Everything You Missed At This Weekend’s Berkshire Hathaway Meeting

Warren Buffett and his business partner Charles Munger held court for more than five hours at the Berkshire Hathaway annual meeting, fielding questions from shareholders and imparting their views with their usual wisdom, wit and down-to-earth personalities.

The 2019 meeting took place on Saturday in Omaha, where the conglomerate is based, and topics ranged from succession plans to share buybacks to value investing. The billionaire Buffett is known for boiling down complex issues into simple explanations so even novice investors can follow along. Here’s everything you missed from this year’s “Woodstock for Capitalists.”

Time For Tech

Berkshire has been buying Amazon.com shares, and the purchases will show up in a regulatory filing this month, Buffett revealed. He earlier told CNBC that he’s been “a fan” of the online retail giant and was “an idiot for not buying” shares earlier. Buffett has said that he mostly avoided technology stocks because he didn’t understand the sector. “There were a huge number of people that knew more about the game than I did,” Buffett said. “We don’t want to try to win a game we don’t understand.” Indeed, the sprawling conglomerate runs companies that include insurers, utilities, railroads and retailers. Berkshire also has a large portfolio of stock investments in companies such as Coca-Cola and Bank of America. Buffett said one of his managers made the Amazon.com investment. (Portfolio managers Todd Combs and Ted Weschler each manage about $ 13 billion for Berkshire. Buffett is chairman and chief executive officer; Munger serves as vice chairman). Buffett said the investment fits with his value-investing philosophy, with his money managers looking at financial metrics such as sales, cash and debt. Berkshire’s investment in Apple Inc. also was made by one of his deputies. Buffett said he’s bullish on Apple – and Apple CEO Tim Cook was in the audience. Munger lamented missing some early technology bets such as Google. “We just sat there sucking our thumbs,” he said.

Why Not More Buybacks?

Berkshire is sitting on a cash pile of more than $ 100 billion, and investors are eager to see how he plans to deploy it. First quarter earnings posted ahead of the meeting showed that Berkshire repurchased $ 1.7 billion of Class A and Class B shares. Even with the buybacks, Berkshire still had more than $ 114 billon in the first quarter.

“We will buy stock when we think it is selling below a conservative estimate of its intrinsic value,” Buffett said. Munger added that he thought Berkshire would “get more liberal in repurchasing shares.” Buffett said buying back shares is beneficial to Berkshire shareholders, but a pile of cash won’t influence the timing. “We want to be sure when we repurchase shares that people who haven’t sold their shares are better off than before,” he said. ‘Sky-High Prices’ Shareholders also want to know if he’ll use the cash for deals. Buffett, who built Berkshire with acquisitions of undervalued companies and stock picking, said in the annual letter that he wants to make an “elephant-sized” purchase but couldn’t because “prices are sky-high.” Last week Berkshire agreed to invest $ 10 billion in Occidental Petroleum Corp. in its bid to buy Anadarko Petroleum Corp. Buffett said he’s ready for more opportunities like that, as other companies see how quickly that deal came together. He said if there are even larger transactions, “they’ll think of Berkshire Hathaway for sure.” Kraft Heinz Headache Berkshire’s first-quarter results excluded Kraft Heinz Co., which hasn’t filed its 2018 earnings with the Securities and Exchange Commission. Berkshire took a $ 2.7 billion hit in the fourth quarter from its stake in the consumer goods giant, which took a write down on several assets. Buffett reiterated that Berkshire and private equity firm 3G Capital overpaid for Kraft and that the company is doing well operationally. (As for first-quarter results, Berkshire posted more than $ 20 billion in net earnings in part to higher insurance investment income).

Defending Wells Fargo Munger defended Tim Sloan, the ousted CEO of the embattled Wells Fargo bank. Berkshire is Wells Fargo’s largest shareholder, owning a nearly 10% stake in the beleaguered bank. “I wish Tim Sloan was still there,” Munger said. Buffett said Wells Fargo “made some big mistakes,” in not dealing with the sales practice scandal sooner. “They incentivized the wrong behavior.” “When you find a problem you have to do something about it,” he added.

‘Card-Carrying Capitalist’

One question focused on increasing criticism of capitalism. “I’m a card-carrying capitalist,” said Buffett, a longtime Democrat. “You don’t have to worry about me changing in that matter. I also think capitalism does involve regulation. It involves taking care of people who are left behind.” “I don’t think the country will go into socialism in 2020 or 2040 or 2060,” he said.

