221; have their own advantages. These states typically invest more in public services, infrastructure, and social programs, which can lead to a higher quality of life and more stable long-term growth.
Trending: Institutional investors are increasingly turning to private credit for higher potential returns and lower volatility.<a href="https://www.benzinga.com/money/percent"> You can copy their strategy by investing in your own private credit deals.</a>
It's true that during his presidency, Donald Trump lowered taxes and reduced regulations, which many argue benefited property owners, businesses and wealthy people, but also <a href="https://www.benzinga.com/government/24/06/39462030/trump-added-nearly-two-times-more-to-the-national-debt-than-biden-while-in-office-new-report">added $1.9 trillion to the U.S. national debt</a>. In 2017, Trump signed the Tax Cuts and Jobs Act, which <a href="https://www.benzinga.com/personal-finance/24/06/39235281/wealthy-households-looking-to-benefit-most-from-trumps-proposed-10-12-trillion-tax-cuts">lowered the corporate tax rate from 35% to 21%</a> and reduced income taxes for many Americans.
Cardone&#8217;s argument hinges on the idea that Florida and Texas will remain attractive due to their business-friendly environments. However, with <a href="https://www.benzinga.com/real-estate/24/06/39505796/floridas-real-estate-shake-up-tripling-inventory-and-significant-price-reductions-time-to-buy-or-go">more houses already available and prices leveling off</a> or even dropping in some areas, these markets aren&#8217;t as hot as they once were. While these states may still attract new residents and investors, the quick profits Cardone expects might not be as easily realized due to the cooling housing market.
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</ul>

Real Estate

Florida And Texas Could Reap Huge Benefits If Harris Wins, According To Grant Cardone. 'They Protect The Property Owner'

Entrepreneur Mark Cuban may be recognizable as an investor on "Shark Tank" to many, which might make his opinion on the future of the <a href="https://www.benzinga.com/topic/artificial-intelligence">artificial intelligence sector</a> something investors listen to.
What Happened: Cuban&#8217;s<a href="https://www.benzinga.com/general/politics/24/08/40407566/mark-cuban-blasts-tech-billionaires-they-feel-like-they-should-control-the-world-with-trump-ceo-"> appearance on &#8220;The Daily Show</a>&#8221; with Jon Stewart on Aug. 12 wasn&#8217;t just a conversation about basketball and billionaires—it also delved into the future of artificial intelligence, Donald Trump and Elon Musk. Cuban, who has a long history in technology, <a href="https://www.youtube.com/watch?v=ayhRmnFlSkE">expressed </a>both optimism and caution about the future of AI. &#8220;I&#8217;ve been in technology for a long time and you can always look at a new tech. PCs, networks, the internet, streaming whatever and say, okay, in five years this is what&#8217;s going to happen, right?&#8221; However, he quickly pointed out that AI is different. &#8220;You can&#8217;t do that with large language models. We have no idea whether it&#8217;s going to zig or zag, or what the impact is going to be.&#8221; Cuban said that while the United States currently leads the world in AI advancements, the technology&#8217;s future is uncertain. &#8220;That&#8217;s the good news and the bad news. The good news is we&#8217;re dominating right now globally. The bad news is&#8230; there&#8217;s a lot of uncertainty to come.&#8221;
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</ul>
Why It's Important: Stewart, skeptical of tech innovations, raised concerns about the potential negative impacts of AI, drawing a parallel with the early promises of social media, noting how those initial hopes have led to unforeseen consequences.
Cuban responded by highlighting the relatively short history of social media, noting that it has only been prominent in the last six years and emphasizing that as society continues to engage with it, &#8220;we&#8217;ll learn and we&#8217;ll evolve. And the same thing will happen with AI,&#8221; Cuban said.
He expressed hope that AI, like previous technologies, would ultimately be a force for good, particularly as younger generations take the lead in defining its future. Cuban&#8217;s perspective on AI reflects the broader debate about the role of technology in society. While he remains bullish on innovation, he also acknowledges the need for caution and regulation as AI continues to develop and influence our world.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image created using artificial intelligence via Midjourney.

