Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A, BRK.B) submitted its latest 13-F filing on February 17, 2026, revealing some interesting changes in the portfolio. The most newsworthy one was undoubtedly the staggering 77% reduction in the Amazon (NASDAQ: AMZN) stake, as the company has sold 7.7 million shares in the e-commerce leader, reportedly valued at nearly $1.7 billion.Berkshire first entered Amazon in 2019, and after seven years, the paradigm appears to be shifting again, with ‘The Oracle of Omaha’ ...

Economic Trends - China's consumer-price index has remained stagnant since mid-2022, with GDP growth declining from 8.6% at the beginning of the century to 5% currently, largely due to a shrinking population from the one-child policy [1] - Major economies, except for the U.S. and India, are experiencing population declines, leading to systemic downward pressure on currencies and economies, while gold prices are expected to rise as a hedge against this economic downturn [3][4] Cryptocurrency Market - Cryptocurrencies, once seen as a hedge against economic decline, are losing credibility among institutional investors due to significant bid/ask spread issues, prompting a shift towards gold as a safer investment [2] Central Bank Policies - Central banks are primarily focused on combating inflation but lack effective tools to address deflation, which is becoming a pressing issue as population declines exert downward pressure on prices [5] - The Bank of England may have to implement quantitative easing and lower interest rates in response to Britain's economic challenges, which could further devalue the British pound [13] Global Currency Dynamics - The Japanese yen is under pressure due to a declining birth rate and high government debt, which is complicating the Bank of Japan's efforts to manage the economy through quantitative easing [9] - The euro is facing challenges from internal EU dynamics and rising anti-EU sentiments, which could undermine its value amid poor GDP growth and population decline [16] U.S. Economic Resilience - The U.S. benefits from a younger demographic and a competitive state system that fosters economic growth, contrasting with the stagnation seen in other major economies [17][18] - Despite a stable population growth rate, the U.S. fertility rate has been below 2.0 since 2010, indicating potential future challenges [19] Investment Outlook - Investors are increasingly turning to gold and the U.S. dollar as hedges against currency declines and deflationary pressures, with gold prices projected to reach $10,000 per ounce by the end of the decade [20]

When debts become very large and there is an economic downturn and the empire can no longer borrow the money necessary to repay its debts, the financial bubble bursts. This creates great domestic hardships and forces the country to choose between defaulting on its debts or printing a lot of new money. It always chooses to print a lot of new money at first gradually and eventually massively that devalues the currency and raises inflation.For the Dutch, this was the financial crisis brought about by financial ...

Having shrugged off the previous two downturns of their short history, digital ads are likely to take a serious knock when the next one eventually hits https://t.co/944ri5SYLs ...