Succession Plans

Buffett is 88 and Munger is 95. Buffett didn’t directly answer questions about who will eventually take over. Longtime Berkshire executives Greg Abel and Ajit Jain are the favorites to take the reins from Buffett and were promoted last year. Abel leads Berkshire’s noninsurance businesses and Jain runs all of the insurance-related business. “These moves were overdue,” Buffett wrote in the annual letter in February about the promotions. “Berkshire is now far better managed than when I alone was supervising operations. Ajit and Greg have rare talents, and Berkshire blood flows through their veins.” Buffett and Munger shared the stage at an arena in Omaha for the meeting but shareholders got to hear Jain and Abel answer questions on insurance and energy investments. Setting the stage for the future? “By any yardstick you use I’m going downhill,” Buffett said about aging. He said if he took the SAT test now and compared it with a score from his younger self, it would be “embarrassing.” Still, “I do think I know a lot more about human behavior than I did when I was 25 or 30.”

 

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Today in Movie Culture: Everything You Missed in ‘Avengers: Endgame,’ How ‘Blade’ Led to the MCU and More

Today in Movie Culture: Everything You Missed in ‘Avengers: Endgame,’ How ‘Blade’ Led to the MCU and More

Here are a bunch of little bites to satisfy your hunger for movie culture:

 

Easter Eggs of the Day:

Now that everyone on Earth has apparently seen Avengers: Endgame, according to the billion dollars it made over one weekend, it’s time to get into spoiler territory on the 22nd Marvel Cinematic Universe installment. So, here’s Mr. Sunday Movies with an amusing deep dive into all the Easter eggs and other important details you may have missed:

 

Fun…

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R. Kelly’s Lawyers Said He Missed Court Because He Can’t Read

Entertainment-US-music-assault-RKelly-crime-children-celebrity

Source: JOSHUA LOTT / Getty

R. Kelly recently lost a civil lawsuit against him but his lawyers claim it isn’t his fault that he did not show up. His lawyers, Zaid Abdallah and Raed Shalab, filed legal documents saying that he did not appear in court  due to his inability to read.

According to TMZ, the documentation says that the disgraced singer “suffers from a learning disability that adversely affects his ability to read … in essence he cannot.”

The Chicago crooner was due in court after being being sued by a woman named Heather Williams who claims Kelly sexually abused her when she was 16-years-old. Since Kelly did not show up to court this week, she won by default. Abdallah and Shalab are asking the judge to vacate the default decision and start the case over so Kelly can be present.

Kelly was reportedly “overwhelmed” when he was served with papers while in Cook County jail because he couldn’t understand what it said.  Williams claimed that she tried to have Kelly served at his home at the Trump Towers but the heavy security made it impossible. Kelly had been jailed after being charged with 10 counts of aggravated criminal sexual abuse for a separate case regarding unpaid child support.

After the airing of the Lifetime docu-series, Surviving R. Kelly, his life began to fall apart. Not too long after it aired he was charged with sexual abuse and was being hunted down for child support. The once admired musician was also dropped by his record label. Kelly tried to defend himself during an interview with CBS’ Gayle King but ended up becoming unraveled and emotional during their cringe-worthy sit-down. On May 4th, Lifetime will be airing Surviving R. Kelly: The Impact  to follow-up with the women and families who were affected by Kelly’s alleged abuse.

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Girls and boys on autism spectrum tell stories differently, could explain ‘missed diagnosis’ in girls

A new study examined differences in the way girls and boys on the autism spectrum used certain types of words during storytelling. This study found that autistic girls used significantly more ‘cognitive process’ words such as ‘think’ and ‘know’ than autistic boys, despite comparable autism symptom severity.
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Back To Jail? R. Kelly Missed Last Two Child Support Payments: Report

R. Kelly Mugshot

Source: Cook County Department of Corrections

R. Kelly could be in jail soon, but not necessarily because of his perverted ways. He’s also a deadbeat father (surprise) and could be arrested, yet again, for failed child support payments.

“The singer has missed his last 2 months of child support payments to his ex, Drea Kelly,” sources tell TMZ. The site goes on to refresh our memories about his required $ 20,833/month payment to his ex.

