Financials: Warren Buffett Doubles Down on Brazil and U.S. Consumers Are Spending More Than Pre-COVID

Industry Focus

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4.6 • 854 Ratings

🗓️ 14 June 2021

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

We recently learned that Berkshire Hathaway(NYSE: BRK.A)(NYSE: BRK.B) is investing $500 million in a Brazilian fintech startup, following up on its successful investment in StoneCo (NASDAQ: STNE) a few years ago. Plus, Bank of America (NYSE: BAC) CEO Brian Moynihan says that consumer spending is 20% higher than it was before the pandemic, and Fool.com contributor Matt Frankel thinks it could have big implications for the financial sector. Frankel and host Jason Moser also discuss the latest mall REIT to file for bankruptcy, and each reveal one stock they're watching this week.

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Transcript

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0:00.0	Welcome to Industry Focus. The Podcast that dives into a different sector of the stock market each day.
0:11.0	I'm your host Emily Flippin. I'm Jason Moser. I'm Nick Seyple. I'm Dylan Lewis. And today
0:16.0	we're talking financials. Today we're talking consumer goods. Wild Card Wednesday.
0:20.4	And we're talking energy. And today we're talking tech.
0:23.0	Let's dive in.
0:24.0	It's Monday June 14th.
0:28.0	I'm your host Jason Moser on this week's financial show.
0:32.0	We're going to dig into another big Brazilian
0:34.1	investment for Berkshire Hathaway, consumer spending is on the rise, we'll talk a
0:39.5	bit about Reats and what investors need to look out for.
0:43.0	Wrap things up as always with ones to watch.
0:46.0	Joining me this week.
0:48.0	It's my man, certified financial planner,
0:51.0	Mr. Matt,
0:52.0	how's everything going?
0:53.4	Pretty good. Sun is shining. Dogs are asleep on the chair.
0:56.8	It feels like a Monday on industry focus. Let's do it.
1:00.8	I love it.
1:01.8	I love it. Lazy Mondays with the dog sleeping next to you. That is a good feeling.
1:06.2	Well, yeah, let's jump right into it then. Last week we saw a, I think, a very noteworthy headline, Berkshire Hathaway making a, for most, a large
1:20.4	investment in Brazilian FinTech leader, I guess you could say there, it does seem like this is a leader in the
1:28.6	Brazilian FinTech space New Bank.
	...

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