Berkshire Mortgages – Hudson Berkshire Experience http://hudsonberkshireexperience.com/ Wed, 22 Jun 2022 09:36:31 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://hudsonberkshireexperience.com/wp-content/uploads/2021/05/cropped-icon-32x32.png Berkshire Mortgages – Hudson Berkshire Experience http://hudsonberkshireexperience.com/ 32 32 Will EasyJet workers go on strike this summer and how will it affect flights? https://hudsonberkshireexperience.com/will-easyjet-workers-go-on-strike-this-summer-and-how-will-it-affect-flights/ Wed, 22 Jun 2022 09:08:41 +0000 https://hudsonberkshireexperience.com/will-easyjet-workers-go-on-strike-this-summer-and-how-will-it-affect-flights/

In recent weeks, the phrase “summer of discontent” has been thrown around. Indeed, it is likely that there will be several different strikes in various public and private sector industries over the next few months.

Aviation could be one such industry, as it looks like EasyJet workers are set to go on strike in July. This strike will take place in Spain, which has “the lowest base pay” for crew of all other European EasyJet workers, according to the USO union secretary.

These strikes could affect thousands of travelers traveling from the UK to Spain. The Spanish Union USO announced on Tuesday a walkout of the air carrier Easy Jet.

READ MORE: Does the Heathrow Express run during rail strikes?

It came after an announcement on Monday that EasyJet would cut 11,000 of its summer flights. The walkout also comes following a dispute over wages.

The USO says the strike will take place on July 1, 2, 3, 15, 16, 17, 29, 30 and 31. The 450 crew members in El Prat, Malaga and Palma de Mallorca are called upon to take part in these 24-hour stops.

These strikes could affect passengers traveling from UK airports to these destinations. USO General Secretary Miguel Galan said: “Since February we have been negotiating with the company to equalize the working conditions of tcp in Spain with those of other European bases, but this has not been possible.

“That’s why we called for this strike, so that the company presents an offer that recognizes the same working conditions for us. Currently, EasyJet crew members in Spain have a base salary of 950 euros , or 850 euros less than our colleagues in France or Germany.

“And the variable, depends on the flying hours. Our bases are in very expensive cities and with the base salary, we barely cover the rent or the mortgage.

“Spain has the lowest basic crew pay of any EasyJet base in Europe. If you fly long hours you pay the bills, but at the cost of reduced rest time and a greater number of flight hours.”

Read more :

]]> Mortgage affordability rule to be scrapped from August 1 https://hudsonberkshireexperience.com/mortgage-affordability-rule-to-be-scrapped-from-august-1/ Mon, 20 Jun 2022 10:34:26 +0000 https://hudsonberkshireexperience.com/mortgage-affordability-rule-to-be-scrapped-from-august-1/

An affordability test for mortgages will be dropped from August, the Bank of England has confirmed. The Bank has already consulted on the potential impacts the removal of the affordability recommendation could have on mortgages, and it confirmed on Monday that the removal will take place from August 1.

Two mortgage recommendations were introduced in 2014, to help guard against a significant increase in household debt which could worsen any economic downturn. These were a loan-to-income limit (LTI) and the affordability test, which specifies a “stress interest rate” that lenders must take into account when assessing the ability of a potential borrower to repay a mortgage over time.

The LTI limit, which will remain in place, limits the number of mortgages that can be granted to borrowers whose LTI ratios are equal to or greater than 4.5. According to Rightmove data released on Monday, the average asking price across Britain stands at £368,614 – with June marking the fifth month in a row that it has hit a record high.

Gemma Harle, managing director of Quilter Financial Planning, said: “While the timing is potentially inappropriate for the announcement, the change in accessibility rules may not be as significant as it seems as the Loan-Income Flow Limit (LTI).’ will not be removed, which has a much greater impact on people’s ability to borrow.

“While the rule change is one of many attempts to help first-time buyers get on the ladder, it may end up having the opposite effect. One of the main drivers of ‘generational rent’ is the fact that house prices have massively outpaced wage growth Due to high house prices, first-time buyers also need very large deposits and in the current fiscal environment it will be very difficult to save this kind of money due to the increase in rents and cost of living.

“On top of that, inflation will eat away at any other savings they have in cash. House prices have become increasingly out of reach for potential buyers and this change in affordability rules could perpetuate further growth. unsustainable as it intensifies demand in a market that is already suffering from limited supply.

The government recently announced an extension of the Right to Buy scheme in England and an independent review of access to mortgage finance for first-time buyers, with the aim of widening access to low-cost, low-deposit finance such as 5% mortgages. The Bank’s Financial Policy Committee (FPC) has found that the LTI flow limit is likely to play a more important role than the affordability test in guarding against an increase in overall household indebtedness and the number of highly indebted households in a scenario of rapidly rising house prices.

