Core Insights - Charlie Munger considered his investment in Alibaba one of the worst mistakes of his career, but recent market trends suggest that Alibaba's stock may be recovering [1][6][10] Company Performance - Alibaba's stock has increased by 56% in 2023 and 74% since Munger's death in November 2023, reaching its highest levels since November 2021, although it remains less than half of its peak in October 2020 [1] - Munger initially bought 165,000 American depositary shares (ADS) of Alibaba in Q1 2021, increasing the stake to about 602,000 shares worth $72 million by the end of 2021, which represented 28% of Daily Journal's US stock portfolio [3] Investment Strategy - Munger reduced Daily Journal's holding in Alibaba to 300,000 shares in Q2 2021, maintaining that position until shortly before his death [4] - In Q1 2024, Daily Journal further cut its stake to 195,000 shares valued at $16.5 million [4] Market Context - Munger criticized Alibaba co-founder Jack Ma for his public comments about the Chinese government, which led to regulatory actions against Alibaba and its affiliate Ant Group [5][6] - Despite Munger's negative outlook, Alibaba's recent performance indicates it may not be as disastrous as he feared, and it could potentially turn into a successful investment [10]

Core Insights - Reddit is experiencing rapid growth but faces challenges in distinguishing itself from Google, leading to a "sell" rating from Redburn Atlantic analysts [1][2] - The growth in daily active users is primarily driven by logged-out users, which are less valuable to Reddit compared to logged-in users [2][3] - Analysts express concerns that the increase in traffic may be reaching a ceiling, indicating potential volatility in user growth due to reliance on Google [3][4] User Growth Dynamics - Reddit's logged-in daily active users increased by 27% last year, while logged-out users surged by 70% [3] - The majority of logged-out users arrive via Google Search, often seeking quick answers rather than engaging deeply with the platform [3][4] - Analysts suggest that this trend could lead to a disproportionate growth of logged-out users, which may not translate into sustainable value for Reddit [2][3] Market Reactions and Stock Performance - Reddit's stock has shown volatility, dropping over 15% after comments regarding Google's algorithm changes affected site traffic [4][5] - A brief stock surge occurred following a retracted article about a supposed partnership with Google, highlighting the sensitivity of Reddit's stock to news and market speculation [5][6] - User discussions on Reddit reflect concerns about the platform's dependency on Google for traffic, with some users noting that Google search results increasingly feature Reddit content [6]

Intel's new CEO said the company had fallen short of expectations recently and asked for customer feedback in his first public appearance since taking over the chip giant. "We had been too slow to adapt and to meet your needs," Lip-Bu Tan said about customers on Monday at an Intel event in Las Vegas. "You deserve better, and we need to improve, and we will. Please be brutally honest with us." The keynote was Tan's first since taking over as CEO on March 18. Tan walked the audience through his upbringing in ...

You're still not paying enough attention to YouTube. I know, I know: Some of you know that YouTube is not just a big force in media, but one of the biggest. But most folks — even people who make their living in media — don't fully get how big YouTube is. Even though we keep pointing it out, over and over. If you wanted to, you could quibble with Nathanson's groupings. You could argue that Google itself is actually the biggest media company in the world since it generates close to $350 billion in annual reve ...

Core Insights - BlackRock has evolved from a traditional asset manager to a leader in private markets, with a focus on a $68 billion investment boom in privately funded infrastructure and private lending [1][4][6] - The firm has made significant acquisitions, spending $28 billion last year to enhance its private market capabilities [2] - BlackRock's public market operations, including its iShares ETF line, have fundamentally changed market dynamics and investor behavior [3][5] Company Transformation - Larry Fink emphasized that BlackRock is no longer just a traditional asset manager, highlighting the transformation of the company into a $11.6 trillion entity [1] - The firm aims to address the divide between public and private markets, similar to its previous efforts in bridging active and passive investing [8] Market Trends - The traditional 60-40 portfolio is expected to shift to a 50-30-20 allocation, incorporating more private assets like real estate and infrastructure [6] - Fink noted that private market investments have been largely inaccessible to average investors due to high minimums and restrictions [7] Future Outlook - Fink expressed optimism about BlackRock's position entering 2025, viewing it as a pivotal moment for the financial landscape [10] - The company is poised to leverage its experience in solving market challenges to create opportunities in the private market space [8]

Group 1: Stock Transactions by Congress Members - Democratic Rep. Julie Johnson sold her Tesla stock, valued between $16,000 and $65,000, based on a decision made by an independent financial advisor without her input [1] - Rep. Vicente Gonzalez purchased at least $65,000 worth of Tesla stock, while Rep. Gil Cisneros bought between $1,000 and $15,000 [3] - Rep. Josh Gottheimer engaged in multiple transactions involving Tesla stock in January and February, with trades managed by a third party [5] Group 2: Criticism and Reactions to Elon Musk - Some Democrats have publicly criticized Elon Musk, with Rep. Cisneros emphasizing that he has not abused his position for personal gain [4] - Sen. Mark Kelly sold his Tesla for a Chevy Tahoe, expressing negative sentiments about Musk, while Sen. Adam Schiff indicated he would be willing to sell his Tesla [6] - The market for used Teslas has seen a 33% increase this year, suggesting a trend of individuals looking to sell their vehicles, likely influenced by Musk's behavior [6]

