Ok, we all know it’s an off day,I can’t say that enough. Let's write it all up.
This time, I’m taking you to Wall Street. You know, I have devoted a lot of time studying and trying to understand the markets. I mean a lot of time for years. I’ve learned plenty, for sure. But lately, I’ve started scaling back from “the Street” for very personal reasons.
Still, every now and then, a piece of news crosses my feed that demands my attention. Today is one of those days.
It just came out that Warren Buffett, the Oracle of Omaha himself, through his cash-rich company, Berkshire Hathaway, has taken a stake in one of the most beaten-up stocks in recent times: UnitedHealth Group.
Remember, this is the company whose subsidiary lost its CEO by Luigi Mangione, in broad daylight to gunfire in Midtown Manhattan. I wrote a lot about that tragic event when it happened. The whole country, and the world, was shocked.
After that, the stock plunged over 50% and was worsened by a federal investigation into alleged Medicare and Medicaid misappropriations.
Now, Warren is stepping in. And make no mistake: that stake is as close to a bailout as it gets. He’s giving the company his blessing, and that alone will attract more attention and confidence. The stock gapped up over 8% after the news. That is a tremendous piece of news, pals.
If you ask me, in my view, the struggle is over for the stock. See the photo above.
Stay safe, and make good moves.
-Pal Ronnie-
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