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<ul><li><keyword id="6358963" type="DEFINITION" weightage="60" keywordseo="Warren-Buffett">Warren Buffett</keyword>'s <keyword id="6362665" type="ORGANIZATION" weightage="60" keywordseo="berkshire-hathaway">Berkshire Hathaway</keyword> bought a stake in <a href="https://markets.businessinsider.com/stocks/gold-stock">Barrick Gold</a> in the second quarter, <a href="https://www.sec.gov/Archives/edgar/data/1067983/000095012320009058/xslForm13F_X01/960.xml">a Friday filing showed</a>.</li><li><keyword id="101638" type="COMPANY" weightage="60" keywordseo="Barrick-Gold">Barrick Gold</keyword> surged as much as 12% on Monday.</li><li>The total stake in Barrick <keyword id="18712" type="ENTERTAINMENT" weightage="60" keywordseo="Gold">Gold</keyword> was worth about $564 million, the filing said.</li><li><a href="https://markets.businessinsider.com/stocks/gold-stock">Watch Barrick Gold trade live on Markets Insider</a>.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Read more on Business Insider</a>.</li></ul><a href="https://markets.businessinsider.com/stocks/gold-stock">Barrick Gold</a> surged as much as 12% on Monday after Warren Buffett's Berkshire Hathaway revealed it bought a stake in the mining company.Berkshire Hathaway bought 21 million shares of the gold and copper miner worth roughly $564 million in the last quarter, <a href="https://www.sec.gov/Archives/edgar/data/1067983/000095012320009058/xslForm13F_X01/960.xml">a Friday filing</a> with the Securities and Exchange Commission showed.The buy comes <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-barrick-gold-miner-investment-big-change-2020-8-1029508701">as a bit of a surprise</a>; Buffett has been critical of gold, saying <a href="https://markets.businessinsider.com/news/stocks/why-warren-buffett-unhappy-berkshire-hathaway-record-137-billion-cash-2020-4-1029181516?utm_source=markets&amp;utm_medium=ingest#est#">it isn't as good of an investment</a> as businesses, farms, and real estate. Still, the precious metal has <a href="https://markets.businessinsider.com/commodities/news/gold-price-hits-new-record-high-briefly-tops-stimulus-bill-2020-8-1029468528#">been on a tear this year</a> as the coronavirus pandemic has sent investors rushing into the so-called safe-haven asset.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-investing-strategy-for-biden-election-win-2020-8" target="_blank" rel="noopener">RBC says buy these 47 stocks spanning every industry that are poised to crush the market if Joe Biden wins in a wave election.</a>While the stake in Barrick Gold is small for Berkshire Hathaway — the entire portfolio is worth about $202 billion — Buffett's company is now the miner's 11th-largest shareholder.Beyond the investment in Barrick Gold, Buffett's Berkshire Hathaway <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-sells-jpmorgan-wells-fargo-buys-barrick-gold-2020-8-1029506182#">trimmed its stakes in big banks</a> such as Wells Fargo and JPMorgan and exited Goldman Sachs.Barrick Gold had surged 45% year-to-date through Friday's close.Read more: <a href="https://www.businessinsider.com/genz-millennial-day-trading-investing-discord-server-eagle-investors-profile-2020-8" target="_blank" rel="noopener">Inside Eagle Investors, the 20,000-member online community run by 2 Indiana University students that's helping spearhead the Gen Z day-trading revolution</a><a href="https://markets.businessinsider.com/stocks/gold-stock"><div type="image" title="Screen Shot 2020 08 17 at 8.24.04 AM" height="1156" width="1560" msid="77593604" hostid="261"></div></a>

