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“It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.” – Warren Buffett
We felt that another Warren Buffett quote was in the cards this morning given that Berkshire reported earnings over the weekend. Shares of BRK/B are trading up 1% in the pre-market, so thus far it appears that investors liked what they saw out of Omaha.
Read today’s Morning Lineup for a recap of all the major market news and events from around the world, including key earnings reports out of Europe and the latest US and international COVID trends.
Also, make sure to check out our Daily Sector Snapshot.
The dog days of August are here, so enjoy it while it lasts. As shown in the chart below of the average absolute daily change of the S&P 500 throughout the calendar year, we remain in a period of low volatility from a seasonal perspective, but things start to really ramp up once we get to September.
Monday mornings aren’t known for bringing out a lot of cheers and joy, but for the market at least, Mondays have been strong lately. As shown below, over the last 12 months, Monday has actually been the best day of the trading week for the S&P 500 with an average gain of 0.23%.
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