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Elon Inc: What Did Musk Accomplish With ‘DOGE'?

Elon Inc: What Did Musk Accomplish With ‘DOGE'?

Bloomberg3 days ago
Elon Musk left Washington and his 'Department of Government Efficiency' initiative with a highly controversial and, many would say, disappointing track record. For followers of President Donald Trump and the idea of slashing what he's claimed is out-of-control government spending, Musk's self-reported $199 billion in savings (which cannot be independently confirmed) is a far cry from the $2 trillion the Tesla CEO promised. As far as Musk's detractors are concerned, his cuts—often executed in haphazard fashion as his twenty-something minions unceremoniously fired long-serving federal employees—have not only disrupted how the government operates on a fundamental level, but also triggered dramatic downstream consequences, many irreversible, both domestically and across the globe. In this episode of Elon, Inc., Max Chafkin sits down with Wired magazine senior writer Makena Kelly to discuss the legacy Musk leaves behind in Washington. How do you make sense of the hundreds of thousands or people estimated to have already died in Africa and elsewhere because of Musk's gleeful dismantling of USAID? Or how the supposed savings of 'DOGE' compare to the $3.1 trillion recently tacked on to America's $37 trillion national debt by Trump's 'Big Beautiful Bill'? And what are the consequences for the country now that Musk has upended the lives and morale of those federal workers who remain, many of whom still work under the shadow of more firings? For Kelly, Musk's lasting legacy will be one of cultural shakeup: Many of the people he and Trump have placed in positions of power say they think the federal government should be run more like a tech startup than a traditional bureaucracy. And even though he's physically absent, they still don't want to fall out of favor with the world's richest man. Finally, Kelly outlines what she says we can expect from 'DOGE 2.0.'
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6 Brutal Truths You Learn After Going Broke, According to Austin Williams
6 Brutal Truths You Learn After Going Broke, According to Austin Williams

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  • Yahoo

6 Brutal Truths You Learn After Going Broke, According to Austin Williams

It's easy to think everything will always be okay, until it's not. In a YouTube video, personal finance educator Austin Williams shared six brutal truths people often learn after going broke. The below lessons, hard-earned and painfully honest, are reminders of why we all need to prepare for life's unexpected financial curveballs. Read Next: For You: Savings Are Life-Saving When disaster strikes whether it's job loss, economic downturn or an unexpected expense, your savings become your lifeline. Austin illustrated this with the story of a friend who lost his job in international development. Because he'd saved aggressively in the years prior, he could take his time finding the right next move. Another friend in the same situation, but without savings, had to wait tables within a month just to stay afloat. 'One person gets time, space and options, while the other has to scramble just to survive,' Williams said. Discover Next: It's Easier To Do Something Than Undo It 'It's very easy to make bad financial decisions in the present and not worry about them,' Williams said. Whether it's putting lunch on a credit card or using buy-now-pay-later services for concerts, these decisions are easy now, but costly later. In his video he warned that the concert ticket that took 10 minutes to pay with Affirm will take six months to pay off and the exciting new car will be a five-year financial burden. He urged viewers to ask themselves, 'Will this be harder to undo than it is to avoid?' More often than not, the answer is yes. Small Decisions Are Much Easier Than One Big One According to Williams, people in financial distress often find themselves forced into making very big decisions, like trying to escape massive debt or turn around their financial situation in a hurry. But those big problems? They're usually the result of small choices stacked on top of each other. 'Small decisions often don't feel significant in the moment,' Williams said. 'But the truth is a big problem is just hundreds of small decisions that compounded over time.' If your decisions haven't yet compounded into a crisis, this is your moment. Williams recommended that you keep your small decisions in check. That way, you don't have to clean up any mess by making one very big decision. There's No replacement for Time Being broke isn't a life sentence, but trying to recover when time is no longer on your side is a different story. Williams compares two people: one who is 40 and one who is 60, both starting with zero in retirement savings. The younger person still has time to invest and grow wealth. But the 60-year-old? 'Even setting aside $1,000 a month will not give them much to retire with,' he explained. 'They're not just unprepared, they're out of time.' This lesson hits hard here as Williams said they live their lives telling themselves, 'I'll start saving next year.' Only to eventually realize the hill is much steeper than it would've been if they took action earlier. Peace Is More Valuable Than Possessions When times are good, upgrading your lifestyle feels like the next logical step. But when life takes a turn, you quickly come to the realization that none of the stuff you possess matters. 'The things that we often chase are the things that often rob us of peace in the long term like the car payment that keeps you up at night, the credit card bill that lingers in the back of your mind,' Williams said. People who've gone broke often reflect on how they would give up everything they bought just to have peace again. So ask yourself whether you're trading possessions for your peace of mind. Being Ahead Is Not as Hard as It Seems The biggest misconception people have about personal finance is that it's only for the wealthy or the financial experts. But Williams insists the truth is far simpler. 'They think that in order to be in a good financial situation, you have to be making a high income, have a complicated investment plan and master complex financial concepts,' he said. But what actually works? Tracking your expenses, creating a budget, living below your means and avoiding debt. These aren't glamorous strategies, but they're effective after making small and intentional choices each day. 'Start making good choices today while it's still easy because once reality hits, it becomes a lot harder to clean up that mess,' Williams added. More From GOBankingRates 5 Ways Trump Signing the GENIUS Act Could Impact RetireesI'm a Retired Boomer: 6 Bills I Canceled This Year That Were a Waste of Money This article originally appeared on 6 Brutal Truths You Learn After Going Broke, According to Austin Williams Sign in to access your portfolio

