Good morning. It's Thursday, Jan. 8, and welcome to this week's Business & Finance newsletter. In light of oil stocks rising after the US strike on oil-rich Venezuela, we're covering Oil Markets. We're also covering Counterfeiting, and, given his Jan. 1 retirement, legendary investor Warren Buffett. Have feedback for us? We're all ears—simply hit the reply button on this email to send us your thoughts!
As always, thanks for being a reader.
—Phoebe Bain, 1440 Business & Finance Section Editor
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Oil markets, explained
Oil markets are a complex global system of producing, distributing, trading, and pricing petroleum products used to make diesel, jet fuel, solvents, and more.
For investors, the system of trading oil contracts offers financial access to the industry without actually having to take possession of any barrels. Traders buy and sell financial contracts, betting on future price changes of the commodity based on fluctuations in supply and demand.
These complicated and expensive investments aren’t realistic for most retail investors. Instead, these investors can gain exposure to oil markets by putting money into exchange-traded funds focused on the energy sector, or by buying oil company stocks. Oil can help diversify a portfolio beyond more traditional investments such as stocks and bonds, often acting as a hedge against inflation due to rising energy costs.
Predicting oil prices is a complicated business, as they’re sensitive to geopolitical events. For instance, in 2022, Russia’s invasion of Ukraine disrupted the market, with oil prices spiking significantly.
Also, check out ...
> Oil prices have been volatile for decades. (View)
> Crude oil is the type of oil used to create fuel like gasoline, heating oil, and more. (Read)
> Oil markets are seeing higher costs and lower prices amid tech breakthroughs. (Listen)
> The number of annual oil spills has dropped dramatically since the 1970s. (View)
Explore everything else we've found on Oil Markets. |
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Tax-Taming Strategies for Investors With $5M+ |
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Considering Counterfeiting |
What is counterfeiting?
Counterfeiting, as it pertains to currency, is any fraudulent creation or alteration of currency designed to replicate legal tender. For about as long as humans have been using money, they have been counterfeiting it—and facing serious consequences when caught. The amount of counterfeit US currency currently in circulation is estimated to be anywhere between $15M to $30M as of 2025.
In 1690, for instance, an English husband and wife were sentenced to death for “coin clipping,” the early counterfeiting practice of shaving the edges off coins to decrease their weight and keep the valuable metal for themselves.
Today, in the United States, both the Bureau of Engraving and Printing and the US Mint are tasked with implementing security features into the designs of their respective notes and coins to combat counterfeiting. Among other things, the US Mint adds tough-to-replicate small ridges on quarters and dimes called “reeds” to prevent counterfeiting, while the BEP takes steps like ensuring each of its printed bills has its own serial number.
Also, check out ...
> A mysterious man named Emmerich Juettner once produced thousands of counterfeit $1 bills. (Read)
> Governments have historically used counterfeiting for economic warfare. (Read)
> Someone who counterfeited over $1M explains how to counterfeit money. (Watch)
> The Secret Service was originally formed to combat counterfeiting. (Read)
Explore everything else we've found on Counterfeiting. |
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The World of Warren Buffett |
Warren Buffett 101
Businessman. Investor. Philanthropist. The “Oracle of Omaha.” These are all titles used to describe investing legend Warren Buffett.
Buffett is the CEO of the world’s largest holding company, Berkshire Hathaway, and is largely considered the most successful investor in history. His philosophy and decisions are widely followed by others in the industry, and Berkshire's shareholder letter is eagerly anticipated each year.
Born in 1930 in Omaha, Nebraska (where he still resides), Buffett bought his first stock at age 11 and made his first real estate investment at age 14.
In 1965, Buffett took over Berkshire Hathaway after purchasing enough of its dying stock. It was originally a textile company, but Buffett transformed it into the most successful holding company in the world, liquidating its textile assets and instead investing in insurance companies. From when he took over through the 1990s, Berkshire Hathaway's stock rose between 10% and 20% every year.
Also, check out ...
> Why Warren Buffett paid a lower effective tax rate than his secretary. (Watch)
> Famously frugal Warren Buffett owns a private jet. (Read)
> Who was Buffett’s right-hand man, Charlie Munger? (Listen)
> Read Berkshire Hathaway's shareholder letters from 1977 on. (Explore)
Explore everything else we've found on Warren Buffett. |
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One Story We're Taking Stock In |
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As it turns out, the famously barefoot WeWork Cofounder Adam Neumann may have been onto something. According to this fun New York Times story that I read over the weekend, many startups are adopting "no shoes" policies in their offices—so many, in fact, that there's a website dedicated to tracking them (see below). Some argue that these sock-footed startups are responding to changing workplace norms post-pandemic, but we simply appreciated their whimsy. |
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> Welcome to the office. Now take off your shoes. (Read) |
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> The no-shoes office directory. (Explore) |
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Are Annuities Actually Good for Your Goals? |
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"Be fearful when others are greedy, and be greedy when others are fearful." |
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