Fed kicking off its meeting today. For more on what investors are watching, sarah hunt is here from alpine woods capital. What could the fed due tomorrow that would most upset the markets . Give i think they did not a lot of detail about how they were going to make sure when it was time for them to change their inflation standpoint, when was too much over. If they narrow the window and say we are looking for a tiny bit of on the inflation side. I think they are expecting inflation to run hotter if they get there for a longer time. And if they do something to narrow that window, that would make people more nervous. Newsbut in terms of the flow, have we already had it . Central banks have been dominant this year. It seems to me as if politics is beginning to take over as the key narrative, in london with brexit, and weve got all kinds of trouble in the mediterranean, we have got tension with china, and of course we have the u. S. Election coming up. So does this narrative now takeover fr
Shes going to talk to us about the news briefing today, the San Franciscos Covid Response and the latest numbers and give it to you right now. As of today, San Francisco has 7,433 cases. The total number of deaths, 91. Good news and real positive progression in the last 14 days is that the number of new cases per day, that is down. About a couple months ago, we were seeing about 200 new cases per day. As of yesterday, and the day before, the day before that, around 70 new cases per day. Given these positive developments, she is allowing more things to reopen now as you know, just this week, San Francisco reopened gyms, salons, tattoo parlors but at a limited capacity, talking about only 10 right now. People being close to each other, to reduce the density. That is something that a lot of businesses say is very hard to maintain, to make money on and survive, if you will. She is actually signing in now to join us. Well ask her about even though test Positivity Rate is down and again, goo
Report has been right for the past 10 years he dumped many of his banking shares and went long gold miner derek the biggest gold miner in the world so max what do you think about this sea change in his portfolio right well it was obvious that he would have to get into gold gold mining gold bullion at some point he had too much cash he was underperforming the stock market for 15 years he had made an enormous mistake in airlines again for the 2nd time in his career took a huge loss. And you never understood Technology Got in very late and hes got a problem now with all the money that he helped bring into existence by having the government bail him out perpetually not not not not in 2008 was a huge bailout of Warren Buffett and they had a print trillions of dollars he used to base the value of this figure of money the u. S. Dollar and the only protection now we have as a way to preserve wealth is to get into gold so this is the 1st foray into gold and dissipate that within 2 years 20 to 3
Dissipate that within 2 years 20 to 30 percent of the berkshire portfolio will be gold or exposed to gold buffett so burning 90 years you know 90 year birthday you know if you spot a Spring Chicken anymore think charlie monger is a few years old or so theyve got him out think about preservation of capital they may have tons of mistakes now they decide to salvage what they can of course one thing you can point to this and say is that this is part of perhaps is dispute with the fed because remember he did want to bail out the airlines i in a way that would give him a good deal and a bigger percentage of the big 4 airlines in america but who outbid him that was the u. S. Federal reserve they gave no Strings Attached to their free money to the airlines which is basically never going to have to be paid back so of course Warren Buffett then dumped his airline shares and then down to banking shares in the 2nd quarter and while he was buying gold im buying back at half a 1000000000. 00 with th
In the depths. Or inmate in the shallowness. Welcome back there are few industries in the world harder hit by the coronavirus than the travel and Tourism Sector without question 2020 will go down as one of the worst years ever for the industry but in reality were only in august and still have a long way to go already the effects are being felt in fact the Hotel Industry is warning that as a whole they are facing an absolute Economic Disaster and a desperate plea to congress submitted this week the industry claims that nearly 25 percent of all hotels in the United States are at risk of foreclosure simply put those hotels have loans that are at least 30 days delinquent or longer at the end of 29000. 00 the same number was 1. 9 percent of hotels and this is just the beginning so joining us now to discuss is boom bust cohost investigative journalist bence want and travel expert from money we have dot com very choice thank you both for joining us today ben i want to start with you can you g