Barrick Gold surges 12% after Warren Buffett's Berkshire Hathaway buys a stake

<ul><li><keyword id="6358963" type="DEFINITION" weightage="60" keywordseo="Warren-Buffett">Warren Buffett</keyword>'s <keyword id="6362665" type="ORGANIZATION" weightage="60" keywordseo="berkshire-hathaway">Berkshire Hathaway</keyword> took a surprise stake in <keyword id="101638" type="COMPANY" weightage="60" keywordseo="Barrick-Gold">Barrick Gold</keyword> earlier this year.</li><li>The famed investor's endorsement could spur more investors to bet on the metal, <keyword id="5904584" type="COMPANY" weightage="60" keywordseo="novagold">NovaGold</keyword> chairman <keyword id="2751580" type="PERSON" weightage="60" keywordseo="Thomas-Kaplan">Thomas Kaplan</keyword> said on an earnings call this week.</li><li>"He's made it safe for anyone interested in <keyword id="18712" type="ENTERTAINMENT" weightage="60" keywordseo="Gold">gold</keyword> to be looking at the gold narrative," he added.</li><li>Kaplan previously <a href="https://markets.businessinsider.com/news/stocks/billionaire-thomas-kaplan-thanked-warren-buffett-buying-3500-tons-silver-2020-5-1029228427#">benefited</a> from Buffett's <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-bought-3500-tons-silver-made-thomas-kaplan-billionaire-2020-5-1029228443#">unexpected purchase</a> of 130 million ounces of silver in the late 1990s, as it legitimized the metal as an investment.</li><li><a href="https://www.businessinsider.com/international?r=US&amp;IR=TIR=T">Visit Business Insider's homepage for more stories</a>.</li></ul>Warren Buffett's surprise bet on <a href="https://markets.businessinsider.com/stocks/gold-stock">Barrick Gold</a> has given investors the green light to buy the precious metal, billionaire investor Thomas Kaplan said on NovaGold's third-quarter earnings call this week.Buffett "effectively detoxified gold" when his Berkshire Hathaway conglomerate <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-sells-jpmorgan-wells-fargo-buys-barrick-gold-2020-8-1029506182#">revealed</a> a $564 million stake in the gold miner in August, the NovaGold chairman said."He's made it safe for anyone interested in gold to be looking at the gold narrative," Kaplan added, according to a transcript on Sentieo, a financial-research site.Read More: <a href="https://www.businessinsider.com/investment-advice-portfolio-positioning-congress-fiscal-stimulus-blackrock-mike-pyle-2020-9" target="_blank" rel="noopener noreferrer">BlackRock's investment chief breaks down why Congress passing a second round of fiscal stimulus is 'quite serious' for markets and the economy — and pinpoints which sectors will benefit in either scenario</a>Barrick and NovaGold are 50-50 owners of the Donlin Gold project in Alaska, making Kaplan a major beneficiary of a Buffett bet <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-barrick-gold-bet-helps-billionaire-thomas-kaplan-novagold-2020-8-1029525662#">for the second time</a>.Buffett <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-bought-3500-tons-silver-made-thomas-kaplan-billionaire-2020-5-1029228443#">disclosed his purchase</a> of 130 million ounces of silver in February 1998, legitimizing the metal as an investment shortly before Kaplan took his silver-mining company public. Kaplan <a href="https://markets.businessinsider.com/news/stocks/billionaire-thomas-kaplan-thanked-warren-buffett-buying-3500-tons-silver-2020-5-1029228427#">personally thanked the investor</a> at a dinner several years later.Berkshire's Barrick Gold bet was unexpected as Buffett previously dismissed gold as a worse investment than <a href="https://markets.businessinsider.com/news/stocks/why-warren-buffett-unhappy-berkshire-hathaway-record-137-billion-cash-2020-4-1029181516?utm_source=markets&amp;utm_medium=ingest#est#" target="_blank" rel="noopener">businesses, farms, and other productive assets</a>. The metal is "neither of much use nor procreative," he said in his <a href="https://www.berkshirehathaway.com/letters/2011ltr.pdf" target="_blank" rel="noopener">2011 shareholder letter</a>.On the NovaGold call, Kaplan listed several reasons why investors such as Buffett, <a href="https://markets.businessinsider.com/commodities/news/gold-price-ray-dalio-invested-400-million-precious-metal-q2-2020-8-1029501695">Ray Dalio</a>, and Leon Cooperman — who <a href="https://markets.businessinsider.com/news/stocks/leon-cooperman-cheers-tech-stocks-slams-trump-discloses-gold-investment-2020-10-1029639386#">revealed this week</a> that he bought gold for the first time ever last month — may be flocking to the metal.Read More: <a href="https://www.businessinsider.com/investing-strategy-evan-buenger-shares-secret-process-to-returns-canslim-2020-9" target="_blank" rel="noopener noreferrer">US Investing Championship hopeful Evan Buenger raked in a 131.9% return through August. He shares the distinct spin he's putting on a classic trading strategy that's led to his outsize returns</a>Some are seeking to diversify their portfolios, find a haven in rocky <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword>, and hedge against a weaker dollar, inflation due to government spending, or deflation due to a global economic slowdown, he said.Others want to escape cash and bonds in the face of rock-bottom interest rates, cut their exposure to corporate bankruptcies and loan defaults, and tap into robust emerging-market demand, he continued.Supply drivers also support higher prices, Kaplan said. Falling ore grades and yields, fewer explorers striking gold, rising production costs, shrinking inventories, and jurisdictional risks are creating a "perfect storm in gold."

