Aaron Back
@AaronBack
Global Editor of The Wall Street Journal's Heard on the Street column. Previously with @wsj in Beijing and Hong Kong.
Heard on the Street: There are some calls that Warren Buffett can get away with that others may not so easily | Like using mark-to-Buffett accounting on Berkshire’s stakes in $KHC and $OXY. My latest @WSJ @WSJheard $BRK $BRK.A $BRK.B wsj.com/finance/invest…
I can’t recall a time when the stock market appeared so complacent despite obvious risks
How is this coming along? "Elon Musk says if done right, X would become half of the global financial system." binance.com/en/square/post…
Squeezed between rising healthcare costs and government spending cuts, shares in major health insurers have been mostly negative over the last 4 years. Heard's @david_wainer explains why Wall Street is giving up on the sector: wsj.com/health/healthc…
Still true
Jurassic Park movies, ranked: 1) Jurassic Park 2) Who cares
I'm honestly not sure if I have ever enjoyed a Superman movie. I'm young enough that the 1970s originals already seemed dated by the time I saw them.
I believe this website was supposed to have replaced the global financial system or some such by now?
Gemini has 350 million monthly users, nothing to sneeze at. Waymo is miles ahead of Tesla in self-driving cars. With so much hidden value, Alphabet could be a candidate for a breakup if the synergies between its businesses weren't so obvious. Instead it's a screaming buy.
The best value play in AI: Google Alphabet is trading at just 18 times forward earnigns, compared to over 30 for Microsoft and Amazon wsj.com/tech/ai/google…
"When informed about the then Prince Charles’s reported sympathy for the unemployed he noted that it might be because the prince was himself unemployed."
“His conservatism was that of Essex, not Eton, and he helped persuade millions of Sun-reading voters that Thatcher would advance their interests better than any trade union leader.” thetimes.com/uk/obituaries/…
Instead of virtue signaling through your investments, buy and index fund and donate the savings
So-called MAGA ETFs can often end up like ESG funds, offering exposure nearly the same as an index fund at a much higher cost, says @GunjanJS wsj.com/finance/invest…
Heard on the Street: Some anti-woke funds can mirror the mistakes of socially conscious investments that were wildly popular on the left on.wsj.com/4eB1lrU
So the tariff on an imported car from South Korea or Japan will be 50% starting Aug. 1, correct?
Really glad they took to the time to refine the Liberation Day tariffs by rounding them to the nearest 5
Liberation Day 2: Multiples of Five
Integers divisible by five: Trump announces tariff rates set to take effect on Aug 1 that are close to the April 2 rates (suspended on April 9) Laos: 40% (previously 48%) Myanmar: 40% (prev 44%) South Africa: 30% (unchanged) Malaysia: 25% (prev 24%) Kazakhstan: 25% (prev 27%)
Integers divisible by five: Trump announces tariff rates set to take effect on Aug 1 that are close to the April 2 rates (suspended on April 9) Laos: 40% (previously 48%) Myanmar: 40% (prev 44%) South Africa: 30% (unchanged) Malaysia: 25% (prev 24%) Kazakhstan: 25% (prev 27%)
Trump: "These tariffs may be modified, upward or downward, depending on our relationship with your country."
Western companies are struggling to secure approvals for rare-earth imports from Chinese authorities, despite the U.S.-China deal, reports @JonathanEmont wsj.com/world/china/ch…
Heard on the Street: There's waymo value in Google's self-driving tech than Tesla's wsj.com/business/autos…
Israel’s stock market, which trades Sunday to Thursday, rose for the sixth straight session on Sunday. It’s done better than the S&P 500 since the attacks on Oct. 7, 2023 wsj.com/world/middle-e…
The Senate reconciliation bill, with its harsh phase out of solar and wind, and continued support for geothermal, nuclear, and batteries, has Chris Wright’s intellectual fingerprints all over it
More than 90% of Iran’s oil exports now go to China, at a discount. If that is cut off, China will pay the price. wsj.com/business/energ…