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ecommends-export-choke-174125535.html%22%20target=%22_blank%22%3EU.S.%20panel%20recommends%20export%20'choke%20points'%20to%20prevent%20Chinese%20dominance%20in%20semiconductors%3C/a%3E%3C/h4%3E%3Cp%3EA%20U.S.%20national%20security%20commission%20on%20Monday%20recommended%20Congress%20tighten%20up%20%22choke%20points%22%20on%20chipmaking%20technology%20to%20prevent%20China%20from%20overtaking%20the%20United%20States%20in%20semiconductors%20in%20the%20coming%20years.%20%20The%20National%20Security%20Commission%20on%20Artificial%20Intelligence%20(NSCAI),%20led%20by%20former%20Google%20Chairman%20Eric%20Schmidt,%20recommended%20clamping%20down%20on%20China's%20ability%20to%20procure%20the%20manufacturing%20equipment%20needed%20to%20make%20advanced%20computing%20chips.%20%20%22China%20is%20making%20an%20aggressive%20push%20to%20promote%20authoritarianism%20around%20the%20world,%22%20an%20NSCAI%20official%20told%20Reuters.%3C/p%3E%3C/div%3E%3C/div%3E%3Cdiv%3E%3Cdiv%3E%3Clabel%3E13h%20ago%3C/label%3E%3C/div%3E%3C/div%3E%3C/li%3E%3Cli%20id=%22gemini-item-36146102089-1614667697084%22%3E%3Cdiv%3E%3Cimg%20src=%22https://s.yimg.com/cv/apiv2/default/20190501/placeholder.gif%22%3E%3C/div%3E%3Cdiv%3E%3Ch4%3E%3Cb%3EAd%3C/b%3E%3Ca%20href=%22https://beap.gemini.yahoo.com/mbclk?bv=1.0.0%26amp%3Bes=BVAN350GIS.LTmziTkcnL.UD_hsJwmGfTXw21ICbdYu_cPsc17EF9WUY5XDIr3rLRdB_Ld5ARTzlM_0RO2caSr1PT6CY4lWMgID_MGGrGhdQK5QUmlPRFyPqmwPN2bp1WN2I2g3734mBX.2uwJBsrSW_O5mSAqzZowEaSMClDd4QJCOr0P95Hd0UgC_OonJHvTyBISOUH6GZkMlzZK2S.YvLNSQs0gC8zcWqb.Cu87QoaVD5G0lJq63k8CVBOQWiHycG37OO0acmJlwy.8oPetxpCHmiYIhlgHHYDD1WB3Nv0ZwIalA1UPcIGd.luZznzyxSdj3ZAjgav_LxkLxVNfpVDN4odaQo7kferu.qPbycw8haJdrw8KaajzruDzUMPMcaXp75wg.M1f8bU1XVH2RHAsTCbQ1BT_eRXVNzMi06eiQOii8iwXImv3BVRlpvJ7c0ladPAsRjq.TAD9Qz.Appnn4IQXR97CnluPRhTrjcgizmEjY.9yBslwpwfl_4qD.CVhO54.GvHvzOqxRaLMGmhkK8OawJnb9y272lodemnB9F%22%20target=%22_blank%22%3E%E8%85%B0%E6%A4%8E%E7%9B%B4%E8%B5%B7%E4%BE%86%E4%BA%86%EF%BC%8C%E9%AA%A8%E5%88%BA%E4%B9%9F%E8%9E%8D%E4%BA%86%EF%BC%8C%E8%BA%AB%E5%AD%90%E9%AA%A8%E5%88%A9%E7%B4%A2%E5%A4%9A%E4%BA%86%E3%80%82%3C/a%3E%3C/h4%3E%3Cp%3E%E8%85%B0%E9%83%A8%E4%B8%8D%E9%81%A9%E9%A6%96%E9%81%B8%E3%80%82%3C/p%3E%3C/div%3E%3C/li%3E%3Cli%3E%3Cdiv%3E%3Cdiv%3E%3Cimg%20src=%22https://s.yimg.com/cv/apiv2/default/20190501/placeholder.gif%22%3E%3C/div%3E%3Cdiv%3E%3Cdiv%3EBloomberg%3C/div%3E%3Ch4%3E%3Ca%20href=%22https://finance.yahoo.com/news/u-freeze-hammers-europe-bottom-003000662.html%22%20target=%22_blank%22%3EU.S.%20Freeze%20Hammers%20Europe%E2%80%99s%20Bottom-of-the-Barrel%20Oil%20Exports%3C/a%3E%3C/h4%3E%3Cp%3E(Bloomberg)%20--%20The%20freeze-driven%20shuttering%20of%20core%20sections%20of%20the%20U.S.%20refining%20system%20isn%E2%80%99t%20all%20good%20news%20for%20rival%20plants%20in%20Europe.%20Down%20at%20the%20bottom%20of%20the%20barrel,%20losses%20are%20deepening.While%20U.S.%20shutdowns%20mean%20less%20competition%20for%20European%20refiners%20in%20supplying%20gasoline%20and%20diesel%20on%20both%20sides%20of%20the%20Atlantic,%20they%20also%20remove%20an%20important%20export%20market%20for%20the%20remnants%20of%20the%20refining%20process%20--%20products%20known%20as%20fuel%20oil.With%20much%20of%20the%20U.S.