Warren Buffett's gold bet has 'made it safe' to buy the metal, billionaire investor Thomas Kaplan says

Gold just hit a five-year low.On Friday morning, the precious metal fell more than 1% to as low as $1,129.80 an ounce, the lowest since 2010.In a morning note to clients on Friday, Accendo Markets wrote: "Gold ($1,144) lower yet again after the German conservatives voted to start talking about the details of a third Greek bailout while Grexit plans were locked away for the time being. So when investors are confident, they sell gold; when they're worried, they don't buy it. A strong US dollar with all this talk of interest-rate hikes likely contributing to gold's seeming change of purpose of late with the three-month downtrend intact."On Friday, <a href="http://www.businessinsider.com/china-reveals-gold-holdings-2015-7">China disclosed</a> how much gold it's holding for the first time in six years. Its reserves rose 57%, and it is now the fifth-largest holder of gold.Gold mining stocks are getting slammed. Shares of Barrick Gold Corporation, the largest gold miner in the world, fell more than 5% - the lowest in <a href="https://twitter.com/hjesanderson/status/622056382339137536">24 years</a>. Newmont Mining shares fell 2%.Here's a chart showing the slide Friday morning:<div class="KonaFilter image-container display-table"><div><div class="image">Finviz</div></div></div>And here's a five-year chart of the price of gold:<div class="KonaFilter image-container display-table"><div><div class="image">Finviz</div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/new-apple-gold-macbook-unboxing-2015-4">UNBOXED: Apple's sleek new gold MacBook with just one port for everything</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="d4eW9qdDorcxcz2U7atn0LuEcaHf5Rie" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Gold just hit a 5-year low

<div class="KonaFilter image-container display-table"><div><div class="image on-image">APGold Bullion</div></div></div><ul><li>Michael Klein's boutique investment bank will split as much as $35 million in fees with Morgan Stanley for its role advising on a gold merger announced on Monday.</li><li>Klein's firm, M. Klein &amp; Co, is secretive and only employs a handful of bankers. </li><li>Klein is a former star banker from Citigroup who frequently advises governments and CEOs on complicated financial matters. </li></ul>A tiny and secretive boutique investment bank founded by star dealmaker and former Citigroup executive Michael Klein will split tens of millions of dollars in advisory fees <a href="https://www.businessinsider.com/r-canadas-barrick-gold-to-buy-randgold-resources-in-183-billion-deal-2018-9?r=UK&amp;IR=T">in an $18.3 billion gold merger announced on Monday. </a>M. Klein &amp; Co. will split as much as $35 million in fees with Morgan Stanley for advising Barrick Gold Corporation on its merger with UK-rival Randgold Resources Ltd., according to estimates from consulting firm Freeman &amp; Co. Randgold's advisors, Barclays and CIBC, might earn as much as $45 million, Freeman said. This is not the first time Klein's firm has provided advice to the Canadian gold miner. In 2015, M. Klein &amp; Co. <a href="https://uk.reuters.com/article/us-klein-m-a/wall-street-rainmaker-michael-klein-no-longer-a-one-man-show-idUKKCN0UR24920160113">advised</a> Barrick on the sale of its 50% interest in a copper mine in Chile.Launched in 2012, Klein's firm is regarded less of a traditional boutique investment bank, <a href="https://www.businessinsider.com/r-wall-street-rainmaker-michael-klein-no-longer-a-one-man-show-2016-1">and more as an "embedded adviser" to CEOs, boards of directors, institutional investors and governments.</a>But that's not to say that Klein doesn't advise big corporations on M&amp;A. The firm also advised Dow Chemical on its $130 billion megamerger with DuPont in 2015.It also <a href="https://www.bloomberg.com/news/articles/2017-11-07/saudi-fund-is-said-to-work-with-klein-evercore-on-strategy">reportedly worked with Saudi wealth fund Aramco on its global strategy. </a>But despite its status advising on high-profile matters, the New York-based investment bank keeps a very low-profile. Its website is barebones, aside from one contact number, with no marketing material.It's unclear how many employees now work at M. Klein. <a href="https://www.businessinsider.com/r-wall-street-rainmaker-michael-klein-no-longer-a-one-man-show-2016-1">A previous report said that the firm investment bank expanded to 20 employees in 2016</a> and had established its presence in London and Beijing.Klein <a href="https://www.businessinsider.com/jpmorgan-and-m-klein-and-co-to-advise-on-saudi-aramco-2016-4">spent more than two decades at Citigroup</a>, rising to the role of CEO of global banking and then moving to Europe to take responsibility for a build-out of the bank's investment-banking business in the region before leaving in 2008.See also:<ul><li><a href="https://www.businessinsider.com/qa-with-jpmorgans-anu-aiyengar-head-of-ma-in-north-america-2018-7">JPMorgan's US M&amp;A chief shares the secret sauce for getting deals to pop by flouting an old-school rule of dealmaking</a></li><li><a href="https://www.businessinsider.com/stock-trader-bonuses-expected-to-soar-across-wall-street-2018-5">Bonuses are about to soar across Wall Street - and a group left for dead might wind up the biggest winner</a></li><li><a href="https://www.businessinsider.com/dealmaking-boom-of-2018-could-be-among-greatest-years-on-record-2018-5">The dealmaking boom of 2018 could shape up to be one of Wall Street's greatest years on record</a></li></ul> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/big-mistake-investors-make-late-cycle-inflection-point-economy-versus-stocks-liz-ann-sonders-2018-8">Beware one huge mistake investors often make when the economy is at a crossroads, says Charles Schwab's investment chief</a></h3> <div> </div> </div>

