AI’s Hold Over Humans Is Starting to Get Stronger

(Bloomberg Opinion) — It has been an exasperating week for computer scientists. They’ve been falling over each other to publicly denounce claims from Google engineer Blake Lemoine, chronicled in a Washington Post report, that his employer’s language-predicting system was sentient and deserved all of the rights associated with consciousness.

The Fed Has No Choice But to Let This Tantrum Rip

The Sound of the Fed’s Silence There are ways of overcoming modesty. Central banks customarily go into self-imposed silence ahead of important monetary policy meetings. In  Britain this is nicknamed “purdah,” after the religious practice of separating women from men with a curtain. With the Federal Open Markets Committee due to meet Wednesday, there was no way policy … Read more

The Oil Price Shock Will Reverberate Into Next Year

(Bloomberg Opinion) — Wall Street may be abuzz with talk of recession next year, but it’s a different story in the energy market. Most traders, policy makers and analysts see oil demand growing through 2023 and supply struggling to keep pace. In private, Western officials worry Brent crude will reach $150 a barrel soon from about $120 now. Some fear it … Read more

The wild, hair-raising ride of a 30-something investor who has battled NFT hackers and dodged the crypto crash: ‘My $25,000 ballooned to $63,000. I was like, “OMG, this is amazing.”’

Vinny Zane has a taste for life — and an appetite for risk. The 38-year-old teacher and father of a 2-year-old son on Brooklyn’s Coney Island got into crypto in 2017 with $4,000 worth of Bitcoin, and jumped into NFTs, or non-fungible tokens, last year.  “It was a learning curve for me,” he told MarketWatch. … Read more

JPMorgan Stars Take Other Side of Dimon’s ‘Hurricane’ Trade

(Bloomberg Opinion) — As chairman and chief executive officer of JPMorgan Chase & Co., Jamie Dimon is perhaps the most powerful person in the banking industry anywhere in the world. So when he says — like he did on June 1 — that investors should brace for an economic “hurricane,” it’s worth taking the warning both literally … Read more

Opinion: With Sheryl Sandberg gone from Facebook, Wall Street should fear its future

When Sheryl Sandberg first joined Facebook in 2008, she was often referred to as the “adult in the room” that could help co-founder and Chief Executive Mark Zuckerberg, then just 24 years old, turn it into a company Wall Street could trust. Nearly a decade-and-a-half later, Sandberg announced her impending departure Wednesday after fulfilling that … Read more

Good news for home buyers? Fannie Mae chief economist says the U.S. housing market has finally turned a corner. Here’s why.

The inventory shortage, high prices and rising interest rates have finally bitten. Single-family home sales fell sharply by 16.6% in April to a seasonally adjusted annualized rate of 591,000, according to Census Bureau data released Tuesday. That was the slowest rate of sales since April 2020 during the earliest days of the COVID-19 pandemic, offering … Read more

Opinion: Elon Musk doesn’t want to buy Twitter anymore, but Twitter should make him pay for it

It’s becoming quite clear that Elon Musk no longer wants to buy Twitter Inc., at least not at the price he negotiated. But Twitter should not walk away without at least $1 billion — and potentially much more — for the trouble. Musk’s bid for Twitter TWTR, +2.49% has become one of the strangest M&A … Read more

This idiot-proof portfolio has beaten traditional stocks and bonds over 50 years

Do you have the right portfolio for your retirement savings? When it comes to long-term investing, the biggest issue — by far — is overall asset allocation: How much to stocks, sectors, assets and so on. Picking individual securities within those asset classes — individual stocks or bonds, for example — usually turns out to … Read more