Therefore, the LTI limit without the affordability test, but alongside the broader affordability assessment required by the Financial Conduct Authority (FCA) responsible lending rules, should provide the appropriate level of resilience to the system. British financial institution, but in a simpler and more predictable and proportionate way, the Bank said. The Bank added that the majority of responses to the consultations were supportive of the proposals.

He said lenders did not need to make any changes as a result, as current affordability assessments should already comply with the FCA’s responsible lending rules. Data from previous recessions suggests that during economic downturns, highly indebted households are more likely to cut spending sharply, which has the effect of amplifying downturns.

Some potential borrowers may find it harder to afford a home loan in any case as mortgage rates offered by lenders rise, following a series of base rate hikes by the Bank of England. Financial news site Moneyfacts.co.uk said on Monday that the average mortgage standard variable rate (SVR) hit 4.91% in June, marking the highest level since February 2009.

Mortgage borrowers may end up on an SVR at the end of their original contract. The two-year average global fixed rate mortgage stands at 3.25% – the highest since November 2014 – Moneyfacts said.

The overall five-year fixed rate average stands at 3.37% and is the highest on record by Moneyfacts since June 2015. The two-year average tracking rate is 2.54%, the highest since September 2014 .

Moneyfacts averages take into account all deposit sizes. Eleanor Williams, finance expert at Moneyfacts, said the 0.12 percentage point spread between the average two- and five-year fixed rates is the smallest the website has seen since 2013.

She continued: “Average rates for those with higher equity or deposit levels have seen some of the largest increases, which may come as a surprise as products at this end of the LTV (loan-to-value) spectrum have traditionally been less expensive. , in part because of the lower risk of default they tend to pose to suppliers. »

]]> These 3 common retirement expenses are a nasty surprise for too many seniors https://hudsonberkshireexperience.com/these-3-common-retirement-expenses-are-a-nasty-surprise-for-too-many-seniors/ Sat, 18 Jun 2022 11:04:00 +0000 https://hudsonberkshireexperience.com/these-3-common-retirement-expenses-are-a-nasty-surprise-for-too-many-seniors/

RRetirement changes a lot, but our budget doesn’t always change as much as one might hope. While some people see their monthly expenses drop significantly after leaving the workforce, others don’t.

These three expenses in particular often catch seniors off guard. Take the time to review your retirement plan and make sure you have enough budget for them.

Image source: Getty Images.

1. Medical and dental expenses

Health care costs generally increase as a person ages. Most seniors have Medicare to help with some of their medical expenses, but you still owe premiums, deductibles, and copayments with that. Plus, there are many things Original Medicare doesn’t cover, including prescription drugs, dental care, and hearing aids.

Even if you do your best to stay healthy, you still need to budget a substantial amount for medical savings. A 65-year-old couple retiring in 2022 can expect to spend about $315,000 on healthcare, according to Fidelity. And some will spend a lot more.

Health savings accounts (HSAs) are great tools to help you save on medical expenses. Contributions to these accounts reduce your taxable income for the year, and the money you spend on medical expenses is tax exempt. You can contribute up to $3,650 to an HSA in 2022 if you have an individual health insurance plan with a deductible of $1,400 or more. Families can contribute up to $7,300 if their health insurance plan has a deductible of $2,800 or more. And adults 55 and older can add an additional $1,000 to those limits.

Also, you should consider your health insurance options. Some people choose to add a Medicare supplement plan or dental discount plan to their budget to help cover some of the expenses that Original Medicare does not cover.

2. Housing

Housing is the biggest expense for most people at all ages, and this is also true for many retirees. If you’re a renter or still have a mortgage, you’ll need to make regular monthly payments in retirement, so be sure to budget accordingly.

Even if you own your home, you will still have to pay property taxes and home insurance premiums every year. And you’ll likely have periodic expenses, like repair costs if something breaks in your home. So you still need some money set aside for housing.

If you wish, you can try to pay off your mortgage before retirement. Or you can wait until mortgage rates get low again and refinance for a more affordable monthly payment. You can also try downsizing. But before you do that, make sure it will actually save you money. If home prices have risen in your area since you first bought your home, or you’re planning to move to a more expensive area, buying a smaller home may not make you feel better. be not saving money.

3. Taxes

Unless you keep all of your retirement savings in Roth accounts, you will have to pay taxes in retirement. The amount depends on the amount you withdraw annually from your savings and from which account(s) it comes. And of course, if you work in retirement, you will also have to pay taxes on your salary.

Hiding money in a Roth account or doing a Roth IRA conversion can help lower your retirement tax bill. Beyond that, you need to estimate what tax bracket you will fall into and budget for it. Then, once you retire, watch where you fall in your tax bracket and try to avoid jumping to the next one whenever possible.

Don’t forget the required minimum distributions (RMDs). These are mandatory retirement account withdrawals that everyone must make from most retirement accounts once they reach age 72. There is an exception for Roth IRAs and for workplace retirement plans if you are still working at age 72. If you don’t take these withdrawals, you face hefty penalties, so be sure to take this into account and the effect it will have on your taxes.