A tiny firm led by a rockstar banker will make a killing on a $18.3 billion gold miner merger

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>The S&amp;P 500 crossed its previous closing high reached two months ago on Monday, and the Nasdaq broke its previous highs reached Friday. It was an ugly day for commodities.First, the scoreboard:<ul><li>Dow: 18,120.25, +33.80, (0.19%)</li><li>S&amp;P 500: 2,131.11, +4.47 (0.21%)</li><li>Nasdaq: 5,228.37, +18.23, (0.35%)</li></ul>And now, the top stories on Monday:<ol><li><a href="http://www.businessinsider.com/gold-just-got-destroyed-2015-7">Gold crashed</a> to a five-year low. Overnight, the spot price of gold fell 3.8%, or $43, within a few seconds. The precious metal fell more than 2% to as low as $1,087.40 an ounce on Monday. An analyst at ANZ bank said the move was caused by "[the] nature, size, and timing of the heavy selling." An <a href="http://www.businessinsider.com/gold-price-flash-crash-caused-by-five-tonnes-of-chinese-bullion-2015-7">investor in China</a> dumped the equivalent of one-fifth of a normal day's trade in two minutes.</li><li><a href="http://www.businessinsider.com/gold-mining-stocks-july-20-2015-7">Gold miners got smoked</a>. Among the biggest losing stocks were Barrick Gold, the world's largest miner of the metal, which fell more than 14% to a 25-year low. Newmont Mining fell 11% - the most on the S&amp;P 500, and shares of Kinross Gold Corporation fell to an all-time low. Gold mining stocks <a href="http://www.businessinsider.com/london-gold-miners-stocks-killed-by-the-chinese-gold-dump-2015-7">listed in London</a> also fell sharply. The Gold Miners ETF fell nearly 10%, and the SPDR Gold Shares ETF fell more than 2%.</li><li>West Texas Intermediate crude oil briefly fell <a href="http://www.businessinsider.com/crude-oil-price-july-20-2015-7">below $50 per barrel</a> for the first time since April 6. Oil prices marked a third weekly decline on Friday, amid concerns of oversupply in the market. Iranian oil exports are expected in about a year, following the impending lifting of economic sanctions. And, according to JP Morgan, surging <a href="http://www.businessinsider.com/jp-morgan-says-iraq-oil-production-bigger-threat-than-iran-2015-7">Iraqi production</a> is, in fact, a bigger threat to the oil market. </li><li>Greece has used its emergency loan to <a href="http://www.businessinsider.com/greece-pays-the-imf-2015-7">pay back</a> the IMF and the ECB. In a statement Monday, an IMF spokesperson confirmed that Greece paid all of its arrears to the IMF, totaling about EUR 2 billion. Greece also paid EUR 4.2 billion to the ECB. Greek <a href="http://www.businessinsider.com/r-greek-banks-ready-to-open-monday-expect-long-queues-2015-7">banks reopened</a> today after they had been closed for three weeks as part of capital controls.</li><li>Shares of <a href="http://www.businessinsider.com/sunedison-to-acquire-vivint-solar-2015-7">Vivint Solar surged</a> more than 44% after the announcement that SunEdison and TerraForm are acquiring the company. According to the statement, the deal will boost SunEdison's operations in the residential and commercial solar energy space. Vivint Solar is selling for $2.2 billion in a combination of cash and stock. SunEdison is offering Vivint shareholders $16.50 a share, a 52% premium to Friday's closing price of $10.88.</li><li>The <a href="http://www.businessinsider.com/pearson-may-sell-the-financial-times-2015-7">Financial Times</a> may be for sale. According to Bloomberg, Pearson is looking into bidders for the 127-year-old British newspaper in a deal that would value the FT at about $1.6 billion. People familiar with the matter said that digital publishing giant Axel Springer may be a possible buyer.</li></ol>DON'T MISS: <a href="http://www.businessinsider.com/goldman-sachs-global-macro-forecast-july-2015">Goldman's complete outlook for markets and the economy in one big slide »</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/new-air-force-one-tour-boeing-private-jet-2015-5">Take a tour of the $367 million jet that will soon be called Air Force One</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="4zNWQ2dTq0SJxfj9SagVkmMxd7YoUovg" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

