During a recent appearance on comedian Kevin Hart’s show Hart to Heart, Cuban shared how Uber cofounder Travis Kalanick approached him in 2009 with an offer to get a piece of the transportation app. The two knew each other since Cuban previously invested in Kalanick’s peer-to-peer file-sharing company Red Swoosh and saved it from bankruptcy.

 According to Cuban, he was interested in backing up Kalanick once again but didn’t think his valuation of $10 million was appropriate. Cuban offered an investment at a $5 million valuation but never heard back from Kalanick again.

“He got somebody else,” Cuban shared. “Whoops.”

Hart also had the opportunity to invest in Uber but also decided to pass on it. He was asked to put in $50,000 to $75,000 in the company’s early days, missing out on hundreds of millions of dollars.

On the other hand, Cuban shared that Kalanick asked for $250,000 from him. Considering that Uber is now worth around $90 billion, Cuban missed out on more than $2 billion.

The post Mark Cuban Shares the Story of How He Passed on the Opportunity to Invest in Uber appeared first on theprimarymarket.com.

Speaking with Forbes in a recent interview, Koch said that he prefers to focus on running his beer business than being a savvy stock trader. However, he still wants to “diversify his risks” and “protect his money.”

“I don’t believe that I have any chance in hell of outsmarting the professional investors,” he shared.

According to Koch, he trusts his wife’s assistant to take care of his stock portfolio. This wouldn’t be unusual if it wasn’t for the fact that the family initially hired the assistant as a babysitter two decades ago.

The assistant goes over the stocks in the portfolio every two weeks and moves on from losing positions. She then picks out one stock from S&P 500 and Russell 2000 to invest in at random.

“I don’t want to worry about it,” he adds. “It’s boring. It’s annoying.”

Koch explained that his strategy generally worked out well for him and that it outperformed a significant number of portfolios that see active management. But if you think about emulating his technique, you might want to think again. He is a billionaire, and he can handle it if he runs out of luck.

The post Boston Beer Company Co-Founder Jim Koch Says He Buys Stock Randomly Every 2 Weeks appeared first on theprimarymarket.com.

The NFIB’s Small Business Optimism Index rose by 1.6 points in June to 91, marking its highest month-over-month rise since August 2022. Optimism regarding near-term economic prospects grew to its highest level since February 2022, with the NFIB’s general business conditions outlook index climbing 10 points to negative 40. Small businesses have exhibited a negative view of near-term prospects since December 2020.

Sales expectations among small businesses rose in June as the net percentage of business owners expecting weaker sales in the next three months fell compared to May. The overall sales outlook is now at its highest level in four months.

In June’s report, 24% of small business owners listed inflation as their biggest challenge, down from 25% in May. This is also a 13-point decline from last July’s peak.

“Inflation and labor shortages continue to be great challenges for small businesses,” NFIB Chief Economist Bill Dunkelberg acknowledged. “Owners are still raising selling prices at an inflationary level to try to pass on higher inventory, labor, and energy costs.”

The post Small Business Confidence Hits Seven-Month High, NFIB Reports appeared first on theprimarymarket.com.

Reynolds announced on Monday that he made an investment in payments technology company Nuvei Corporation. The Canadian fintech firm provides businesses with pay-in and payout options that allow them to send or receive payments from more than 500 payment methods.

Reynolds also recorded a short humorous advertisement for Nuvei in which he appears alongside founder and CEO Philip Fayer.

Nuvei is a publicly listed company that saw $843.3 million in revenue in 2022 and has New Balance, Virgin Atlantic, and DraftKings among its clients. It recently acquired competitor Paya Holdings in a deal that is valued at $1.3 billion.

Reynolds currently also has a stake in gin brand Aviation American Gin and co-owns soccer club Wrexham AFC with his friend and fellow actor Rob McElhenney.

“I know about as much about fintech as I did about gin or mobile a few years ago. But Nuvei is impressive,” Reynolds said in a statement issued on Monday. “The leadership team is exceedingly intelligent and hard-working and it’s about time a Canadian company got the type of attention American tech companies do.”