Tech

Mark Cuban On AI's Uncertainty: 'We Have No Idea Whether It's Going To Zig Or Zag'

Former Rep. George Santos (R-N.Y.) is set to plead guilty to multiple criminal charges this week, marking a significant shift <a href="https://www.benzinga.com/news/24/08/40301206/scaramucci-accuses-donald-trump-of-racist-comments-against-kamala-harris">from his previous defiant stance</a>.
What Happened: Santos has agreed to a plea deal to circumvent a trial that was due to commence next month. The charges levelled against him, including misleading campaign donors and fraudulently obtaining unemployment benefits, could have resulted in significant jail time if he had been found guilty.
U.S. District Judge Joanna Seybert, who is overseeing the case, is yet to approve the plea deal. A hearing in person has been scheduled for Monday afternoon, <a href="https://thehill.com/regulation/court-battles/4832761-george-santos-fraud-case-guilty-plea-expected/">reports</a> The Hill. 
Also Read: <a href="https://www.benzinga.com/24/08/40429823/anthony-scaramucci-says-donald-trumps-divisive-tactics-will-lead-to-the-first-african-american-woman">Anthony Scaramucci Says Donald Trump&#8217;s Divisive Tactics Will Lead To &#8216;The First African-American Woman President&#8217;</a>
Santos was initially charged with 13 counts in May 2023, with an additional 10 counts added in October of the same year. 
The ex-congressman was expelled from Congress following a report from the Ethics Committee that revealed he had deceived donors and misappropriated campaign funds.
Read Also: Lawmakers Made Huge Investments This Year.&nbsp;<a href="https://www.benzinga.com/gov-trades?utm_source=BZprocontent081824" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a>
The plea deal comes on the heels of admissions of guilt by two of Santos&#8217; former aides last year. His ex-campaign treasurer, Nancy Marks, and a former fundraiser, Samuel Miele, both pleaded guilty to their respective charges.
Why It Matters: The case against Santos has been closely watched due to his historic tenure as the first openly gay Republican to be elected to the House.
His expulsion and subsequent charges have raised questions about campaign finance oversight and the ethical conduct of elected officials. 
The guilty pleas of his former aides have further underscored these concerns. The outcome of Santos&#8217; case could potentially influence future campaign finance regulations and the ethical standards expected of public officials.
Read Next
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

George Santos To Plead Guilty In Fraud Case

Morgan Stanley recently became the first major Wall Street bank to permit its financial advisors to offer Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) ETFs to clients, marking a significant step in <a href="https://www.benzinga.com/topic/bitcoin-etf">cryptocurrency&#8217;s mainstream adoption. </a>
As of early August, the bank&#8217;s 15,000 advisors can recommend two specific bitcoin ETFs: BlackRock&#8217;s iShares Bitcoin Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NYSE">IBIT</a>) and Fidelity&#8217;s Wise Origin Bitcoin Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#NYSE">FBTC</a>), paving the way for wider acceptance of crypto in the financial advisor industry.
For now, Morgan Stanley is taking a cautious approach:
<ol>
<li>Only eligible clients with a net worth of at least $1.5 million, high risk tolerance, and interest in speculative investments will be considered suitable.</li>
<li>Investments are intended for taxable brokerage accounts, not retirement accounts.</li>
<li>The bank will monitor clients&#8217; cryptocurrency holdings to prevent excessive exposure.</li>
</ol>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40401407/bettors-dismiss-recession-fears-polymarket-shows-only-7-chance-of-us-downturn-in-2024">Bettors Dismiss Recession Fears: Polymarket Shows Only 7% Chance Of US Downturn In 2024</a>
This move comes more than six months after the SEC approved 11 spot Bitcoin ETFs in January. Despite bitcoin&#8217;s volatility and criticism from prominent figures like Jamie Dimon and Warren Buffett, its integration into mainstream finance continues to progress.
Morgan Stanley&#8217;s decision contrasts with peers like Goldman Sachs, JPMorgan, Bank of America, and Wells Fargo, who are not proactively offering these ETFs as of now. Morgan Stanley&#8217;s shift responds to growing client demand and an evolving digital asset market.
This isn&#8217;t Morgan Stanley&#8217;s first venture into crypto investments. In 2021, it approved the purchase of private funds from Galaxy and FS NYDIG. The bank is also monitoring newly approved ether ETFs but hasn&#8217;t decided on offering access to these products through advisors yet.
Morgan Stanley&#8217;s cautious embrace of Bitcoin ETFs reflects the ongoing tension between traditional finance and the emerging cryptocurrency market. As client interest grows and regulatory clarity improves, other major financial institutions may follow suit, potentially accelerating cryptocurrency&#8217;s integration into mainstream investment portfolios. Financial advisors should take note. 
If you want to learn more about crypto investments, the latest developments, and regulatory updates, <a href="https://futurefinance.beehiiv.com/subscribe">sign up for Future Finance</a>: the newsletter where fintech, crypto, and the future of finance collide.
Also Read: <a href="https://www.benzinga.com/exclusives/24/08/40403222/exclusive-which-magnificent-7-stock-would-investors-put-1-000-in-today-44-of-benzinga-readers-pick-t">EXCLUSIVE: Which Magnificent 7 Stock Would Investors Put $1,000 In Today? 44% Of Benzinga Readers Pick This Company</a>
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Morgan Stanley Becomes First Wall Street Giant To Let Advisors Recommend Bitcoin ETFs