GOLD CRASHES, STOCKS NEAR ALL-TIME HIGHS: Here's what you need to know

<ul class="summary-list"><li>Technical issues at the New York Stock Exchange displayed incorrect stock prices on Monday.</li><li>Shares of Berkshire Hathaway Class A shares were down 99.97% for about two hours.</li></ul>A technical glitch at the New York Stock Exchange led to some stocks displaying incorrect prices on Monday.The technical glitch lasted for about two hours and led to trading halts for 40 impacted stocks. The technical error, which originated from the Consolidated Tape Association's real-time stock quotes, was fixed by about 11:45 am."After the market opened on the morning of June 3, 2024, a technical issue involving industry-wide price bands published by the Consolidated Trade Association's Securities Information Processor triggered 'limit-up/limit down' trading halts on up to 40 symbols listed on NYSE Group exchanges. Shortly before noon, the issue was resolved and trading in the impacted stocks resumed. The NYSE is reviewing potentially impacted trades," A NYSE spokesperson told Business Insider.During the glitch, Class A shares of <a href="https://markets.businessinsider.com/stocks/brk-a-stock?miRedirects=1">Berkshire Hathaway</a> were down 99.97% to just $185.10 per share. The incorrect share price data showed the stock losing more than $627,000 in value on trading volume of just over 3,000 shares.Class A shares of Berkshire Hathaway closed at $627,400 on Friday. The stock reopened at $648,000 at 11:36 am.Shares of <a href="https://markets.businessinsider.com/stocks/gold-stock">Barrick Gold</a> and <a href="https://markets.businessinsider.com/stocks/smr-stock">NuScale Power Corporation</a> were also briefly down 99% because of the glitch, while shares of <a href="https://markets.businessinsider.com/stocks/asr-stock">Grupo Aeroportuario Del Sureste</a> were down 66%. <a href="https://markets.businessinsider.com/stocks/cmg-stock">Chipotle</a> stock was also impacted, though it traded down just 1.2% before its trading was halted.The New York Stock Exchange is owned by <a href="https://markets.businessinsider.com/stocks/ice-stock">Intercontinental Exchange.</a>

A stock market glitch briefly showed Berkshire Hathaway stock down 99% after NYSE technical issue