Retirement will likely come with unforeseen expenses, even if you plan for the three things listed above. That’s why it’s a good idea to build a little cushion in your nest egg if you can. Otherwise, you can make a back-up plan, like going back to work part-time, if you notice you’re depleting your savings faster than expected.

The $18,984 Social Security premium that most retirees completely overlook
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The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Wall Street collapses on fears for the economy as rates rise | app https://hudsonberkshireexperience.com/wall-street-collapses-on-fears-for-the-economy-as-rates-rise-app/ Thu, 16 Jun 2022 20:19:33 +0000 https://hudsonberkshireexperience.com/wall-street-collapses-on-fears-for-the-economy-as-rates-rise-app/

NEW YORK (AP) — Stocks fell on Wall Street on Thursday as concerns returned to the forefront that the world’s fragile economy could collapse under higher interest rates.

The S&P 500 fell 3.3% in a broad-based rout to more than reverse its 1.5% rebound from the previous day. Analysts had warned of bigger swings given deep uncertainties over whether the Federal Reserve and other central banks can take the narrow path of raising interest rates enough to get inflation under control, but not to the point of triggering a recession.

The Dow Jones Industrial Average lost 2.4% and briefly fell more than 900 points, while the Nasdaq composite fell 4.1%. It was the S&P 500’s sixth loss in its last seven tests, and all but 3% of stocks in the index fell.

Wall Street fell along with stocks across Europe after central banks followed the Federal Reserve’s sharp interest rate hike on Wednesday. The Bank of England raised its key rate for the fifth time since December, although it opted for a more modest hike of 0.25 percentage points than the hammer of 0.75 points brought by the Fed.

The Swiss central bank, meanwhile, raised rates for the first time in years, a hike of half a point. Taiwan’s central bank raised its key rate by an eighth of a point. Japan’s central bank has begun a two-day meeting, though it has refrained from raising rates and other measures to slow the economy that investors are calling “hawkish.”

Such movements and expectations for many more have sent investment plummeting this year, from bonds to bitcoin. Higher interest rates purposely slow the economy, hoping to eradicate inflation. But they are blunt tools that can stifle the economy if used too aggressively.

“Another concern is that with the change in policy, the economic data has already weakened,” said Bill Northey, chief investment officer at US Bank Wealth Management. “This increases the chances of a recession in the latter part of 2022 to 2023.”

President Joe Biden told The Associated Press on Thursday that he sees reason to be optimistic about the economy and that a recession is “not inevitable.”

Worries sent the S&P 500 into a bear market earlier this week, meaning it had fallen more than 20% from its peak. It is now 23.6% below its record set at the start of this year and its level at the end of 2020. That effectively erases 2021, which has been one of the best years for Wall Street since the turn of the millennium.

The S&P 500 fell 123.22 points to 3,666.77. The Dow lost 741.46 to 29,927.07 and the Nasdaq fell 453.06 to 10,646.10. Thursday’s biggest losses hit shares of smaller companies, a sign of pessimism about the economy’s strength. The Russell 2000 Small Stock Index fell 81.30, or 4.7%, to 1,649.84.

Not only is the Federal Reserve raising short-term rates, but it also this month began allowing some of the trillions of dollars in bonds it bought during the pandemic to come off its balance sheet. This should put upward pressure on long-term interest rates. This is another way central banks have ripped off the supports they previously propped up under the markets to stimulate the economy.

The US economy is still resisting, driven in particular by a dynamic job market. Fewer workers applied for unemployment benefits last week than a week earlier, according to a report on Thursday. But other signs of trouble have emerged.

A report on Thursday showed homebuilders innovated on fewer homes in the past month. The rise in mortgage rates resulting directly from the Fed’s decisions is being felt in the industry. A separate reading on manufacturing in the Mid-Atlantic region also unexpectedly dropped.

“Corporate earnings estimates have yet to change to reflect some of the weaker economic data and that could lead to the second leg of this price revision,” Northey said.

Treasury yields swung sharply on Thursday, with the 10-year yield falling to 3.23% from 3.39% on Wednesday night. It had climbed to 3.48% in the morning, close to its highest level since 2011.

Higher rates have been hit the hardest this year for the investments that have soared the most thanks to the easy and ultra-low rates at the start of the pandemic, which now appear to be among the most expensive and riskiest investments. . This includes bitcoin and high-growth tech stocks.

Big Tech stocks were among the heaviest weights in the market on Thursday, but the steepest losses were in stocks whose earnings depend more on the strength of the economy and the ability of customers to keep buying amid the highest inflation in decades.

Cruise operators Norwegian Cruise Line Holdings, Royal Caribbean Group and Carnival all lost more than 11%.

It’s quite a sharp turnaround from the day before, when stocks rallied immediately after the Fed’s biggest rate hike since 1994. Analysts said investors appeared to be hanging on to a comment from the chairman of the Fed, Jerome Powell, who said mega-hikes of three-quarters of a percentage point would not be common.

