By Zheping Huang When Justin Sun met Warren Buffett for dinner in January, he wasn’t seeking advice on stocks. The crypto mogul had spent a record $4.6 million at a charity auction for the opportunity to lecture the world’s most famous investor on the benefits of Bitcoin. It was exactly the sort of behavior that Sun’s known for -- abrasive, ostentatious and, ultimately, impossible to ignore. Like the $200 billion crypto industry itself, he is young and hungry for the respect of traditional financiers like Buffett, who deems Bitcoin basically worthless. Still shy of his 30th birthday, Sun founded one of the largest blockchain platforms, Tron, in 2017 and turned it into a virtual Las Vegas with gambling apps. He’s rubbed shoulders with Apple Inc. and Alibaba Group Holding Ltd. founders, hired celebrity endorsers like the late Kobe Bryant and drawn accusations of plagiarism, which he has denied, more than once. What he says and does can move crypto prices, and … [Read more...] about Even a dubious Warren Buffett can’t stop this crypto-world casino czar
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Bridge, golf and mattress testing: Inside Bill Gates and Warren Buffett’s many years of friendship
Bill Gates’ much-awaited bi-annual reading list had a few non-reading recommendations this time around for those stuck at home and looking for a distraction. The eclectic list featured TV shows like A Million Little Things, This is Us and I, Claudius. But among the entertainment options was a surprising wild card entry - playing bridge. On his personal blog, Gates confessed to playing bridge with his favourite playing partner - fellow billionaire Warren Buffett. “I’ve been playing bridge for years—Warren Buffett is my favourite partner. We don’t get together in person now that we’re sheltering in place, but we still play online,” he wrote. “There are lots of great options out there, including this guide to learning the game, and the online platform that Warren and I play on, which is called Bridge Base. I'll keep our screen names between us.” This revelation is just an example of the deep friendship Gates and Buffett share. Here … [Read more...] about Bridge, golf and mattress testing: Inside Bill Gates and Warren Buffett’s many years of friendship
Remain cautious; don’t raise equity allocation now: S Naren, ICICI Pru AMC
We are very positive on mid and smallcaps as a long-term SIP theme where you invest every year for the next five years. It is not the time for lumpsum investment, S Naren, CIO, ICICI Prudential AMC, talks to Nikunj Dalmia of ET Now.Edited excerpts: This time six months ago, you said a fall was coming, fasten your seatbelts. The fall came on Friday. Do you think this is the beginning of a decline or is it that volatility is back and there is no risk per se? Market is still not cheap. If you look at the market, today we are closer to the all-time high than at a situation where we can say that the market is dirt cheap at this point of time. It is Nifty which is at an all-time high. Small and midcap stocks have corrected, the indices have corrected 25% to 30%. But if you look at the smallcap indices, they have gone up 200% in five years. Obviously, they have corrected 20% from the top but I do not think we are in a phase yet where we can say smallcaps is cheap, put your money in … [Read more...] about Remain cautious; don’t raise equity allocation now: S Naren, ICICI Pru AMC