In the wake of promising retail sales and jobless claims data, Goldman Sachs Group Inc. economists have revised the risk of a U.S. recession in the next <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/07/33454156/billionaire-investor-mark-mobius-puts-all-his-money-outside-us-im-all-international">year from 25% to 20%</a>.
What Happened: The team of economists at Goldman Sachs reassessed the recession risk due to positive economic data released last week.
The upcoming jobs report for August, slated for release on September 6, could potentially lead to a further reduction in the recession probability to 15%, a level it maintained for nearly a year before an upward revision on August 2.
According to the report <a href="https://www.bloomberg.com/news/articles/2024-08-17/goldman-cuts-us-recession-risk-following-retail-sales-jobs-data?srnd=homepage-americas&amp;sref=TBDibEcD">by</a> Bloomberg, the U.S. economy showcased its strength with a flood of encouraging data, propelling stocks to their best week this year.
Retail sales in July witnessed the most significant surge since early 2023, and government statistics revealed the lowest number of unemployment benefit applications since early July.
Goldman Sachs economists also displayed increased confidence in the Federal Reserve&#8217;s potential decision to cut interest rates by 25 basis points at their September policy meeting. 
Also Read: <a href="https://www.benzinga.com/general/market-summary/24/08/40429168/s-p-500-records-best-week-of-the-year-amid-favorable-economic-reports-what-really-drove-th">S&amp;P 500 Records Best Week Of The Year Amid Favorable Economic Reports: What Really Drove The Rally?</a>
However, they cautioned that a disappointing jobs report on September 6 could still trigger a 50 basis point move.
Why It Matters: The revised recession risk is a positive sign for the U.S. economy, reflecting the resilience it has shown amidst global economic uncertainties. The surge in retail sales and the decrease in jobless claims indicate a robust consumer sector, a critical component of the US economy.
The potential interest rate cut by the Federal Reserve, as predicted by Goldman Sachs, could provide further stimulus to the economy, encouraging borrowing and investment. 
However, the economists&#8217; caution about the upcoming jobs report underscores the delicate balance of factors influencing the economic outlook.
Read Next
<a href="https://www.benzinga.com/news/24/08/40303485/mark-mobius-predicts-further-economic-struggles-following-stock-market-crash-this-is-a-real-problem" target="_blank" rel="noreferrer noopener">Mark Mobius Predicts Further Economic Struggles Following Stock Market Crash: ‘This Is A Real Problem</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Brighter Outlook: Goldman Sachs Optimistic On U.S. Economy, Cuts Recession Risk Down To 20%