Powell said on Wednesday the Fed was moving “quickly” to bring rates closer to normal levels after last week’s stunning report that showed consumer inflation unexpectedly accelerated last month, which dashed hopes that inflation had already peaked.

The Fed is “not trying to cause a recession now, let’s be clear about that,” Powell said. He called Wednesday’s surge “front-loading.”

“Despite their assurance, I don’t know if the Fed has the tools it claims it has to drive prices down,” said Jason Brady, CEO of Thornburg Investment Management. He also said that even after its mega hike on Wednesday, which was triple the usual amount, “the Fed is still behind.”


AP Business Writers Damian J. Troise and Yuri Kageyama contributed.

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Berkshire Hathaway HomeServices Elite, REALTORS® Partners with Berkshire Hathaway HomeServices Chicago https://hudsonberkshireexperience.com/berkshire-hathaway-homeservices-elite-realtors-partners-with-berkshire-hathaway-homeservices-chicago/ Wed, 15 Jun 2022 01:08:59 +0000 https://hudsonberkshireexperience.com/berkshire-hathaway-homeservices-elite-realtors-partners-with-berkshire-hathaway-homeservices-chicago/

Mark Pasquesi, President of Brokerage for Berkshire Hathaway HomeServices Chicago, is pleased to announce that Berkshire Hathaway HomeServices Elite, REALTORS® will partner with them in June. The company’s 12 agents, including Michele Nixon, Victoria Holmes, Cassandra Dunn, Jennifer Vonesh, Stephanie Merritt, Heather Bejda, Charity Kane, Tamara Schuster, David Samolej, Mary Blohm, Anntonette Williams and John Postlewaite will join the group of performing agents at the Chicago BHHS office in downtown Naperville. The office is located at 564 S. Washington Street, Suite 203.

Pasquesi said, “We are excited to unite BHHS Elite agents with our own to better serve Naperville and surrounding markets. the technology and resources offered by BHHS Chicago.”

Michele Nixon, Broker Manager of BHHS Elite, said, “We are thrilled to join BHHS Chicago, one of the top brokers in the Chicago area. As a result, my agents will be connected to more agents in more markets and this will translate into more opportunities for them. I know they will proudly embrace the Move Confidently anthem and use it to help their clients through their residential real estate journeys.

BHHS Chicago’s Naperville office is managed by Joe Stacy, senior vice president and general manager, with assistance from Yvonne Mortimer, chief operating officer. Michele Nixon will become the associate chief broker of the BHHS office in Chicago Naperville.

ABOUT BERKSHIRE HATHAWAY HOMESERVICES CHICAGO

The Naperville office is located at 564 S. Washington Street, Suite 203 and can be reached by calling 630.548.1800. Berkshire Hathaway HomeServices Chicago is a full-service real estate company with more than 1,400 real estate professionals and staff in 24 offices serving clients throughout the Chicago Metro Area, North Shore, West Shore and southwestern, southern Wisconsin, northwestern Indiana and Harbor Country, Michigan. Recognized as one of the best places to work in Chicago, their local roots are complemented by the vast global reach of Berkshire Hathaway HomeServices, one of the nation’s leading real estate brands. Clients can take advantage of all-inclusive homeownership services from their affiliates: Prosperity Home Mortgage, Fort Dearborn Title and HomeServices Insurance. Visit BHHSChicago.com.

]]> Markets plummet around the world, bear market rumbles on Wall Street | app https://hudsonberkshireexperience.com/markets-plummet-around-the-world-bear-market-rumbles-on-wall-street-app/ Mon, 13 Jun 2022 14:02:47 +0000 https://hudsonberkshireexperience.com/markets-plummet-around-the-world-bear-market-rumbles-on-wall-street-app/

NEW YORK (AP) — Wall Street tumbled even further on Monday, sending the S&P 500 down more than 20% from its all-time high, amid fears a recession is more likely given how far inflation has become unshakable.

The S&P 500 was down 2.7% in the first session after investors had the weekend to ponder a stunning report that showed inflation was getting worse, not improving as some had hoped. The Dow Jones Industrial Average was down 625 points, or 2%, at 30,767 as of 9:40 a.m. EST, and the Nasdaq composite was down 3%.

The center of attention on Wall Street was once again the Federal Reserve, which is struggling to control inflation. Its primary means of doing so is by raising interest rates to slow the overall economy, a blunt tool that risks causing a recession if used too aggressively.

Speculation is mounting that the Fed could raise its main short-term interest rate by three-quarters of a percentage point later this week. That’s triple the usual amount and something the Fed hasn’t done since 1994. Traders now see a 42% chance of such a mega hike, up from just 3% a week ago, according to CME Group.

No one thinks the Fed will stop there, with markets bracing for a continued streak of bigger-than-usual increases. That would come on top of some already discouraging signals about the economy and corporate earnings, including a record early reading on consumer sentiment that has been soured by high gasoline prices.