<ul><li><keyword id="6358963" type="DEFINITION" weightage="60" keywordseo="Warren-Buffett">Warren Buffett</keyword> will answer questions at <keyword id="6362665" type="ORGANIZATION" weightage="60" keywordseo="berkshire-hathaway">Berkshire Hathaway</keyword>'s annual meeting on Saturday.</li><li>The famed investor is expected to discuss <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword>, deals, the <keyword id="43587" type="ORGANIZATION" weightage="60" keywordseo="pandemic">pandemic</keyword>, and the economy.</li><li>Here are 18 questions he might answer on the day.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">See more stories on Insider's business page</a>.</li></ul>Warren Buffett will be quizzed for several hours at Berkshire Hathaway's annual shareholder meeting on Saturday.The billionaire investor and Berkshire CEO has kept an <a href="https://www.businessinsider.com/warren-buffett-berkshire-hathaway-apple-stock-buybacks-acquisitions-7-experts-2021-2">extremely low profile</a> over the past year. Investors, commentators, and other market-watchers will be especially eager to hear from him as a result.Buffett will be joined by Charlie Munger - Berkshire's vice-chairman and his right-hand man - as well as Ajit Jain and Greg Abel, who head up the conglomerate's insurance and non-insurance divisions respectively. Insider will be liveblogging the meeting from 1:30 p.m. ET.<h2>Here are 18 questions Buffett might answer:</h2>1. Is he still bearish on the airline industry? Berkshire <a href="https://markets.businessinsider.com/news/stocks/why-warren-buffett-invested-big-4-airlines-sold-them-loss-2020-5-1029167021">exited its positions</a> in the "big four" US carriers in April 2020, as Buffett was concerned about fewer passengers, debt repayments, buyback restrictions, and other issues.2. What does he think about the US government modeling its airline bailouts on his financial-crisis deals? Sen. Jack Reed <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-financial-crisis-bailouts-us-government-airline-investor-2020-4-1029104038">told Insider</a> he got the idea to demand stock warrants from Buffett's <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-goldman-sachs-sale-billions-return-bailout-2020-5-1029212109">Goldman Sachs rescue</a>.3. Does he regret being so cautious when <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> crashed last year? Buffett was widely expected to deploy a chunk of Berkshire's cash reserves, but instead he focused on <a href="https://markets.businessinsider.com/news/stocks/why-warren-buffett-unhappy-berkshire-hathaway-record-137-billion-cash-2020-4-1029181516">protecting his shareholders' money</a>.4. Has Berkshire closed any of its businesses? Buffett's right-hand man, Charlie Munger, <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-charlie-munger-frozen-bosses-bailouts-coronavirus-2020-4-1029103102">said last year</a> Berkshire has a "a few bad businesses" that "won't reopen when this is over."5. Is he worried about the boom in day trading, meme stocks, SPACs, and cryptocurrencies? Buffett has <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-warned-against-speculating-day-traders-dont-care-2020-6-1029347328">warned against</a> speculation and <a href="https://markets.businessinsider.com/currencies/news/warren-buffett-best-quotes-bitcoin-cryptocurrencies-investing-rat-poison-squared-2021-1-1029974898">derided crypto</a> in the past, and <a href="https://www.businessinsider.com/warren-buffett-warned-investors-stocks-speculation-annual-letter-lawrence-cunningham-2021-3">flagged the dangers</a> of promoters in his latest annual letter. Munger has <a href="https://markets.businessinsider.com/currencies/news/charlie-munger-daily-journal-bitcoin-robinhood-spac-stock-market-speculating-2021-2-1030119897">slammed Robinhood</a> and bemoaned the "<a href="https://markets.businessinsider.com/news/stocks/warren-buffett-partner-charlie-munger-speculative-frenzy-stocks-lack-bargains-2021-1-1029993473">speculative frenzy</a>" in markets.6. What does he think about President <keyword id="60973" type="PERSON" weightage="60" keywordseo="Biden">Biden</keyword>'s tax and infrastructure plans? Buffett and Biden, who <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-joe-biden-presidential-election-america-global-leadership-2020-10-1029682841">spoke before the election</a> last year, have <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-joe-biden-share-views-america-taxes-earnings-guidance-2020-10-1029693830">both called for</a> higher taxes on the wealthy, criticized short-termism in corporate America, and trumpeted the nation's bright future.7. Does he think Apple is overvalued? Berkshire's Apple stake has <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-apple-stake-tripled-value-more-than-100-billion-2020-8-1029461041">tripled in value</a> since 2018 and now accounts for over 40% of its US stock portfolio.8. Why did he dump Goldman Sachs, JPMorgan, and Wells Fargo? Berkshire <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-sells-jpmorgan-wells-fargo-buys-barrick-gold-2020-8-1029506182">exited its Goldman position</a> and <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-invest-chevron-verizon-stocks-q4-portfolio-2021-2-1030089309">sold its JPMorgan holdings</a> last year, and has <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-cuts-wells-fargo-stake-17-years-2020-9-1029566739#">drastically reduced its Wells Fargo stake</a>.9. Why is he so bullish on Bank of America? Buffett <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-bank-of-america-buying-years-pay-off-experts-2020-8-1029477087">plowed $2.1 billion</a> into the stock over 12 days last year.10. What was Berkshire's reason for selling its <keyword id="294127" type="COMPANY" weightage="60" keywordseo="Costco">Costco</keyword> stake? The big-box retailer had been <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-sold-costco-stake-despite-praising-retailer-2020-11-1029826795">Munger's favorite company</a> for years.11. Does he still see value in BYD? Shares in the Chinese electric-vehicle company have <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-gain-byd-electric-vehicles-investment-2021-1-1029995920">skyrocketed since Berkshire invested in 2008</a>.12. Were his pharmaceutical investments spurred by the pandemic? Berkshire <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-buy-4-pharma-stocks-20-years-2020-11-1029815931">added</a> AbbVie, Bristol Myers Squibb, Pfizer, and Merck to its portfolio in the third quarter of 2020.13. What does he think about Berkshire betting on Barrick Gold and Snowflake? The uncharacteristic investments in a <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-barrick-gold-miner-investment-big-change-2020-8-1029508701">gold miner</a> and a <a href="https://markets.businessinsider.com/news/stocks/warre-buffett-berkshire-hathaway-570-million-snowflake-ipo-rare-unicorn-2020-9-1029574925">loss-making technology startup's IPO</a>, ostensibly by one of Buffett's deputies, surprised many Berkshire watchers last year.14. What appeals to him about Chevron and Verizon? Berkshire <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-invest-chevron-verizon-stocks-q4-portfolio-2021-2-1030089309">built multibillion-dollar stakes</a> in the energy group and telecommunications company in the fourth quarter of 2020.15. Is he still a fan of the Buffett indicator? The investor's namesake market gauge, which he lauded two decades ago, has surged to <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-indicator-record-high-overvalued-stock-market-crash-2021-2-1030067388">record highs</a> in recent months.16. Why is he betting big on natural gas? Berkshire <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-strike-10-billion-deal-dominion-energy-2020-7-1029368062">struck a $10 billion deal</a> to buy Dominion Energy's natural-gas assets last summer, and has <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-energy-investment-plan-texas-power-crisis-2021-3-1030249844">proposed an $8 billion plan</a> to build reserve power plants in Texas to prevent another power crisis.17. Does he have any international partnerships in the works? Buffett invested in <a href="https://markets.businessinsider.com/news/stocks/why-warren-buffett-berkshire-hathaway-7-billion-5-japanese-stocks-2020-9-1029555556">five Japanese trading companies</a> last year, and cited potential tie-ups as one reason for his interest.18. Why did he decide Whole Foods wasn't a good fit for Berkshire? Buffett <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-declined-buy-whole-foods-john-mackey-2020-10-1029647692">turned down the chance</a> to buy the premium grocer in 2017, its CEO revealed last year.