Core Insights - Two senior Meta executives, Dan Neary and Kate Hamill, are leaving the company after over a decade in leadership roles, with Neary's departure marking the end of an era for Meta's Asia-Pacific operations [1][3][6] - Neary oversaw Meta's expansion in key international markets, contributing to the growth of over a billion accounts across its platforms in Asia [2][3] - Hamill will join Pinterest as vice president of enterprise sales for North America, having played a significant role in strengthening Meta's advertising relationships [4][5] Group 1: Dan Neary's Departure - Neary joined Meta in 2013 and announced his departure in a LinkedIn post, reflecting on a "12-year run" that significantly contributed to the company's growth in the Asia-Pacific region [1][2] - He oversaw Meta's expansion in major markets such as Australia, Southeast Asia, and Greater China, and expressed gratitude for the journey from a small office in Singapore to a leading position in the region [2][3] - Asia is now Meta's largest user base, with over a billion accounts across Facebook, Instagram, and WhatsApp, making it a crucial driver of business messaging and performance ad revenue [3] Group 2: Kate Hamill's Departure - Hamill, who spent 13 years at Meta, will start her new role at Pinterest on April 7, overseeing revenue and sales teams in the US and Canada [4] - She was instrumental in managing Meta's advertising relationships across various sectors and contributed to the development of AI-driven advertising tools [5] - Her departure is significant as she played a key role in enhancing Meta's connections with major US advertisers during a period of rapid growth in its advertising business [5]

Group 1 - President Trump's new 25% tariffs on imported passenger vehicles have negatively impacted shares of Ford, GM, and Stellantis, while benefiting Tesla, whose stock rose by 4% [1] - The tariffs could cost the auto industry up to $82 billion and reduce earnings for Detroit's Big Three by as much as 60%, but Tesla's domestic production allows it to avoid these costs [2] - Tesla's Model Y SUV is expected to benefit significantly, as nearly 50% of its competitors may face increased input costs of $4,000 to $5,000 per vehicle due to the tariffs [3][4] Group 2 - The scope of the tariffs has expanded to include imports from all countries, affecting vehicles from South Korea and Italy, in addition to existing tariffs on non-US-produced vehicles [4] - Tesla is currently facing declining sales and scrutiny over CEO Elon Musk's involvement with the Trump Administration, despite Trump's support for the brand [5]

Core Insights - Boeing is experiencing a positive turnaround, securing significant defense contracts and new aircraft orders, which may enhance investor and customer confidence [1][8][9] - The company has seen a stock price increase of approximately 16% over the past six months, indicating a recovery from earlier lows despite broader market challenges [2] - Analysts project a future price target of $196 for Boeing shares, suggesting optimism about the company's prospects [3] Aircraft Orders and Production - Korean Air has finalized an order for 20 Boeing 777X planes, following similar orders from Japan Airlines and Malaysia Airlines for 17 and up to 60 new 737 Max aircraft, respectively [4] - The 777X program is significantly delayed, with its launch now expected in 2026, while the production of the 737 Max is currently capped at 38 units per month [4][5] - Boeing's backlog exceeds 6,000 aircraft, reflecting customer confidence despite previous delivery slowdowns [5] Leadership and Operational Improvements - CEO Kelly Ortberg aims to increase the 737 Max production rate to 42 units per month by year-end, contingent on meeting quality and safety standards [6] - The company plans to close the "shadow factory" for quality fixes, which is expected to enhance operational efficiency [6] - United Airlines' CFO expressed confidence in Boeing's delivery schedule, highlighting improvements in reliability as a supplier [7] Defense Contracts and Future Outlook - Boeing secured a $20 billion contract for the F-47 fighter jet, which is expected to bolster its defense business and improve employee morale [8][10] - The contract is seen as a significant boost for Boeing, especially after challenges faced in other defense programs [9][10] - Analysts believe that the new defense program will help attract and retain engineering talent, aiding in the company's cultural recovery [10][11]

Canada has frozen a $43 million rebate payment to Tesla and barred Elon Musk's company from similar national schemes. Transport Minister Chrystia Freeland directed Canada's Transport Department to halt all Tesla rebate payments while it examined each claim individually."No payments will be made until we are confident that the claims are valid," she told the Toronto Star on Tuesday. The move follows a surge in Tesla rebate claims, which spiked from 300 to about 5,800 a day before the scheme ended in January, ...