It’s quite a sharp turnaround from the start of the pandemic, when central banks around the world slashed rates to record lows and took other measures that supported stock prices in hopes of reigniting the economy. ‘economy.

These expectations are also driving US bond yields to their highest levels in years. The two-year Treasury yield climbed to 3.20% from 3.06% on Friday night, its second consecutive major move higher. It has more than quadrupled this year and reached its highest level since 2008.

The 10-year yield has risen from 3.15% to 3.27%, and the higher level will make mortgages and many other types of loans for households and businesses more expensive.

The spread between two-year and ten-year rates is also narrowing, a sign of increased pessimism in the bond market. If the two-year yield exceeds the 10-year yield, some investors see this as a sign of an impending recession.

The pain was global as investors braced for more aggressive moves from a coterie of central banks.

In Asia, the indices fell by at least 3% in Seoul, Tokyo and Hong Kong. Shares there were also hurt by concerns over COVID-19 infections in China, which could prompt authorities to resume tight restrictions that are slowing business.

In Europe, the German DAX lost 2.2% and the French CAC 40 fell 2.3%. The FTSE 100 in London fell 1.3%.

Some of the biggest hits have come from cryptocurrencies, which soared at the start of the pandemic when record high interest rates encouraged investors to bid for the riskiest investments. Bitcoin fell over 14% and fell below $23,400, according to Coindesk. It is back to where it was at the end of 2020 and down from a high of $68,990 at the end of last year.

On Wall Street, the S&P 500 was 20.9% below its record set at the start of the year. If it ends the day more than 20% of that level, it would officially enter what investors call a bear market.

The last bear market was not that long ago, in 2020, but it was exceptionally short and only lasted about a month.

It would also be the first bear market for many novice investors who got into stock trading for the first time after the pandemic, a time when stocks largely appeared to be going up. That is, they did so until inflation showed that it was worse than just a “transient” problem as originally portrayed.


AP Business Writer Elaine Kurtenbach contributed.

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

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2 Best Buffett Stocks to Buy and Hold for the Long Term https://hudsonberkshireexperience.com/2-best-buffett-stocks-to-buy-and-hold-for-the-long-term/ Sat, 11 Jun 2022 11:30:00 +0000 https://hudsonberkshireexperience.com/2-best-buffett-stocks-to-buy-and-hold-for-the-long-term/

OArren Buffett is one of the greatest investors of all time, and few savvy people would argue with that idea. Yet many investors don’t use the same value investing philosophy that Buffett employs at Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B). However, looking inside the company’s portfolio can reveal solid information that all investors can learn from.

Two companies that Buffett considers excellent long-term investments are Snowflake (NYSE: SNOW) and Visa (NYSE:V). These two companies are incredibly different but have strong tailwinds blowing in their favor.

Image source: The Motley Fool.

Snowflake

Snowflake is the exact opposite of a stock you’d think Buffett would invest in; it is a fast-growing technology player in the data cloud space. Snowflake enables its customers to store, query, share and use the data it generates to make business decisions and power models. Because it can combine structured, semi-structured, and unstructured data from multiple cloud providers and sources, its customers can spread their data across multiple cloud providers, so they aren’t locked into unreasonable contracts from from a single source.

Another selling point is its pay-as-you-go pricing model that allows customers to only pay for the storage they need and when they want to run different analyzes on their data. While this can be risky during an economic downturn, it pays off hugely right now. In the first quarter of its fiscal year 2023 (ending April 30), Snowflake’s net retention rate was an incredible 174%.

This metric means that existing customers spent $1.74 for every $1.00 last year. Product revenue increased 84% year-over-year (YOY) to $394 million; however, the company recorded an operating profit loss of $188 million. This loss was primarily due to a $143 million stock-based compensation bill, a non-cash expense for Snowflake.

For the second quarter, management expects product revenue to grow 72% year-on-year at the midpoint and 66% for the full year. However, at this point in Snowflake’s life, it’s hard to demand profit, as the company is spending quickly to capture as much of the $90 billion in data platform market opportunity as possible.

The stock is still highly valued at 28 times sales, but that valuation is much more reasonable than the 100 times sales it traded for last November. With the stock having fallen around 45% from its all-time high, it is trading around its initial public offering (IPO) price (not the price at which it first traded, around 240 $). Buffett bought his initial stake for around $120; now you have the option to buy the stock for around $130 from nearly $400 six months ago.

Visa

Visa is more of a stock than you would expect Buffett to own. It’s practically a silver pipeline that processed $2.8 trillion in payments during Q2 alone (ending March 31). Visa makes its money by taking a cut of every payment it processes. However, it makes the most money on cross-border transactions because it charges a premium for currency exchange.

Over the past two years, the COVID-19 pandemic has halted virtually all international travel. Now that countries are opening their borders and people are traveling again, Visa is taking advantage.

During the second quarter, Visa’s revenue grew 25% year-over-year, with its non-GAAP earnings per share (excluding one-time impacts in the last year quarter) increasing 30% to 1.79 usd. In addition, cross-border volume, excluding intra-Europe, is up 47%, demonstrating the openness of the world.