Financial Data and Key Metrics Changes - Global enterprise revenues for Q4 2025 were $1.302 billion, down 6% year-over-year on a reported basis and down 7% on an adjusted basis [4] - Net income per share for the quarter was $0.32, compared to $0.53 in Q4 2024 [5] - Cash flow from operations was $183 million, an 18% increase over Q4 2024 [6] - Return on invested capital was 10% in Q4 2025 [6] Business Line Data and Key Metrics Changes - Talent Solutions revenues were down 9% year-over-year on an adjusted basis, with U.S. revenues at $623 million and non-U.S. revenues at $200 million [7] - Protiviti's global revenues in Q4 were $479 million, with U.S. revenues down 6% and non-U.S. revenues up 9% year-over-year [8] - Gross margin for Talent Solutions was 46.7% in Q4 2025, compared to 46.4% in Q4 2024 [9] - Protiviti's adjusted gross margin was 22.8% for the quarter, down from 25.1% last year [10] Market Data and Key Metrics Changes - Contract Talent Solutions bill rates increased by 3.2% year-over-year, adjusted for revenue mix [8] - The number of billing days in Q4 2025 was 61.4, slightly down from 61.6 in Q4 2024 [7] - The unemployment rate remains low, with significant pent-up demand for skilled professionals [19] Company Strategy and Development Direction - The company aims to capitalize on emerging opportunities and support clients' talent and consulting needs through its industry-leading brand and unique business model [5] - Protiviti's pipeline remains strong across all major solution areas, with a focus on technology modernization and data optimization [23] - The company is exploring innovative pricing strategies in response to AI developments, considering outcome-based pricing models [66] Management's Comments on Operating Environment and Future Outlook - Management noted a return to sequential growth for the first time since early 2022, with a more conducive macro environment [18] - Concerns about a near-term economic downturn have moderated, with hiring plans holding steady among small businesses [19] - The company expects to return to positive year-over-year growth by Q3 2026, driven by improved client engagement and decision timelines [31] Other Important Information - The company distributed a cash dividend of $0.59 per share, totaling $59 million [6] - The tax rate for Q4 was 32%, up from 28% the previous year, due to non-deductible expenses [11] Q&A Session Summary Question: Insights on the top line and margin improvement - Management indicated that if current trends continue, positive year-over-year growth could be expected by Q3 2026 [31] - Steps for efficiency include retaining top producers and leveraging AI for better matching and prospect ranking [32] Question: Comments on the permanent placement market - Management believes the permanent placement market is stronger than it appears, with SMB clients facing challenges in hiring due to a lean workforce [33] Question: Labor uncertainty due to AI - Management acknowledged that uncertainty around AI may lead clients to prefer flexible workers, but current demand for full-time hires remains stable [37] Question: Protiviti's headcount and revenue growth - Management noted that Protiviti has hidden capacity due to underutilized full-time staff and contractors, allowing for potential revenue growth without significant headcount increases [42] Question: Pricing environment for Protiviti - The pricing environment remains competitive, with no significant changes expected, but there is potential for cost-of-living increases to be passed on to clients [91]

In America the number of part-time workers who would rather work full-time has risen. These are precisely the people likely to be hit first as the economy turns down https://t.co/APbZACucYu ...

to show you why retail isn't really here, right. To kind of explain like, hey, the reason social interest is at zero like it was back in 2019 is because Main Street's hurting. And in order for Main Street not to be hurting, we need to we need for them not to be so worried about the labor market. We need them to not be so worried about inflation.Um, we need lower rates. But the issue is that over a long enough period of time, the only way the politicians know to solve our issues is to print more money. So ye ...

A downturn would expose vulnerabilities in today’s economic and geopolitical landscape, by further weakening America’s hegemony, undermining government budgets and worsening protectionist instincts https://t.co/l5mD5206Uz ...

If a car is headed downhill, and swerves left, and then right, and then further left, and further to the right, it doesn't actually arrest the descent. However, all the swerving may make the car crash faster.The G7 is like that car. It's the descending world. https://t.co/nAN6ntxgPGRay Dalio (@RayDalio):History shows us that having too much debt during an economic downturn leads to a classic, self-reinforcing cycle where:1) The empire can no longer borrow the money to repay its debts2) It prints a lot of ne ...

Economic Cycles & Debt - Excessive debt coupled with economic downturns can lead to financial bubbles bursting, forcing countries to choose between defaulting or printing money [1] - Historically, financial crises have been triggered by financial excesses and the costs of wars, as seen with the Dutch, British, and the US [2] - Governments often resort to printing money to manage debt, which devalues the currency and raises inflation [1] Internal Conflict & Political Extremism - Economic hardship, declining living standards, and wealth inequality exacerbate internal conflicts among different groups [3] - Political extremism arises as populism of the left seeks wealth redistribution, while populism of the right aims to preserve wealth [3] - Rising taxes on the wealthy during turbulent times can lead to capital flight, reducing tax revenue and hollowing out the economy [4] Societal Instability & Leadership - Capital flight and turbulent conditions undermine productivity, shrinking the economic pie and intensifying conflicts [5] - Populist leaders emerge, promising order and control, challenging democracy and potentially leading to strong, authoritarian leadership [5]