The post Actor Ryan Reynolds Invests in Fintech Firm Nuvei appeared first on theprimarymarket.com.

In a recent interview with the Japanese finance publication Nikkei, Buffett revealed that “geopolitical tensions” surrounding the region were a significant consideration in the company’s decision to end its ties with TSMC. While Buffett went on to praise TSMC for good management, he also added that there are better places for Berkshire to invest its money.

Berkshire made the $4.1 billion investment in TSMC in June and September of 2022 but offloaded more than 86 percent of shares by the end of the year. It still owned 8.3 million shares in early 2023. 

Buffett had his chat with Nikkei while visiting Japan, where Berkshire made significant additions to its portfolio. According to Business Insider, the conglomerate increased its stakes in Japanese companies Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo, with a combined value of its positions being estimated at $14 billion.

According to Buffett, Berkshire intends to keep adding to its stakes in the future and hopes to expand the partnership in other ways.

“We don’t think it’s impossible that we will partner with them at some point in the future in a specific deal,” Buffett explained.

The post Warren Buffett Explains Why Berkshire Hathaway Unloaded Its TSMC Stake appeared first on theprimarymarket.com.

Musk recently purchased thousands of acres of land outside Austin, Texas, and wants to use it to construct an entire town where his employees could work and live. The project is described as a “Texas utopia along the Colorado River.”

There are currently discussions to incorporate the town into Bastrop County, a move that would allow Musk to “set some regulations in his own municipality” and fastrack the entire project. He also plans to offer rentals well below market value, with three-bedroom homes expected to be priced at $800 per month. For comparison, similar rentals in the area cost $2,200 in monthly rent.

WSJ reports that the town would be adjacent to the facilities of Musk’s Boring Company and SpaceX, which are currently under construction. There are already some activities on the site, with modular homes, a recreational area, a pool, and a gym already in place.

The stage to which Musk’s plan to build a town has progressed is currently unclear. Bastrop County’s spokesperson told WSJ that they hadn’t received any application for incorporation from Musk. It is important to note that the town would need to have more than 200 residents to be eligible to incorporate under Texas law.

The post Elon Musk Plans to Build a “Town” in Texas for His Employees appeared first on theprimarymarket.com.

Musk recently announced on social media that he is launching his own perfume called “Burnt Hair.” The perfume is being released by his Boring Company, which has a track of releasing quirky products like flamethrowers and hats.

One bottle of this perfume costs $100 and the customers can use the meme cryptocurrency Dodge Coin to make their purchases. But despite what some might call a steep price, the perfume is selling like hot cake. According to Musk, “Burnt Hair” sold 10K bottles in less than six hours, raking in $1 million in sales. 

Musk was so proud of the success of his newest product that he even changed his Twitter bio and described himself as a “Perfume Salesman.” 

Those interested in owning this unusual perfume, described as “the essence of repugnant desire,“ can place an order for it on Boring Company’s official website. The deliveries will start rolling out in the first quarter of 2023.

“Just like leaning over a candle at the dinner table, but without all the hard work,” the product description states.

The post Elon Musk Launches Perfume Called “Burnt Hair,” Sells 10K Bottles in Few Hours appeared first on theprimarymarket.com.

Scion exited the positions in 11 U.S. long stock holdings, including major tech stocks like Google’s parent company Alphabet and Facebook’s parent company Meta. On the other hand, the fund acquired 501,360 shares of Geo Group, which currently trades at $8.14 per share.

It is important to note that Scion’s 13-F regulatory filing, which revealed the stock dump, only contains data on long stock holdings in the United States. The info about the short positions and stock holdings on exchanges outside the U.S. is not included.

Michael Burry rose to prominence during the 2008 financial crisis after predicting the real estate bubble’s burst and turning a huge profit from the subprime mortgage crisis. He served as an inspiration for the Academy Award-nominated movie The Big Short. Recently, Burry has been warning about the state of the U.S. economy and the upcoming crisis due to consumer debt.