However, Visa is experiencing headwinds due to Russia’s actions in Ukraine. As a result, the company has suspended operations there, which accounted for about 4% of its net revenue in 2021 and 2022. While Visa will take a hit from this loss, its current growth rate more than offsets this drop in revenue.

Visa is currently trading for around 34 times earnings, slightly more than it has historically traded.

Table of V PE ratios
Data by YCharts. PE Ratio = Price to Earnings Ratio.

This valuation poses a slight risk for buying Visa shares now; however, the business still has plenty of wiggle room now that the company has moved away from cash. It is also still recovering from the volume of cross-border payments lost due to the pandemic. With plenty of growth for Visa, this Buffett stock is a great buy alongside Snowflake’s rapid growth.

Both of these companies have solid growth prospects and investors can buy them well above their all-time highs. Buffett believes in both of these, and I think you should too.

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Keithen Drury holds positions at Snowflake Inc. and Visa. The Motley Fool holds positions and recommends Berkshire Hathaway (B shares), Snowflake Inc. and Visa. The Motley Fool recommends the following options: $200 long calls in January 2023 on Berkshire Hathaway (B shares), $200 short puts in January 2023 on Berkshire Hathaway (B shares) and short calls of $265 in January 2023 on Berkshire Hathaway (B shares). The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Berkshire Hills Bancorp, Inc. (NYSE: BHLB) Expected to Post Quarterly Sales of $96.00 Million https://hudsonberkshireexperience.com/berkshire-hills-bancorp-inc-nyse-bhlb-expected-to-post-quarterly-sales-of-96-00-million/ Fri, 10 Jun 2022 05:26:47 +0000 https://hudsonberkshireexperience.com/berkshire-hills-bancorp-inc-nyse-bhlb-expected-to-post-quarterly-sales-of-96-00-million/

Wall Street analysts expect Berkshire Hills Bancorp, Inc. (NYSE:BHLB – Get Rating) to report sales of $96.00 million for the current quarter, according to Zacks. Two analysts have made earnings estimates for Berkshire Hills Bancorp. The highest sales estimate is $97.10 million and the lowest is $94.90 million. Berkshire Hills Bancorp reported sales of $97.40 million in the same quarter last year, suggesting a negative 1.4% year-over-year growth rate. The company is expected to announce its next quarterly earnings report on Monday, January 1.

On average, analysts expect Berkshire Hills Bancorp to report revenue of $388.85 million for the current fiscal year, with estimates ranging from $383.10 to $394.60 million. For the next fiscal year, analysts expect the company to record sales of $417.75 million, with estimates ranging from $398.00 to $437.50 million. Zacks Investment Research’s sell calculations are an average based on a survey of sell-side analysts who provide coverage for Berkshire Hills Bancorp.

Berkshire Hills Bancorp (NYSE:BHLB – Get Rating) last reported quarterly results on Wednesday, April 20. The savings and loan company reported earnings per share of $0.42 for the quarter, beating the consensus estimate of $0.40 by $0.02. Berkshire Hills Bancorp had a return on equity of 7.67% and a net margin of 27.75%. During the same period last year, the company posted earnings per share of $0.32.

BHLB has been the subject of several recent analyst reports. StockNews.com launched coverage on Berkshire Hills Bancorp in a research note on Thursday, March 31. They issued a “holding” rating for the company. Zacks Investment Research upgraded Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a price target of $29.00 on the stock in a Friday May 27 report. Compass Point upgraded Berkshire Hills Bancorp from a “neutral” rating to a “sell” rating and lowered its price target for the stock from $29.00 to $23.00 in a Thursday, April 21 report. Finally, TheStreet upgraded Berkshire Hills Bancorp from a “b-” rating to a “c” rating in a Thursday, May 12 report. One financial analyst has assigned the stock a sell rating, three have assigned a hold rating and three have assigned the stock a buy rating. According to MarketBeat.com, Berkshire Hills Bancorp currently has a consensus rating of “Hold” and an average price target of $29.00.

Berkshire Hills Bancorp shares opened at $25.41 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt ratio of 0.10. Berkshire Hills Bancorp has a 12-month low of $23.15 and a 12-month high of $31.78. The company has a 50-day moving average price of $26.31 and a 200-day moving average price of $28.34. The company has a market capitalization of $1.22 billion, a PE ratio of 9.85 and a beta of 1.07.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 26. Shareholders of record on Thursday, May 12 received a dividend of $0.12 per share. This represents an annualized dividend of $0.48 and a dividend yield of 1.89%. The ex-dividend date was Wednesday, May 11. Berkshire Hills Bancorp’s dividend payout ratio is currently 18.60%.

In other news, director Michael Zaitzeff sold 1,274,279 shares of the company in a trade that took place on Monday, May 16. The stock was sold at an average price of $24.70, for a total transaction of $31,474,691.30. The sale was disclosed in a legal filing with the SEC, accessible via this link. Insiders own 0.90% of the shares of the company.