Warren Buffett will discuss stocks, deals, and the pandemic at Berkshire Hathaway's annual meeting on Saturday. Here are 18 questions he might answer.

Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to <a href="http://e.businessinsider.com/join/ci/finance-insider-social-first&amp;hash=36afac95fa844948a9f363295d512fca">get the best of Business Insider delivered direct to your inbox.</a>Ray Dalio, who predicted the financial crisis, outlines his scenario for the next recessionRay Dalio literally wrote <a href="https://www.principles.com/" target="_blank" rel="noopener">the book</a> on financial crises. <a href="https://www.businessinsider.com/ray-dalio-bridgewater-associates-next-recession-scenario-great-depression-parallels-2018-9">So when he has something to say on the future of the market, investors of all shapes and sizes should listen.</a>After all, it was Dalio who repeatedly cried foul on the mounting credit collapse more than a decade ago that triggered the worst economic meltdown in modern history - even if his cries fell mostly on deaf ears.Dalio - the founder and cochief investment officer of Bridgewater Associates - recently <a href="https://www.businessinsider.com/ray-dalio-bridgewater-debt-crisis-downturn-coming-about-two-years-2018-9" target="_blank" rel="noopener">sat down with Business Insider CEO Henry Blodget</a> to discuss his new book, which breaks down the anatomy of credit crises throughout history.JPMorgan says Trump's trade war is 'dimming the prospects for large scale M&amp;A'Rising geopolitical tensions and the escalating trade war between the US and China are putting management teams off big deals, according to a senior JPMorgan banker."Anything that points to uncertainty and a lack of confidence is not good for M&amp;A," Hernan Cristerna, JPMorgan's Global Co-head of M&amp;A, <a href="https://www.businessinsider.com/jpmorgan-says-trumps-trade-war-is-dimming-the-prospects-for-large-scale-ma-2018-9">told Business Insider, referring to US President Donald Trump's ongoing tit-for-tat with China on trade tariffs.</a>Global M&amp;A in the first half of the year reached its highest levels since 2007, <a href="https://www.dealogic.com/insight/h1-2018-ma-highlights/">according to Dealogic</a>, with over 17,500 deals worth almost $2.5 trillion announced. However, a report from Mergermarket in July showed a marked slowdown in cross-border M&amp;A. There were just <a href="https://www.cnbc.com/2018/07/02/trade-and-politics-hit-cross-border-megadeals.html">2,834 cross-border deals in the first half of the year, compared with 3,346 last year.</a>A tiny firm led by rockstar banker Michael Klein may make a killing on the $18.3 billion gold mergerA tiny and secretive boutique investment bank founded by star dealmaker and former Citigroup executive Michael Klein will split tens of millions of dollars in advisory fees <a href="https://www.businessinsider.com/r-canadas-barrick-gold-to-buy-randgold-resources-in-183-billion-deal-2018-9?r=UK&amp;IR=T">in an $18.3 billion gold merger announced on Monday.</a>M. Klein &amp; Co. <a href="https://www.businessinsider.com/m-klein-and-co-advises-barrick-gold-on-merger-2018-9">will split as much as $35 million in fees with Morgan Stanley</a> for advising Barrick Gold Corporation on its merger with UK-rival Randgold Resources Ltd., according to estimates from consulting firm Freeman &amp; Co.Randgold's advisors, Barclays and CIBC, might earn as much as $45 million, Freeman said.This is not the first time Klein's firm has provided advice to the Canadian gold miner. In 2015, M. Klein &amp; Co. <a href="https://uk.reuters.com/article/us-klein-m-a/wall-street-rainmaker-michael-klein-no-longer-a-one-man-show-idUKKCN0UR24920160113">advised</a> Barrick on the sale of its 50% interest in a copper mine in Chile.Goldman Sachs is shaking up the way it selects members for one of the most elite clubs on Wall StreetGoldman Sachs<a href="https://www.businessinsider.com/goldman-sachs-changes-how-it-selects-partners-2018-9"> is making changes to how it selects its partners, </a>one of the most elite clubs on Wall Street, as incoming CEO David Solomon remakes the firm in his vision.This summer, as company leaders began to identify potential candidates, Solomon told them they should consider at least three characteristics: lean toward execs who hold revenue-producing roles, place people on the list only if they have a real shot of making the cut and ensure women execs get a fair shot at making the final list, according to people with knowledge of his guidance.Goldman selects partners every two years, a throwback to its history as a private partnership and an attempt to preserve a culture that officially ended when the bank went public in 1999. The rank of Goldman Sachs partner is still one of the most sought after titles on Wall Street, largely for the wealth it can bring. Those who get called up are given a raise, a sizable chunk of the bonus pool and investment opportunities not available to other employees.In markets news<ul><li><a href="https://www.businessinsider.com/goldman-sachs-13-trade-war-stock-pick-recommendations-2018-8">GOLDMAN SACHS: Buying these 17 stocks could help you crush the market as Trump's trade war heats up</a></li><li><a href="https://www.businessinsider.com/housing-market-existing-home-sales-have-peaked-bank-of-america-2018-9">BANK OF AMERICA: The most important segment of the housing market has peaked</a></li></ul> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/ray-dalio-bridgewater-debt-crisis-downturn-coming-about-two-years-2018-9">Ray Dalio says the economy looks like 1937 and a downturn is coming in about two years</a></h3> <div> </div> </div>

