Money Minute: Buffett's Latest Investment Advice; Modell's CEO Spied on Dick's?

×

A case of corporate espionage involving baseball bats and sneakers.

The CEO of Modell's Sporting Goods is accused of going into a suburban New Jersey store of the rival chain Dick's Sporting Goods (DKS), claiming to be a senior vice president of Dick's. A lawsuit filed against him claims Mitchell Modell tried to get confidential information about Dick's online sales and the process it uses to deliver merchandise more quickly.

Modell's-Dick's-Lawsuit
Jason Decrow/Invision/APModell's Sporting Goods CEO Mitchell Modell.
There are also accusations of corporate misconduct on the West Coast. According to the New York Times, 64,000 computer engineers and programmers allege that Silicon Valley executives colluded to keep salaries down and keep workers from switching firms. A trial is scheduled for this spring.

Famed investor Warren Buffett offers some advice for his wife and the rest of us. In his annual letter to shareholders, Buffett suggests we invest 10 percent of our assets in short-term government bonds and 90 percent in a very low-cost S&P 500 index. Buffett expects that simple formula will be -- in his words -- "superior to those attained by most investors."

Investors around the world are scrambling, trying to avoid the fallout from the growing conflict between Russia and Ukraine. The fear is, it could have a major impact on the economies in Europe. Stock markets in Europe tumbled, a key Russian stock index plunged 11 percent, and the Russian ruble fell to its lowest level ever against the dollar.

Here on Wall Street last week, the Dow Jones industrial average (^DJI) gained 281 points, or 1.4 percent. The Standard & Poor's 500 index (^GPSC) rose 1.3 percent, to a record high, and the Nasdaq composite (^IXIC) added nearly 1 percent.

Finally, more than 27,000 online poker players have all drawn a winning hand. A court appointed administrator said they are entitled to $76 million from defunct firm Full Tilt Poker. The company agreed nearly two years ago to forfeit almost all of its assets to the government and the its CEO later pleaded guilty to a series of fraud and gambling charges.

-Produced by Drew Trachtenberg.


Increase your money and finance knowledge from home

Reading a Stock Quote

Learn to read the ingredients of a stock.

View Course »

Understanding Stock Market Indexes

What does it mean when people say "the market is up 2%"?

View Course »

Add a Comment

*0 / 3000 Character Maximum

7 Comments

Filter by:
whatsitis

obama is a punk PHOT pick of the day : )

March 04 2014 at 4:33 PM Report abuse rate up rate down Reply
rwolfen984

Yes save and if it does good the Robber BARREN from Omaha will take it away from you!

March 03 2014 at 3:53 PM Report abuse rate up rate down Reply
betty_brock

Obama says to the terrorists, "Can't we just get along." Sorry, this is off subject but I couldn't resist.

March 03 2014 at 3:51 PM Report abuse +1 rate up rate down Reply
1 reply to betty_brock's comment
betty_brock

North Korea is going to kill us any day now, so what's the dif?

March 03 2014 at 3:52 PM Report abuse rate up rate down Reply
tmoschetti

"Buffett's Latest Investment Advice" Unlike us pay the billion dollars if th IRS says you owe it. You have to we don't because i can afford teams of high prices lawyers to fight Yes I know I said that I didn't pay enough taxes, but I'm an Obama liberal, so what do you expect!

March 03 2014 at 2:13 PM Report abuse +1 rate up rate down Reply
rbell72981

advice from a guy thats backs obumer? Not for me. He must not be as smart as the media makes him out. The dems love him but according to their guidelines he should be part of the problem because of the money he makes. Kind of like the '99%' protesting a couple of years ago. Apple was one of the must profitable companies in the world and they hate corp. profit, but I bet 99% of the '99%er's" used apple products everyday.

March 03 2014 at 11:13 AM Report abuse -1 rate up rate down Reply
Socho Ekon

What Warren will never tell you is how he really made his money... It starts with not paying out life insurance policies by catching the widow in her grief and telling her she can accept 65% of what she is supposed to get or get a lawyer and only get 50% after going to court. Do that till the late 1980's to make your first few billion. Then go around to all the state governments and pay off politicians to make having auto insurance mandatory instead of the old $20,000 in the bank system that existed for a 100 years. Then as you rape the world with insurance, use that money to buy up profitable companies.... Warren Buffett 101

March 03 2014 at 10:49 AM Report abuse rate up rate down Reply
1 reply to Socho Ekon's comment
Socho Ekon

save 100% on car insurance by not purchasing any.

March 03 2014 at 10:49 AM Report abuse rate up rate down Reply
alfredschrader

Warren Buffett is telling investors to put 10% into Government bonds and 90% into the Standard and Poors 500.
But, that's not what Buffett is doing. About half of the Berkshire Hathaway portfolio is in cash and cash equivalents, not 10%. Buffett is not an invesment guru, he makes it selling insurance - GEICO is one of his companies. A GEICO ad plays every 3 seconds somewhere on Earth.
Buffett wins if he only breaks even or actually loses money in the markets.
State laws require you to buy auto insurance or you simply can't drive.
Did you know that less than 3% of auto insurance buyers ever get a dime of their premiums back ?
Buffett basically has a license to steal and it's worked so well that he's still raking it in even when he himself is too on in years to even drive.

March 03 2014 at 10:21 AM Report abuse -1 rate up rate down Reply
2 replies to alfredschrader's comment
Socho Ekon

"I will only invest in American Companies".... quote from Warren Buffet up till 1998

March 03 2014 at 10:51 AM Report abuse rate up rate down Reply
SPQR

But you can buy the "General "

March 03 2014 at 12:59 PM Report abuse rate up rate down Reply