What to watch today: ‘Sell in May, go away’ is not materializing on first trading day

SourceCNBC
SectorFinancial Markets
CountryMiddle east

Berkshire Hathaway’s (BRK.a) Charlie Munger, 97, inadvertently revealed who would succeed Warren Buffett as CEO. CNBC confirms it would be Vice Chairman Greg Abel. “If, heaven forbid, anything happened to Greg tonight then it would be [Vice Chairman Ajit Jain],” Buffett, 90, told CNBC’s Becky Quick after this weekend’s annual Berkshire shareholders meeting.Robinhood is promoting gambling-like behavior in the stock market, Buffett said at the Berkshire annual meeting.

Robinhood has “become a very significant part of the casino aspect, the casino group, that has joined into the stock market in the last year or year and a half,” Buffett said, adding he was unhappy, for example, to learn how much short-term option activity there was in Apple.Munger’s disdain for bitcoin has only intensified as the digital asset mounted a record run this year. “Of course I hate the bitcoin success,” he said during a Q&A session at Berkshire’s meeting. “I don’t welcome a currency that’s so useful to kidnappers and...read more...