The post Michael Burry’s Scion Bets Big on Geo Group, Sells All Other Stock appeared first on theprimarymarket.com.

During a recent interview with CNBC, O’Leary argued that “equities are the place to be” as the fixed incomes have it a lot worse as the rising rates hurt fixed incomes a lot more. However, in order to find success, you need to invest in the right stocks.

O’Leary recommends investing in companies that are able to hike the prices of their products with ease while avoiding alienating their customers. This includes consumer cyclicals and healthcare stocks.

“Where you want to be in equities, particularly when rates start taking up, is in companies that have pricing power,” he shared.

O’Leary is also bullish on energy stocks. Although oil prices are decreasing recently, the energy sector proved to be a good place to turn in times of challenging economy. The energy stocks have been up across the board in recent months, and there are no indicators that will change anytime soon.

Finally, the Canadian entrepreneur concluded that owning ETF is also a good strategy for times of high inflation since its dominated by companies that are providing services and manufacturing products people need at all times.

The post “Shark Tank”‘s Kevin O’Leary Shares the Best Stocks to Own in Time of Inflation appeared first on theprimarymarket.com.

People in the business community probably hate taxes the most, which is why tensions rose dramatically when a new bill was recently suggested. A new 1% tax law that would help share buybacks sparked a bit of outrage among citizens, and certainly a lot of divides as well.

That’s where billionaire Mark Cuban comes into the picture.

The famous entrepreneur and Shark Tank star has always been open about the fact that he doesn’t like buybacks and has even gone on record to say that they’re “not good for most employees of the companies that do” them.

So when this new law was put into question, pending a vote, Cuban continued to express his disdain over the topic. Through a series of passionate tweets, Cuban explained pretty clearly that he doesn’t agree with this law if it were to become official.

And by looking at many of the comments on Twitter, it looks as though many people completely agree with him.

The post Mark Cuban Expresses Passionate Opinion on Tax Law appeared first on theprimarymarket.com.

During a recent appearance on comedian Kevin Hart’s show Hart to Heart, Cuban shared how Uber cofounder Travis Kalanick approached him in 2009 with an offer to get a piece of the transportation app. The two knew each other since Cuban previously invested in Kalanick’s peer-to-peer file-sharing company Red Swoosh and saved it from bankruptcy.

 According to Cuban, he was interested in backing up Kalanick once again but didn’t think his valuation of $10 million was appropriate. Cuban offered an investment at a $5 million valuation but never heard back from Kalanick again.

“He got somebody else,” Cuban shared. “Whoops.”

Hart also had the opportunity to invest in Uber but also decided to pass on it. He was asked to put in $50,000 to $75,000 in the company’s early days, missing out on hundreds of millions of dollars.

On the other hand, Cuban shared that Kalanick asked for $250,000 from him. Considering that Uber is now worth around $90 billion, Cuban missed out on more than $2 billion.

The post Mark Cuban Shares the Story of How He Passed on the Opportunity to Invest in Uber appeared first on theprimarymarket.com.

Speaking with Forbes in a recent interview, Koch said that he prefers to focus on running his beer business than being a savvy stock trader. However, he still wants to “diversify his risks” and “protect his money.”

“I don’t believe that I have any chance in hell of outsmarting the professional investors,” he shared.

According to Koch, he trusts his wife’s assistant to take care of his stock portfolio. This wouldn’t be unusual if it wasn’t for the fact that the family initially hired the assistant as a babysitter two decades ago.

The assistant goes over the stocks in the portfolio every two weeks and moves on from losing positions. She then picks out one stock from S&P 500 and Russell 2000 to invest in at random.

“I don’t want to worry about it,” he adds. “It’s boring. It’s annoying.”

Koch explained that his strategy generally worked out well for him and that it outperformed a significant number of portfolios that see active management. But if you think about emulating his technique, you might want to think again. He is a billionaire, and he can handle it if he runs out of luck.