What you need to know on Wall Street today

Slumps in crude oil and metals are dragging down all the major indexes for commodities and mining corporations. 
Glencore is getting hit today, with the Swiss-based giant losing almost one-tenth of its stock value Wednesday morning. 
At 11.46 a.m. GMT (6.46 a.m. EST) Glencore was trading at 239.93p, down 10.77% from its previous close.
Glencore's stock price is now less than half of what it was in 2011, when the mining corporation was first listed with a valuation of about 530p per share. 
Here's what the collapse looks like:
<div class="KonaFilter image-container click-to-enlarge"><div class="image"><a title_source="Investing.com" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/54b662e4dd08958e298b45c3-960/glencore_2011-14.png"></a>Investing.com</div></div>
It's not just Glencore that's feeling the pain - all the leading international mining companies are suffering.
BHP Billiton at 11.20 a.m. GMT (6.20 a.m. EST) was trading at 1,264.75p, down 6.8% from its previous value.
Anglo American was at 1,039p, down 9.92%
Barrick Gold, the leading gold producer, was at $10.68, a fall of 5.74%, and gold is among the indexes which are falling the least.
Rio Tinto was trading at 2,761.25p, losing 5.44% and the best performer among these stocks.
And the outlook still isn't looking good. The <a href="http://uk.businessinsider.com/copper-drops-january-13-2015-1" target="_blank">price of copper got crushed by almost 6%</a> in overnight trading in New York, hitting a 4-year low. 
Today, copper is still on a negative path, falling a further 5.16%.
Meanwhile crude oil is <a href="http://www.businessinsider.com/crude-oil-price-january-12-2015-1" target="_blank">hitting news lows almost every day</a>. So far today Brent has been trading about $47 a barrel, after it repeatedly fell below $45 over the last few days. 
A chart from DoubleLine Capital's Jeff Gundlach's <a href="http://uk.businessinsider.com/jeffrey-gundlach-2015-outlook-2015-1">outlook for 2015 presentation</a> sums up the trend well. It shows the performance of different commodities' indexes in 2014, with all of them falling over the year.
<div class="KonaFilter image-container click-to-enlarge"><div class="image"><a title_source="Jeff Gundlach, DoubleLine Capital" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/54b662e4dd08958e298b45c4-960/jeff%20gundlach%20commodities.png"></a>Jeff Gundlach, DoubleLine Capital</div></div>

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