<a href="https://www.benzinga.com/markets/24/08/40303410/warren-buffett-declares-shift-selling-apple-stock-to-invest-in-this-magnificent-megacap-heres-why">Warren Buffett</a> and Berkshire Hathaway are making waves in the investment world, but it has nothing to do with some snazzy tech investment or megamerger. The company quietly amassed a jaw-dropping $234.6 billion in short-term U.S. Treasury bills, overshadowing the Federal Reserve&#8217;s $195 billion holdings.&nbsp;
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<li>A billion-dollar investment strategy with minimums as low as $10 —<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> you can become part of the next big real estate boom today.</a></li>
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One of the most talked-about moves among financial experts has become rife with speculation, and perhaps Buffett knows something everybody else doesn't.
The latest earnings report from the company showed the figure was up from $130 billion in Treasury bills at the end of last year. T-bills, as they are more commonly called, are issued for maturities of four to 52 weeks and are backed by the full faith and credit of the U.S. government. More importantly, interest from T-bills is exempt from state and local taxes, which makes these instruments all the more attractive to big players like Berkshire Hathaway.
Trending: Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a>
Why is Berkshire Hathaway going big on T-bills now? The broader market conditions might hold the answer. Buffett explained why at the company&#8217;s annual meeting in May: &#8220;We believe that holding cash and its equivalents is a safer bet than diving deeper into the stock market at this time.&#8221; Stocks may give better returns but are fraught with higher risks, especially when the market is volatile. In contrast, T-bills are low-return instruments that provide security with ultralow risk.
Berkshire&#8217;s decision to boost its cash and cash equivalents – an umbrella term including Treasury bills – resulted in a record reserve of $277 billion at the end of the last quarter, leaping significantly from the $189 billion reported as of the close of the previous quarter. Some financial analysts scratched their heads over this move, while others see it as a classic Buffett strategy: play it safe when the market is uncertain.
Trending: Institutional investors are increasingly turning to private credit for higher potential returns and lower volatility.<a href="https://www.benzinga.com/money/percent"> You can copy their strategy by investing in your own private credit deals.</a>
This ramping up in T-bill holdings dovetails with Berkshire&#8217;s move to cut its stake in Apple – one of its most profitable investments. At the end of June, Berkshire had cut its Apple holdings in half to $84 billion. Despite this move, Apple still represents Berkshire's most significant stock investment, more than double the size of its next-biggest holding, Bank of America, which is at $41 billion.
Some analysts believe Buffett&#8217;s more cautious approach reflects his concerns about the current economic environment. &#8220;Buffett is signaling that he sees more value in safety than in taking on additional risk,&#8221; one <a href="https://www.benzinga.com/personal-finance/24/08/40399303/is-ai-the-new-finance-expert-nearly-40-of-americans-use-ai-for-financial-planning">financial expert</a> noted. Others believe it might be a deeper strategy to protect Berkshire's assets against prospective market slumps.
As far as investors and market observers are concerned, Warren Buffett&#8217;s investment strategy is one to watch. Only time can prove whether this massive bet on T-bills will pay off in the long run. However, as of now, it is one move that places Berkshire Hathaway in a league all by itself, way ahead of the Federal Reserve.
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<li>This billion-dollar fund has invested in the next big real estate boom,<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> here's how you can join for $10.</a></li>
<li>Elon Musk and Jeff Bezos are bullish on one city that could dethrone New York and become the new financial capital of the US.<a href="https://www.benzinga.com/money/miami-take-new-yorks-place-financial-capital"> Investing in its booming real estate market has never been more accessible.</a></li>
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Berkshire's Latest Move: Outpacing the Fed With Short-Term U.S. Treasury Bills – What Buffett Knows That You Don't

The past week has been a whirlwind of tech news, with artificial intelligence (AI) taking center stage. From former President Donald Trump&#8217;s shock at AI&#8217;s energy demands to the anticipation of Nvidia&#8217;s earnings report, the tech world has been abuzz with developments. Let&#8217;s dive into the top stories of the week.
Trump Stunned by AI&#8217;s Energy Consumption
In a recent interview with Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk, former President Donald Trump expressed his astonishment at the high energy requirements of AI. Trump acknowledged Musk&#8217;s enthusiasm for AI but was taken aback by the technology&#8217;s significant electricity demands. &#8220;This is shocking to me, but AI requires twice the energy that the country already produces,&#8221; Trump stated.
<a href="https://www.benzinga.com/news/24/08/40329545/trump-left-shocked-by-power-hungry-ai-tells-elon-musk-requires-twice-the-energy-that-the-country-alr">Read the full article here.</a>
Nvidia&#8217;s Earnings: A Pivotal Moment
The upcoming earnings report from NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is expected to be a game-changer for the company, according to prominent analyst Dan Ives of Wedbush Securities. Investors worldwide are eagerly awaiting insights from CEO Jensen Huang on the future demand for AI chips through 2025.
<a href="https://www.benzinga.com/markets/equities/24/08/40304983/nvidias-earnings-set-for-drop-the-mic-moment-as-investors-anticipate-massive-ai-demand-forecast-">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/news/24/08/40357647/elon-musk-might-have-triggered-a-bluesky-user-boom-with-his-controversial-uk-riot-remarks-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Might Have Triggered A BlueSky User Boom With His Controversial UK Riot Remarks: Report</a>
Google&#8217;s Work-Life Balance Blamed for Falling Behind OpenAI 
Alphabet Inc.'s former CEO and Chair Eric Schmidt recently discussed Google&#8217;s loss of initiative to ChatGPT-maker OpenAI. Schmidt attributed the setback to Google&#8217;s prioritization of work-life balance and flexible working hours.
<a href="https://www.benzinga.com/news/24/08/40357903/google-co-founder-eric-schmidt-blames-work-from-home-flexible-hours-for-falling-behind-openai-praise">Read the full article here.</a>
Google Confirms Iranian Cyberattacks
Google, a subsidiary of Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), has confirmed that a group linked to Iran's Revolutionary Guard has been attempting to breach the personal email accounts of individuals associated with the US presidential campaigns of President Joe Biden and Trump. Google&#8217;s Threat Analysis Group has been able to detect and disrupt these attacks.
<a href="https://www.benzinga.com/news/24/08/40387430/google-confirms-iranian-hackers-linked-to-revolutionary-guard-targeted-trump-biden-and-harris-campai">Read the full article here.</a>
Tesla&#8217;s Edge in AI and Physical World
According to Elon Musk&#8217;s biographer Ashlee Vance, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has a significant advantage in bridging AI and the physical world, thanks to its factories. Vance quoted an unnamed AI expert who believes that none of the other companies will be able to follow Tesla&#8217;s lead.
<a href="https://www.benzinga.com/news/24/08/40427999/elon-musks-biographer-cites-unnamed-ai-expert-to-note-that-tesla-has-massive-edge-on-bridge-between">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/news/24/08/40356757/made-by-google-event-marred-by-absence-of-demo-spirits-gemini-fails-twice-during-live-session-pixel?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Made By Google&#8217; Event Marred By Absence Of &#8216;Demo Spirits&#8217; — Gemini Fails Twice During Live Session</a>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