Mairs and Power's Strategic Moves: A Closer Look at Meta Platforms Inc.
Mairs and Power's Strategic Moves: A Closer Look at Meta Platforms Inc.

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Mairs and Power's Strategic Moves: A Closer Look at Meta Platforms Inc.

Insights from the Second Quarter of 2025 Mairs and Power (Trades, Portfolio) recently submitted their 13F filing for the second quarter of 2025, offering a glimpse into their strategic investment decisions during this period. Based in Minnesota, Mairs and Power (Trades, Portfolio) manages three mutual funds: the Growth Fund, the Balanced Fund, and the Small-Cap Fund. Since its inception in 1931, the firm has adhered to a focused long-term investing process. Mairs and Power (Trades, Portfolio) prioritize companies with consistent, above-average growth, strong returns on invested capital, and durable competitive advantages. Their low turnover approach allows for well-considered investment decisions, enabling a deep understanding of business strategies and market cycles. By focusing on less efficient market areas, Mairs and Power (Trades, Portfolio) aim to benefit investors who adopt a long-term perspective, contrasting with many active managers and hedge fund managers who focus on short-term catalysts. Warning! GuruFocus has detected 7 Warning Sign with MSFT. Summary of New Buy Mairs and Power (Trades, Portfolio) added a total of 23 stocks, among them: The most significant addition was Idacorp Inc (NYSE:IDA), with 244,510 shares, accounting for 0.28% of the portfolio and a total value of $28.23 million. The second largest addition to the portfolio was Mairs & Power Minnesota Municipal Bond ETF (MINN), consisting of 206,186 shares, representing approximately 0.04% of the portfolio, with a total value of $4.48 million. The third largest addition was RadNet Inc (NASDAQ:RDNT), with 57,731 shares, accounting for 0.03% of the portfolio and a total value of $3.29 million. Key Position Increases Mairs and Power (Trades, Portfolio) also increased stakes in a total of 100 stocks, among them: The most notable increase was Meta Platforms Inc (NASDAQ:META), with an additional 193,254 shares, bringing the total to 218,761 shares. This adjustment represents a significant 757.65% increase in share count, a 1.4% impact on the current portfolio, with a total value of $161.47 million. The second largest increase was UnitedHealth Group Inc (NYSE:UNH), with an additional 150,506 shares, bringing the total to 1,057,160. This adjustment represents a significant 16.6% increase in share count, with a total value of $329.80 million. Summary of Sold Out Mairs and Power (Trades, Portfolio) completely exited 9 holdings in the second quarter of 2025, as detailed below: Neogen Corp (NASDAQ:NEOG): Mairs and Power (Trades, Portfolio) sold all 455,289 shares, resulting in a -0.04% impact on the portfolio. Vanguard Total Stock Market ETF (VTI): Mairs and Power (Trades, Portfolio) liquidated all 2,585 shares, causing a -0.01% impact on the portfolio. Key Position Reduces Mairs and Power (Trades, Portfolio) also reduced positions in 86 stocks. The most significant changes include: Reduced Best Buy Co Inc (NYSE:BBY) by 672,762 shares, resulting in an -89.58% decrease in shares and a -0.52% impact on the portfolio. The stock traded at an average price of $68.02 during the quarter and has returned 0.30% over the past 3 months and -13.77% year-to-date. Reduced Apple Inc (NASDAQ:AAPL) by 213,024 shares, resulting in a -15.71% reduction in shares and a -0.49% impact on the portfolio. The stock traded at an average price of $202.27 during the quarter and has returned 10.32% over the past 3 months and -6.62% year-to-date. Portfolio Overview At the end of the second quarter of 2025, Mairs and Power (Trades, Portfolio)'s portfolio included 235 stocks. The top holdings included 9.84% in Microsoft Corp (NASDAQ:MSFT), 9.07% in NVIDIA Corp (NASDAQ:NVDA), 5.4% in Inc (NASDAQ:AMZN), 4.3% in JPMorgan Chase & Co (NYSE:JPM), and 3.37% in Graco Inc (NYSE:GGG). The holdings are mainly concentrated in all 11 industries: Technology, Industrials, Financial Services, Healthcare, Consumer Cyclical, Communication Services, Basic Materials, Utilities, Consumer Defensive, Energy, and Real Estate. This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein. This article first appeared on GuruFocus.