%20Gulf%20Coast%20in%20recovery%20mode%20after%20February%E2%80%99s%20extreme%20weather,%20many%20of%20those%20barrels%20need%20a%20new%20home.%20That%20is%20acting%20as%20a%20drag%20on%20margins%20for%20those%20refineries%20that%20churn%20out%20relatively%20large%20amounts%20of%20higher-sulfur%20fuel%20oil.%E2%80%9CThe%20U.S.%20is%20suddenly%20not%20taking%20so%20many%20cargoes%20a%20month%20transatlantic,%E2%80%9D%20said%20Hedi%20Grati,%20a%20director%20at%20IHS%20Markit.%20%E2%80%9CIt%20needs%20to%20find%20another%20outlet.%E2%80%9DGulf%20Coast%20refineries%20regularly%20import%20bottom-of-the-barrel%20feedstocks%20from%20Europe%20and%20Russia,%20turning%20them%20into%20higher-value%20fuels%20like%20diesel%20and%20gasoline.%20But%20with%20so%20many%20outages%20on%20the%20Gulf%20Coast,%20there%E2%80%99s%20little%20appetite%20from%20that%20region%20for%20such%20cargoes%20at%20the%20moment.As%20a%20result,%20exports%20toward%20the%20U.S.%20from%20Europe%20and%20Russia%20of%20dirty%20petroleum%20product%20--%20including%20various%20grades%20of%20mostly%20high-sulfur%20fuel%20oil%20and%20vacuum%20gasoil%20--%20have%20plunged.%20They%20sank%20by%20136,000%20barrels%20a%20day,%20or%20about%2040%25,%20during%20the%20period%20February%201-23%20compared%20with%20January,%20and%20by%20roughly%2050%25%20year-on-year,%20according%20to%20tanker%20analytics%20firm%20Kpler.%20The%20figures%20don%E2%80%99t%20include%20dirty%20shipments%20known%20to%20be%20low-sulfur.Lack%20of%20DemandThat%E2%80%99s%20led%20to%20diminished%20demand%20for%20European%20barrels,%20which%20is%20helping%20to%20push%20down%20the%20value%20of%20high-sulfur%20fuel%20oil%20relative%20to%20crude%20oil,%20known%20as%20the%20crack%20spread.%20In%20northwest%20Europe,%20the%20measure%20recently%20fell%20to%20its%20lowest%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Summary | 4 Annotations
Investing icon Charlie Munger, Berkshire Hathaway's (BRK-B, BRK-A) vice-chairman and Warren Buffett's long-time business partner, says his type of value investing will “never go out of style.”
2021/02/25 13:11
“Because value investing — the way I conceive it — is always wanting to get more value than you pay for when you buy a stock, and that approach will never go out of style,” Munger said on Wednesday at the Annual Meeting of Shareholders of the Daily Journal Corporation (DJCO), where he serves as chairman of the board.
2021/02/25 13:11
"I think it's much easier to find five than it is to find 100," the 97-year-old investor argued. "I think the people who argue for all this diversification, by the way, I call it 'diworsification,' which I copied from somebody. And I’m way more comfortable owning two or three stocks which I think I know something about and where I think I have an advantage.”
2021/02/25 13:11
Story continues“And the result of holding those two positions, we have a way lower cost than anybody else and we make more money than practically everybody else," he said. "So you now know what I do in charitable institutions. By the way, that's not the normal outcome in America. The wealth management industry has a crisis on its hands. They really need the world to stay the way it is, and that isn't necessarily right for its customers.”
2021/02/25 13:11