AAPL

GOOG

GOOGL

TSLA

AI Power Consumption Shocks Trump, Nvidia's Earnings Anticipation, And Google's Cybersecurity Concerns: This Week In AI

The week was buzzing with cryptocurrency news, from the Winklevoss twins&#8217; critique of Vice President Kamala Harris&#8216; absence at a crypto roundtable to the stagnating burn rate of Shiba Inu&#8217;s tokens. The crypto world also saw some political influences, with Anthony Scaramucci advocating for a bipartisan commitment to crypto regulation and Mark Cuban securing an assurance from Chuck Schumer (D-NY) on sensible crypto law. Let&#8217;s dive into the details.
Winklevoss Twins Criticize Kamala Harris
Co-founders of Gemini, Cameron and Tyler Winklevoss, expressed their disappointment over Harris&#8217; continued absence from cryptocurrency roundtables. Cameron Winklevoss took to social media to voice his concerns, stating, "Harris is a no-show again for the latest crypto roundtable. But don&#8217;t worry, she&#8217;s really into crypto. She gets it. Progress is being made. We just can't point to anything at this time." His brother, Tyler, echoed these sentiments.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40396339/winklevoss-twins-criticize-kamala-harris-after-shes-a-no-show-again-at-crypto-roundtable">Read the full article here.</a>
Shiba Inu&#8217;s Stagnating Burn Rate
Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) saw a 45% drop in its burn rate over two days as of Thursday, causing traders to question the coin&#8217;s near-term upside. In other news, the Shib community launched ShibHub, an app that forms the core of the Shiba ecosystem, allowing users to engage in DeFi, NFTs, social networking, and Web3 gaming.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40394527/dogecoin-killer-shiba-inu-has-not-burned-tokens-in-2-days-what-is-going-on">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40386027/ethereum-creator-vitalik-buterin-shakes-up-crypto-world-with-surprise-eth-deposit-to-excha?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ethereum Creator Vitalik Buterin Shakes Up Crypto World With Surprise ETH Deposit To Exchange</a>
Scaramucci Advocates for Bipartisan Crypto Regulation
Scaramucci, CEO of SkyBridge Capital, stressed the need for positive and bipartisan regulation of digital assets during a virtual town hall interaction organized by the &#8220;Crypto for Harris&#8221; advocacy group. He emphasized that industry leaders wish to avoid political battles and maintain neutrality.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40385886/trump-era-white-house-official-anthony-scaramucci-says-industry-leaders-want-bipartisan-co">Read the full article here.</a>
Chuck Schumer&#8217;s Assurance to Mark Cuban
Senate Majority Leader Schumer assured billionaire entrepreneur Cuban of the importance of &#8220;sensible and long-lasting&#8221; regulation for the crypto industry during a virtual town hall interaction. Schumer acknowledged the growing popularity of cryptocurrencies, stating that approximately 20% of Americans use them and that the number is expected to rise.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40385566/mark-cuban-gets-an-assurance-out-of-chuck-schumer-will-pass-sensible-and-long-lasting-cryp">Read the full article here.</a>
Trump vs. Harris: Impact on Crypto
As the U.S. presidential election approaches, market sentiment suggests that a victory for Donald Trump could be bullish for crypto assets, while a win for Kamala Harris could be bearish. A Bernstein report highlights the emergence of Polymarket, a crypto-based prediction market, as a key indicator of election trends.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40318625/a-donald-trump-win-could-be-seen-as-bullish-harris-victory-as-bearish-for-crypto-bernstein">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40385886/trump-era-white-house-official-anthony-scaramucci-says-industry-leaders-want-bipartisan-co?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump-Era White House Official Anthony Scaramucci Says Industry Leaders Want Bipartisan Commitment On Crypto Regulation</a>
Image via Shutterstock
 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