Leon Cooperman's Strategic Moves: Alphabet Inc. Sees Significant Reduction
Leon Cooperman's Strategic Moves: Alphabet Inc. Sees Significant Reduction

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time19 minutes ago

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Leon Cooperman's Strategic Moves: Alphabet Inc. Sees Significant Reduction

Exploring the Latest 13F Filing and Investment Adjustments Leon Cooperman (Trades, Portfolio) recently submitted the 13F filing for the second quarter of 2025, providing insights into his investment moves during this period. Prior to founding Omega Advisors, Leon Cooperman (Trades, Portfolio) graduated from Columbia University and worked as CEO and Chairman of Goldman Sachs Asset Management. Cooperman converted his hedge fund into a family office in 2018. Leon Cooperman (Trades, Portfolio) combines his macro view and fundamental valuation in his investing strategy. While he does try to predict the market direction, Cooperman also pays close attention to market valuations. Warning! GuruFocus has detected 9 Warning Signs with COOP. Summary of New Buy Leon Cooperman (Trades, Portfolio) added a total of 3 stocks, among them: The most significant addition was Atlas Energy Solutions Inc (NYSE:AESI), with 5,162,095 shares, accounting for 2.43% of the portfolio and a total value of $69,017,210 million. The second largest addition to the portfolio was GE HealthCare Technologies Inc (NASDAQ:GEHC), consisting of 400,000 shares, representing approximately 1.04% of the portfolio, with a total value of $29,628,000. The third largest addition was ArriVent BioPharma Inc (NASDAQ:AVBP), with 421,278 shares, accounting for 0.32% of the portfolio and a total value of $9,171,220. Key Position Increases Leon Cooperman (Trades, Portfolio) also increased stakes in a total of 16 stocks, among them: The most notable increase was Sunoco LP (NYSE:SUN), with an additional 1,185,000 shares, bringing the total to 1,470,000 shares. This adjustment represents a significant 415.79% increase in share count, a 2.23% impact on the current portfolio, with a total value of $78,777,300. The second largest increase was Fidelis Insurance Holdings Ltd (NYSE:FIHL), with an additional 1,006,278 shares, bringing the total to 5,806,056. This adjustment represents a significant 20.97% increase in share count, with a total value of $96,264,410. Summary of Sold Out Leon Cooperman (Trades, Portfolio) completely exited 4 of the holdings in the second quarter of 2025, as detailed below: Las Vegas Sands Corp (NYSE:LVS): Leon Cooperman (Trades, Portfolio) sold all 1,500,000 shares, resulting in a -2.3% impact on the portfolio. Microsoft Corp (NASDAQ:MSFT): Leon Cooperman (Trades, Portfolio) liquidated all 105,705 shares, causing a -1.58% impact on the portfolio. Key Position Reduces Leon Cooperman (Trades, Portfolio) also reduced positions in 5 stocks. The most significant changes include: Reduced Alphabet Inc (NASDAQ:GOOGL) by 575,000 shares, resulting in a -88.46% decrease in shares and a -3.53% impact on the portfolio. The stock traded at an average price of $163.55 during the quarter and has returned 24.90% over the past 3 months and 8.31% year-to-date. Reduced The Cigna Group (NYSE:CI) by 28,655 shares, resulting in a -11.91% reduction in shares and a -0.37% impact on the portfolio. The stock traded at an average price of $322.46 during the quarter and has returned -3.01% over the past 3 months and 9.02% year-to-date. Portfolio Overview At the second quarter of 2025, Leon Cooperman (Trades, Portfolio)'s portfolio included 40 stocks, with top holdings including 15% in Mr. Cooper Group Inc (NASDAQ:COOP), 9.74% in Vertiv Holdings Co (NYSE:VRT), 8.34% in Energy Transfer LP (NYSE:ET), 6.67% in Apollo Asset Management, Inc. (NYSE:APO), and 5.39% in Mirion Technologies Inc (NYSE:MIR). The holdings are mainly concentrated in 10 of all the 11 industries: Financial Services, Industrials, Energy, Healthcare, Basic Materials, Consumer Cyclical, Technology, Communication Services, Consumer Defensive, and Real Estate. This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein. This article first appeared on GuruFocus. Sign in to access your portfolio

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