Institutional investors and hedge funds have recently increased or reduced their stakes in the stock. Trust Co. of Vermont acquired a new position in Berkshire Hills Bancorp in the fourth quarter valued at approximately $128,000. Ironwood Investment Management LLC increased its stake in Berkshire Hills Bancorp by 2.5% in the fourth quarter. Ironwood Investment Management LLC now owns 16,956 shares of the savings and loan company valued at $482,000 after acquiring 411 additional shares in the last quarter. Journey Strategic Wealth LLC acquired a new stake in Berkshire Hills Bancorp in the fourth quarter worth approximately $210,000. Two Sigma Investments LP acquired a new stake in Berkshire Hills Bancorp in the third quarter worth approximately $2,220,000. Finally, Quantedge Capital Pte Ltd acquired a new stake in Berkshire Hills Bancorp in the fourth quarter worth approximately $500,000. Hedge funds and other institutional investors hold 82.24% of the company’s shares.

About Berkshire Hills Bancorp (Get a rating)

Berkshire Hills Bancorp, Inc operates as a banking holding company for Berkshire Bank which provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, term deposit certificates and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer and residential loans.

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Stocks open lower as choppy trading persists on Wall Street | app https://hudsonberkshireexperience.com/stocks-open-lower-as-choppy-trading-persists-on-wall-street-app/ Wed, 08 Jun 2022 13:49:35 +0000 https://hudsonberkshireexperience.com/stocks-open-lower-as-choppy-trading-persists-on-wall-street-app/

NEW YORK (AP) — Stocks fell slightly in morning trading on Wall Street on Wednesday and trading remained choppy as investors grapple with the impact of rising interest rates and inflation on the economy.

The S&P 500 fell 0.2% at 10:22 a.m. Eastern. The Dow Jones Industrial Average fell 119 points, or 0.4%, to 33,067 and the Nasdaq rose 0.2%.

Banks and industrial companies were among the largest weights in the broader market. Wells Fargo fell 1.5% and Union Pacific 3.3%. Tech stocks also fell. Intel lost 4.5%.

Bond yields have risen. The yield on the 10-year Treasury, which banks use to set rates on mortgages and other loans, rose to 3.02% from 2.97% on Tuesday evening.

European indices were down and Asian markets closed mostly higher overnight.

It’s been a turbulent week for the major indices, which have oscillated between gains and losses, sometimes hour by hour. The benchmark S&P 500 index finally closed higher every day this week, putting it on track for weekly gains. It has posted losses for the past eight out of nine weeks.

Big worries on Wall Street remain rising inflation and whether the Federal Reserve’s decision to aggressively raise interest rates will help soften the impact or possibly push the economy into a recession. .

Inflation continues to weigh on businesses. Lawn care products company Scotts Miracle-Gro fell 7.7% after it cut its profit forecast for the year because retailers are not restocking orders as expected. Retailers have warned that inflation is dampening sales as consumers shift to spending on services or focusing on necessities rather than buying otherwise discretionary items, like electronics.

The impact of inflation has only been aggravated by Russia’s invasion of Ukraine, which has added pressure on energy and food prices since February. U.S. crude oil prices were relatively flat on Wednesday, but rose 59% on the year, while wheat prices rose 39% in 2022. Supply chains also tightened following a a series of shutdowns for Chinese cities battling COVID-19 cases.

These two problems have prompted the Organization for Economic Co-operation and Development to revise its economic growth forecasts downwards, following several other international groups, including the World Bank, which expect inflation to have a lingering impact on economies around the world.

Treasury Secretary Janet Yellen, testifying before the Senate Finance Committee on Tuesday, said she expects inflation to remain high and be a top priority. The Fed is widely expected to raise its main short-term interest rate by half a percentage point at its meeting next week. It would be the second consecutive increase of double the usual amount, and investors are expecting a third in July.

The next big inflation update comes on Friday, when the US government releases its latest reading on the Consumer Price Index.

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

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Osun Zotique wants to be the first trans member of Congress https://hudsonberkshireexperience.com/osun-zotique-wants-to-be-the-first-trans-member-of-congress/ Mon, 06 Jun 2022 18:30:17 +0000 https://hudsonberkshireexperience.com/osun-zotique-wants-to-be-the-first-trans-member-of-congress/ They were already teaching yoga at Hudson and working on a doctorate. in education at the State University of New York at Buffalo when in December they took over as executive director of OutHudson, a nonprofit that advocates for LGBTQ people in Columbia County.

The job came after Zotique met with the organization’s former leaders and realized, “God bless them, they’re exhausted.” Fearing that their exhaustion meant OutHudson, now in her 13th year, would “get by the wayside,” Zotique offered to help. “We still need pride in 2022 and they were happy to pass the sparkle baton to me,” they said.