The post Boston Beer Company Co-Founder Jim Koch Says He Buys Stock Randomly Every 2 Weeks appeared first on theprimarymarket.com.

The NFIB’s Small Business Optimism Index rose by 1.6 points in June to 91, marking its highest month-over-month rise since August 2022. Optimism regarding near-term economic prospects grew to its highest level since February 2022, with the NFIB’s general business conditions outlook index climbing 10 points to negative 40. Small businesses have exhibited a negative view of near-term prospects since December 2020.

Sales expectations among small businesses rose in June as the net percentage of business owners expecting weaker sales in the next three months fell compared to May. The overall sales outlook is now at its highest level in four months.

In June’s report, 24% of small business owners listed inflation as their biggest challenge, down from 25% in May. This is also a 13-point decline from last July’s peak.

“Inflation and labor shortages continue to be great challenges for small businesses,” NFIB Chief Economist Bill Dunkelberg acknowledged. “Owners are still raising selling prices at an inflationary level to try to pass on higher inventory, labor, and energy costs.”

The post Small Business Confidence Hits Seven-Month High, NFIB Reports appeared first on theprimarymarket.com.

Reynolds announced on Monday that he made an investment in payments technology company Nuvei Corporation. The Canadian fintech firm provides businesses with pay-in and payout options that allow them to send or receive payments from more than 500 payment methods.

Reynolds also recorded a short humorous advertisement for Nuvei in which he appears alongside founder and CEO Philip Fayer.

Nuvei is a publicly listed company that saw $843.3 million in revenue in 2022 and has New Balance, Virgin Atlantic, and DraftKings among its clients. It recently acquired competitor Paya Holdings in a deal that is valued at $1.3 billion.

Reynolds currently also has a stake in gin brand Aviation American Gin and co-owns soccer club Wrexham AFC with his friend and fellow actor Rob McElhenney.

“I know about as much about fintech as I did about gin or mobile a few years ago. But Nuvei is impressive,” Reynolds said in a statement issued on Monday. “The leadership team is exceedingly intelligent and hard-working and it’s about time a Canadian company got the type of attention American tech companies do.”

The post Actor Ryan Reynolds Invests in Fintech Firm Nuvei appeared first on theprimarymarket.com.

In a recent interview with the Japanese finance publication Nikkei, Buffett revealed that “geopolitical tensions” surrounding the region were a significant consideration in the company’s decision to end its ties with TSMC. While Buffett went on to praise TSMC for good management, he also added that there are better places for Berkshire to invest its money.

Berkshire made the $4.1 billion investment in TSMC in June and September of 2022 but offloaded more than 86 percent of shares by the end of the year. It still owned 8.3 million shares in early 2023. 

Buffett had his chat with Nikkei while visiting Japan, where Berkshire made significant additions to its portfolio. According to Business Insider, the conglomerate increased its stakes in Japanese companies Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo, with a combined value of its positions being estimated at $14 billion.

According to Buffett, Berkshire intends to keep adding to its stakes in the future and hopes to expand the partnership in other ways.

“We don’t think it’s impossible that we will partner with them at some point in the future in a specific deal,” Buffett explained.

The post Warren Buffett Explains Why Berkshire Hathaway Unloaded Its TSMC Stake appeared first on theprimarymarket.com.

Musk recently purchased thousands of acres of land outside Austin, Texas, and wants to use it to construct an entire town where his employees could work and live. The project is described as a “Texas utopia along the Colorado River.”

There are currently discussions to incorporate the town into Bastrop County, a move that would allow Musk to “set some regulations in his own municipality” and fastrack the entire project. He also plans to offer rentals well below market value, with three-bedroom homes expected to be priced at $800 per month. For comparison, similar rentals in the area cost $2,200 in monthly rent.

WSJ reports that the town would be adjacent to the facilities of Musk’s Boring Company and SpaceX, which are currently under construction. There are already some activities on the site, with modular homes, a recreational area, a pool, and a gym already in place.