ICYMI, Kelly was thrown in jail in March, reportedly due to a $ 161,633 delinquency, but was released after paying the bill. At a later court date, he reportedly asked the judge to lower his monthly child support payment, stating he can’t afford it anymore. “The judge said he’d hear arguments but that won’t happen until May 8. In the meantime, he owes $ 20k+ a month and it’s clear … the judge means business,” TMZ reports.

Stay tuned for another inevitable mugshot.

Photo: Cook County Department of Corrections

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The Best Way to Electronically File Taxes, Plus, Deductions You May Have Missed

Today is the day that all taxes are due. So how do you digitize your taxes and claim your deductions? For starters, use online services like TurboTax. It makes filing extremely seamless. Here is a list of deductions that you should look into and take full advantage of:

1. Home Office Tax Deduction

The eligibility rules for claiming a home office vary, but remote workers and self-employed filers make sure you claim this break. You are also eligible to write off expenses that are associated with the portion of your home where you exclusively conduct business. These expenses include rent, utilities, insurance, and housekeeping.

2. Business Expenses

If you drive for Uber on the weekends or rent out your house on Airbnb, you could qualify as a business owner and should be filing a Schedule C tax form. As a general rule, freelancers can write off business-related expenses but they have to be necessary.

3. Student Loan Interest Paid

You can deduct up to $ 2,500 of student loan interest per return, per year. You can claim the student loan interest tax deduction as an adjustment to income. You don’t need to itemize deductions to claim it. Go to your student loan provider to access the forms and upload them on TurboTax.

4. Moving Expenses

Don’t be fooled. The moving expense deduction is no longer available in tax years 2018 – 2025 due to the Tax Cuts and Jobs Act (TCJA) but there are some exceptions to the rule. If you moved to a new location because of work and are a member of the military, you may qualify to use IRS Form 3903 to claim the cost of your moving expenses as a deduction on your federal income tax return.

5. Claim your Dependents

New tax laws allow you to claim a dependent credit, either $ 500 or $ 2,000 depending on the status of the dependent.

Don’t be late and remember if you need to file an extension, you can do so here.

The post The Best Way to Electronically File Taxes, Plus, Deductions You May Have Missed appeared first on Black Enterprise.

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Investors may have already missed out on the bulk of the market’s gains this year

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Commerce Secretary Dismisses Federal Workers’ Concerns About Missed Paychecks

While some of the thousands of federal workers impacted by the ongoing government shutdown have resorted to going to food banks, Commerce Secretary Wilbur Ross has expressed confusion at why the workers would be taking such measures.
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The Bears Mascot Had the Perfect Reaction to Losing to the Eagles On a Missed Field Goal

The mascot of the losing team is not usually known to be the center of attention at the end of a game.

But during the wild card matchup against the Philadelphia Eagles at Soldier Field on Sunday night, online spectators couldn’t help but note the Chicago Bears mascot’s dramatic reaction to a dramatic loss.

He just fell in defeat, ever so slowly, and he did so with the utmost gravitas.

His soul was crushed, and the internet was smitten.

The Eagles ultimately triumphed 16-15 by shutting down the Bears at the last possible moment thanks to a missed field goal. Cody Parkey’s 43-yard field goal attempt hit the uprights, smacked into the crossbar, and fell back into the field of play in the final seconds, clinching the win for the Eagles.

It was bad news for the Bears and exciting news for fans of the 2018 Super Bowl champions, and the Bears mascot reacted accordingly.

In a different sport entirely, Philadelphia’s own Gritty, the hockey mascot for the Philadelphia Flyers, has a large internet fan base.

But on Sunday night, the internet was in love with a new guy, Staley Da Bear.

Of all the Bears and eagles highlights, all agreed that his strong reaction on the field was something of a masterpiece and people have plenty to say about it.

The Eagles will advance to play the top-seeded New Orleans Saints in Sunday’s divisional round, but not before the internet recovers from some considerable internet breakage at the hands of the Bears mascot.

His antics are not entirely new, but they were appreciated.

Here is the mascot acing the best Bears reaction to loss to Eagles. He is the real most valuable player.

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Trump’s Paris trip marked by missed moments — and a dire warning

First it was a second-place replacement for his own grand military parade. Then it was a stately gesture to illustrate an alliance he’s done little to cultivate. After a midterm election drubbing, it was an opportunity to retreat and regroup.


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41 Spooky ‘Chilling Adventures of Sabrina’ Details You Probably Missed

WARNING: This articles contains spoilers for the first season of Chilling Adventures of Sabrina. Proceed at your own risk, witches.