Beyond hosting Pride commemorations each June, OutHudson’s work spans the entire year. “Our mission is to expand the visibility and well-being of LGBTQ and allied people in Columbia County,” Zotique said. This includes a scholarship fund for a high school graduate, which Zotique intends to expand through a new fundraising campaign.

Then came May.

As plans took shape for OutHudson’s first Pride celebrations after two years of the pandemic, Zotique once again felt the call to community service, this time to run for Congress in the newly redesigned 19th Precinct. Currently, they are collecting signatures to be on the August 23 ballot.

Zotique proudly notes that, to their knowledge, they are the first openly transgender, non-binary candidate for federal office in the United States. There are a growing number of transgender and non-binary candidates running for public office, but, according to Out for America, while there are 11 openly gay, lesbian or bisexual members of Congress, there are currently no no transgender members. The organization does not track candidates who lost their elections.

“Everyone says I came out of the womb holding a cup of coffee,” Zotique said. “I wear a lot of hats.”

They couldn’t help but throw their hats into the congressional ring when a proposed Supreme Court opinion that would overturn Roe v. Wade leaked. “It was a pivotal national moment that inspired me to run for office. I was content to teach yoga and lead OutHudson until that happened. Gender equality covers women and all genders. gender identities and sexual orientations. An attack on women’s rights is an attack on gay rights. I said, no way, José.

Zotique had an opening: U.S. Representative Antonio Delgado, a “fellow Latinx musician,” had left his seat in Congress to become lieutenant governor. “We needed someone who would be a charismatic and transformative leader to help move the essence of what the Hudson Valley is all about.”

For Zotique, that means making sure the candidates aren’t just white men like Dutchess County Executive Marc Molinaro and Ulster County Executive Pat Ryan, the two candidates running in the special election. to see the rest of Delgado’s tenure. Zotique says it is “leadership deficient” if a wide variety of voters cannot see themselves in government officials. So they stepped up.

If Zotique collects the necessary signatures by the June 10 nomination deadline, they will likely face two other Democrats: Jamie Cheney (“a cis, white, heterosexual woman and business owner from Rhinebeck”) and Josh Riley (“a cisgender, white, married, fifth-generation male from Ithaca”).

Zotique, who first came to the Hudson Valley from New York to serve as music director at Berkshire Country Day School, has lived in the Hudson area for seven years. Their congressional platform covers several categories: economy, education, welfare, land, reproductive health and history.

“I am committed to helping Upstate New York shine as a post-industrial workforce leader in the global digital economy, and to championing affordable housing and quality of life. as we face a massive influx of new residents who are telecommuting and increasing property values,” they said. “We must thrive together.”

Another concern for Zotique: voter confusion at the polls in August. The Aug. 23 ballot puts both the special election and the midterm congressional primaries ahead of voters.

“I’m afraid this whole situation will play a lot in Molinaro’s favor,” Zotique said. “It reminds me of a 2024 race against Molinaro – that’s my fear.”

This is not Zotique’s first attempt at elected office. They also ran, at the last minute and unsuccessfully, for a seat on the Hudson School Board in 2022.


“I joke that they’re the reincarnation of the Energizer Bunny,” said fellow Hudson activist Sherry Jo Williams, who judged the tanks at the 2022 OutHudson Pride Parade. a huge fan and admirer of their intellect and dedication to the community. They seem to understand the needs of large and small communities. »

Williams met Zotique some “pre-panoramic” years while walking down Warren Street, where she had a gallery. “I saw a very cute human with pigtails and a tie-dye shirt,” she said, so she approached them. They chatted, exchanged numbers, had coffee and became friends. Zotique’s drive was always clear. They wanted to meet the “Hudson movers and shakers”, and Warren was happy to help.

“From the first time I met them, there was a kind of radical authenticity that struck me in a very positive way. Bravery, courage, lots of compassion,” Williams said. They also bonded when coming from the South. Zotique says they grew up in a “non-accepting family” in Georgia.

Even a brief conversation with Zotique brings up some very diverse opinions, big and small. National sex education is ‘catastrophic’… people should apply for more mortgages under the Rural Development Lands Act 1949… The legal rights of indigenous entrepreneurs are being undermined in a capitalist economy. They want to get government out of wombs, save the Hudson River from toxic chemicals, and educate ordinary people about how wealthy people take advantage of community investment opportunities, so they can do the same.

Zotique shares these insights quickly but calmly, and usually while wearing a “limited edition necklace” from Ruth Bader Ginsburg’s collection. Zotique says it was part of a bag of Banana Republic swag. “She wore it often. I wear it every day until we restore our reproductive rights in this country.

Meanwhile, Zotique is hoping a notable figure like “AOC or Bernie” will take notice of their campaign. “That’s the missing ingredient at this point to push us over the top in terms of attention.”

If that should happen, they are ready. “I bring sage cases to Capitol Hill,” they said, referring to the spiritual ritual of burning grass to cleanse a space and usher in healing. “Congress is one of the least popular elected bodies in recorded history. He is ripe for transformation.



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