The stage to which Musk’s plan to build a town has progressed is currently unclear. Bastrop County’s spokesperson told WSJ that they hadn’t received any application for incorporation from Musk. It is important to note that the town would need to have more than 200 residents to be eligible to incorporate under Texas law.

The post Elon Musk Plans to Build a “Town” in Texas for His Employees appeared first on theprimarymarket.com.

Musk recently announced on social media that he is launching his own perfume called “Burnt Hair.” The perfume is being released by his Boring Company, which has a track of releasing quirky products like flamethrowers and hats.

One bottle of this perfume costs $100 and the customers can use the meme cryptocurrency Dodge Coin to make their purchases. But despite what some might call a steep price, the perfume is selling like hot cake. According to Musk, “Burnt Hair” sold 10K bottles in less than six hours, raking in $1 million in sales. 

Musk was so proud of the success of his newest product that he even changed his Twitter bio and described himself as a “Perfume Salesman.” 

Those interested in owning this unusual perfume, described as “the essence of repugnant desire,“ can place an order for it on Boring Company’s official website. The deliveries will start rolling out in the first quarter of 2023.

“Just like leaning over a candle at the dinner table, but without all the hard work,” the product description states.

The post Elon Musk Launches Perfume Called “Burnt Hair,” Sells 10K Bottles in Few Hours appeared first on theprimarymarket.com.

Scion exited the positions in 11 U.S. long stock holdings, including major tech stocks like Google’s parent company Alphabet and Facebook’s parent company Meta. On the other hand, the fund acquired 501,360 shares of Geo Group, which currently trades at $8.14 per share.

It is important to note that Scion’s 13-F regulatory filing, which revealed the stock dump, only contains data on long stock holdings in the United States. The info about the short positions and stock holdings on exchanges outside the U.S. is not included.

Michael Burry rose to prominence during the 2008 financial crisis after predicting the real estate bubble’s burst and turning a huge profit from the subprime mortgage crisis. He served as an inspiration for the Academy Award-nominated movie The Big Short. Recently, Burry has been warning about the state of the U.S. economy and the upcoming crisis due to consumer debt.

The post Michael Burry’s Scion Bets Big on Geo Group, Sells All Other Stock appeared first on theprimarymarket.com.

During a recent interview with CNBC, O’Leary argued that “equities are the place to be” as the fixed incomes have it a lot worse as the rising rates hurt fixed incomes a lot more. However, in order to find success, you need to invest in the right stocks.

O’Leary recommends investing in companies that are able to hike the prices of their products with ease while avoiding alienating their customers. This includes consumer cyclicals and healthcare stocks.

“Where you want to be in equities, particularly when rates start taking up, is in companies that have pricing power,” he shared.

O’Leary is also bullish on energy stocks. Although oil prices are decreasing recently, the energy sector proved to be a good place to turn in times of challenging economy. The energy stocks have been up across the board in recent months, and there are no indicators that will change anytime soon.

Finally, the Canadian entrepreneur concluded that owning ETF is also a good strategy for times of high inflation since its dominated by companies that are providing services and manufacturing products people need at all times.

The post “Shark Tank”‘s Kevin O’Leary Shares the Best Stocks to Own in Time of Inflation appeared first on theprimarymarket.com.

People in the business community probably hate taxes the most, which is why tensions rose dramatically when a new bill was recently suggested. A new 1% tax law that would help share buybacks sparked a bit of outrage among citizens, and certainly a lot of divides as well.

That’s where billionaire Mark Cuban comes into the picture.

The famous entrepreneur and Shark Tank star has always been open about the fact that he doesn’t like buybacks and has even gone on record to say that they’re “not good for most employees of the companies that do” them.

So when this new law was put into question, pending a vote, Cuban continued to express his disdain over the topic. Through a series of passionate tweets, Cuban explained pretty clearly that he doesn’t agree with this law if it were to become official.

And by looking at many of the comments on Twitter, it looks as though many people completely agree with him.

The post Mark Cuban Expresses Passionate Opinion on Tax Law appeared first on theprimarymarket.com.