March 10th, 2024
Estimated Reading Time: 4 minutes

Our Work

Investment Insights – Keith R. Schicker, CFA

  • No Crystal Ball Required: Protecting and building wealth isn’t about being right every time, all the time. [Investment Insights]

Primary Sources

  • Berkshire Hathaway 2023 Letter: Berkshire has more than three million shareholder accounts. I am charged with writing a letter every year that will be useful to this diverse and ever-changing group of owners, many of whom wish to learn more about their investment. [Berkshire Hathaway]
  • Elon Musk Sues OpenAI Over AI Threat: Elon Musk says in a Thursday lawsuit that Sam Altman and OpenAI have betrayed an agreement from the artificial intelligence research company’s founding to develop the technology for the benefit of humanity rather than profit. [Courthouse News]
  • AT&T Addressing the February 22 Outage: Thursday was a challenging day for our company. Our purpose is to connect people to greater possibility, and we fell short of what we typically do so well each and every day. [AT&T]


Financial Markets

  • Nvidia’s Stunning Ascent Has Also Made It a Giant Target: In the AI-driven bonanza, even the chip maker’s own customers are looking to move in on its business. [WSJ]
  • The Nvidia Chips Inside Powerful AI Supercomputers: Built to drive the graphics of videogames including ‘Call of Duty, ’ they now also power ChatGPT and other AI tools. [WSJ]

The chart above illustrates an anticipated influx of approximately 80 offerings in the Battery Electric Vehicle (BEV) SUV market over the next five years.

Financial Planning

  • You Think You’re Doing Fine in Life, Until You Hear a Friend Is Doing Better: We tend to measure our financial health based on our friends—and what they post on social media. [WSJ]
  • How Humble 529 Savings Plans Can Be a Tool for the Ultra-Wealthy, Too: With tuition and fees for private nonprofit higher education averaging more than US$38,000 a year, funding a child’s lifelong education has never been so daunting. [Barron’s]
  • Should You Consider Buying Your Childhood Home: It might be a sensitive subject to bring up, but a path to homeownership for adult children could also make financial sense for their parents. [NYT]

Tax Planning

  • What You Need to Know for the 2024 Tax Season: There are tax breaks for electric car purchases, SALT workarounds, benefits for retirees and a new system for eligible taxpayers to file their returns. [NYT]
  • The Core of the Tax Code Will Change, but We Don’t Know How: Important regulations expire at the end of next year, thwarting tax planning and creating a monumental fiscal challenge for Congress. [NYT]

Business Strategy

  • Booming Stock and Sky-High Pay: Nvidia Is Silicon Valley’s Hot Employer: Job searches for the AI firm are rising. ‘They’re like Facebook in 2014,’ says recruiter. [WSJ]
  • Is It Ever OK to Have an 8 a.m. Meeting: Employees want flexibility in their work-life schedules, while employers focus on the business needs. [WSJ]
  • The Skyrocketing Costs Driving Cheeseburger Prices Up—and Restaurant Owners Out: Escalating payroll costs and diners’ dwindling tolerance for higher checks are putting independent restaurants in a squeeze. [WSJ]

Life & Work

  • He Rescued 1.5 Million Yiddish Books. Now He Will Have Time to Read Some: Aaron Lansky spent a lifetime building the Yiddish Book Center, one of the country’s leading Jewish cultural institutions. He’s ready to hand over the reins. [NYT]
  • No More No. 2 Pencils: The SAT Goes Fully Digital: The new format cuts nearly an hour out of the exam and has shorter reading passages. [NYT]
  • ‘Curb’ Fans Are Pretty, Pretty Good at Unleashing Their Inner Larry David: Devotees of the show persist in mimicking Larry David’s eccentricities in everyday life, such as avoiding ‘stop and chats,’ venting about raisins and calling out noisy people at restaurants. [WSJ]
  • Miami Beach Has a Message for Rowdy Spring Breakers: Don’t Come Here: An ad campaign by the popular spring break destination says visitors can expect curfews, beach closures and arrests for drug possession. [WSJ]

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