If you know what’s good for you, you’ve binged all of Chilling Adventures of Sabrina and are ravenous for more. Even though it’ll probably be a while until we get more episodes, we have some delicious morsels to tide you over.

Back in September, we got to visit everyone’s favorite Greendale witch up on set in Vancouver and chat with all the brilliant creative minds behind the show — from cast members to behind-the-scenes crew. Here’s everything we learned, and everywhere you can literally find the devil in the details.

Look Out For Horror All the Horror Movie References

1. The doors in Father Blackwood’s office are the same design as the iconic doors from the 1977 horror movie Suspiria.

2. The Spellman Family’s living room ceiling is also a nod to Suspiria.


Suspiria Chilling Adventures of Sabrina
The Spellman’s ceiling and ‘Suspiria.’

3. All of the artwork in the Academy on Unseen Arts was supplied by horror icon Clive Barker. Over 150 of his pieces are on display throughout the show.

4. Father Blackwood has a table and stools in his office that, when pushed together, form the same shape as the Hellraiser box.


Hellraiser Chilling Adventures of Sabrina
Father Blackwood’s office and ‘Hellraiser.’

The Crew Used Real Magic On Set

5. When someone on the set of Chilling Adventures sneezes, everyone says “Hail Satan” instead of “bless you.”

6. The crew cast real protection spells around the set. If you look closely at the Spellman house, you might spot a real German protection spell engraved on the wall and a protection spell on the floor.


Spells Chilling Adventures of Sabrina
Spell engravings from the set.

7. Sabrina’s signature color is red — it signifies power, femininity, and fierceness. Production designer Lisa Soper did a tarot card reading for every character in the show to determine their signature color palette, and for Sabrina, she drew the Magician card.


Chilling Adventures of Sabrina
The Magician tarot card and Sabrina Spellman.

Pay Attention to the Colors

8. The witch world is associated with brighter colors throughout the show, and humans are associated with more muted and mundane colors.

9. There are small touches of red throughout the show that are meant to guide Sabrina on her journey.


Chilling Adventures of Sabrina
Touches of red guide Sabrina.

10. The juxtaposition of Sabrina in her red clothing and the surrounding green woods of Greendale is also a subtle nod to Alfred Hitchcock’s use of the two colors.

11. Hilda and Zelda’s shared bedroom colors mirror their personalities: Zelda’s side is purple (symbolizing her fight to uphold the Church of Night’s established structure and rules), and Hilda’s side is green (symbolizing her progressive nature and ability to let things grow and flourish).

The Spellman House is a Work of Art

12. The shoes on the wall outside of Zelda and Hilda’s room all belong to Zelda. Every time Zelda casts a hex on someone, she binds the magic to a shoe and places it on the wall for safe keeping. As long as the shoe remains there, the person remains hexed.


Zelda Chilling Adventures of Sabrina hexed shoes
Zelda's hexed shoe wall.

13. There’s a movie poster for Whatever Happened to Baby Jane in Ambrose’s room, which is a sardonic nod to his aunts.

14. If you look closely at Sabrina’s bedroom mirror, you’ll see pictures of Harvey as well as the Tarot cards for judgement (signifying that she’s having trouble deciding which path to take) and the Queen of Wands (signifying the decision to finally embrace her own power).

15. Sabrina’s dollhouse includes an exact replica of her bedroom.


Chilling Adventures of Sabrina dollhouse
The inside of Sabrina’s doll house.

16. There’s a super creepy monster watermark on the hallway wall that leads to the embalming room.



17. The Spellman House is designed to appear more normal in the front, and then get gradually more magical and witchy as you get further away from where Hilda, Zelda, and Ambrose meet clients.

18. Nature is a huge theme throughout the show, and is meant to symbolize rebirth and earth taking over.

19. If you look closely, you’ll notice that Hilda and Zelda share a chair in the Spellman Mortuary office.


Chilling Adventures of Sabrina Hilda Zelda chair
Hilda and Zelda's shared chair.

20. The living room wallpaper is the Gibson Girl, Charles Dana Gibson’s feminine ideal from the 1800s.

21. The Spellman’s front door is modeled after the door from Nathaniel Hawthorne’s novel The House of Seven Gables — complete with the signature iron spikes, but updated and painted in Sabrina’s signature color.