$SHIB

Winklevoss Twins Criticize Kamala Harris, Shiba Inu's Stagnating Burn Rate, And More: This Week In Crypto

It was a week full of surprises and significant developments for Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>). From revising its iOS 18 Photos app to the return of Fortnite on iPhones, the tech giant was in the headlines for various reasons. Here&#8217;s a quick recap of the top stories involving Apple this past week.
Apple Reverses iOS 18 Photos App Changes
In response to user criticism, Apple has decided to revise its Photos app in the forthcoming iOS 18 and iPadOS 18. The carousel feature, which allowed users to pin specific memories, albums, or content types, has been removed from the latest beta version of iOS 18.
<a href="https://www.benzinga.com/news/24/08/40305265/apple-has-reportedly-reversed-ios-18-photos-app-changes-in-response-to-user-criticism-heres-what-hap">Read the full article here.</a>
Fortnite Returns to the iPhone
After a four-year-long legal battle with Apple, Tencent-backed Epic Games has brought back the popular game Fortnite on the iPhone, along with an entire app store. This marks a win for the game studio, with the EU's Digital Markets Act forcing Apple's hand.
<a href="https://www.benzinga.com/general/gaming/24/08/40415024/tencent-backed-epic-games-brings-fortnite-back-on-the-iphone-this-time-with-an-entire-app-store-af">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/news/24/08/40409247/former-google-ceo-eric-schmidt-highlights-nvidia-as-major-ai-player-in-now-deleted-video-thats-not-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Former Google CEO Eric Schmidt Highlights Nvidia As Major AI Player In Now Deleted Video</a>
Apple, Tencent Discuss Revenue-Sharing Deal for WeChat Mini-Games
Apple and Tencent are reportedly in talks about a potential revenue-sharing agreement for WeChat's mini-games. These games, which are played directly on WeChat, have gained significant popularity, with over half a billion WeChat users playing at least once a month.
<a href="https://www.benzinga.com/news/24/08/40392895/apple-tencent-discussing-potential-revenue-sharing-deal-for-wechat-mini-games-says-chinese-game-make">Read the full article here.</a>
Apple&#8217;s Tabletop iPad Robot in the Works
Apple is reportedly developing a tabletop home device that uses a thin robotic arm to move a large, iPad-like screen. The device is expected to function as a central hub for smart home management, a videoconferencing platform, and a remote-controlled home security tool.
<a href="https://www.benzinga.com/news/24/08/40385441/apples-tabletop-ipad-robot-with-limbs-could-make-its-way-to-your-home-by-2027-heres-what-this-twist">Read the full article here.</a>
Apple Becomes India&#8217;s Fastest-Growing Manufacturer
Apple&#8217;s Indian venture has reportedly crossed the $20 billion revenue threshold in India in just three years of starting manufacturing in the country. The company&#8217;s business in India has experienced a significant upswing, exceeding $23 billion in FY24.
<a href="https://www.benzinga.com/markets/asia/24/08/40358753/apple-is-now-indias-fastest-growing-manufacturer-in-50-years-report">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/news/24/08/40357647/elon-musk-might-have-triggered-a-bluesky-user-boom-with-his-controversial-uk-riot-remarks-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Might Have Triggered A BlueSky User Boom With His Controversial UK Riot Remarks: Report</a>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

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