22. Sabrina’s Dark Baptism was based on Goya’s famous “Witches’ Sabbath” painting, which hangs in the living room.


Chilling Adventures of Sabrina Goya painting
Sabrina's Dark Baptism and the Goya painting.

23. Everything in the Spellman House is built to be slightly off-kilter — from the walls to the staircase. It was a huge challenge for the crew to build.

24. Most of the paintings in the show are meant to reflect the theme of feminine strength, including “The Magic Circle” by John William Waterhouse hanging near the Spellman’s kitchen.


Chilling Adventures of Sabrina art
‘The Magic Circle’ by John William Waterhouse.

The Devil’s in the Details

25. Every object on Miss Wardwell’s fireplace is significant and has something to do with each episode — you can even see the Red Angel of Death.

26. Miss Wardwell has a specific doll for every single character in the show, and showrunner Roberto Augirre-Sacasa has a duplicate of every single one that’s been made.


Chilling Adventures of Sabrina Miss Wardwell dolls
Miss Wardwell's devilish dolls.

27. The crucifix over Miss Wardwell’s fireplace turns upside side once she becomes possessed by Madam Satan.

28. Zelda reads newspapers in different languages because she’s a brilliant badass.


Chilling Adventures of Sabrina Zelda Spellman
Zelda's newspapers.

29. Susie’s room is full of nods to her gender identity and journey, including a quote from ‘Metamorphosis’ on her wall.


Chilling Adventures of Sabrina Susie Putnam Metamorphosis
Susie's bedroom wall.

The Academy of Unseen Arts is Full of Surprises

30. All of the books in the Baxter High Library are real, but the books in the Academy of Unseen Arts are fake and built by hand.

31. The Academy was designed in the shape of a pentagram, and is meant to have an infinite number of hallways and rooms.

32. The big satan sculpture inside the Academy is modeled after Baphomet, the Church of Satan’s sigil.


Chilling Adventures of Sabrina Baphomet sculpture
The sculpture in the Academy of Unseen Arts.

33. The sculpture is made of foam and took three days to hand carve. It’s super light and you can pick it up pretty easily.

34. Father Blackwood has fully functional fireplaces on both sides of his desk to make it seem like he’s always surrounded by hellfire.

Father Blackwood Is A Lot Like…Meryl Streep?

35. Actor Richard Coyle based his portrayal of Father Blackwood on Meryl Streep in The Devil Wears Prada, as well as Paul Scofield in The Crucible and Charles Lawton in Spartacus. “There’s something clipped about all of those characters and they way they present themselves,” Coyle said. “And there’s something meticulous about Blackwood, and clean and reptilian and cold-blooded.”


Chilling Adventures of Sabrina Father Blackwood
Meryl Streep in 'The Devil Wears Prada' and Father Blackwood.

36. Father Blackwood originally wore creepy false teeth, but Coyle said he “looked like Christopher Walken in Sleepy Hollow.”

37. According to actor Chance Perdomo, Ambrose’s style is equal parts “David Bowie and Jimmy Hendrix on a quiet day.”

38. Actor Michelle Gomez originally based her voice for Miss Wardwell on Maggie Smith, but was asked in her audition to try something else.

39. The prop heart Ambrose eats in Episode 5 was made of gelatin and corn syrup. Perdomo said it was “sticky and very chewy, sweet, both awesome and very unpleasant at the same time.”


Chilling Adventures of Sabrina Ambrose heart
Ambrose eats his own yummy heart.

40. Actor Kiernan Shipka, like her on-screen character Sabrina, is super hard to scare. Shipka said, “That’s why I think I really like horror, because I feel like it’s almost testing me to a certain level.”

Try to Find the Secret Jughead Easter Egg

41. There’s a secret Jughead crown and message (“Jughead was here”) carved into the Fiction (R-V) bookshelf in the Baxter High Library. There’s also a piece of Aguirre-Sacasa’s old homework lying around somewhere in the library.


Chilling Adventures of Sabrina jughead
Jughead and his hidden easter egg.

The post 41 Spooky ‘Chilling Adventures of Sabrina’ Details You Probably Missed appeared first on FANDOM.

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Starter Yankees missed out on gives Astros commanding lead

HOUSTON — Everyone knows about the Astros’ amazing starting pitchers, led by Justin Verlander and Gerrit Cole — you remember him Yankees fans. But it is not just the starters, the Astros have a complete staff, something rare these days, as they rebuilt their bullpen this season. They added setup man Ryan Pressly and closer…
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