Michael Burry has turned from water to wine. The star of “The Big Short,” who made waves for investing in water after calling the collapse of the mid-2000s US housing bubble, explained why he’s betting on fine wines in a Substack post on Thursday. Burry, who pivoted from running a hedge fund to writing about
Severe backlogs could leave over a dozen US Navy attack submarines awaiting decommissioning sitting idle for more than 14,000 days through the end of the decade, and cost the sea service over $3 billion, according to a new watchdog report. Navy maintenance delays have already cost the sea service billions of dollars and sidelined active
Steve Hanke earned the moniker “Money Doctor” after advising governments across the globe on how to use currencies to get inflation under control. The professor of applied economics at Johns Hopkins University is now helping Venezuela and has been named a special advisor to the country’s National Assembly. He told Fortune’s Shawn Tully that his
A fresh wave of US tariffs on a wide array of Canadian goods has come into effect as of midnight on Saturday after a last minute break down in trade talks. Announcing the suspension of negotiations shortly before the Friday night deadline, Canadian Prime Minister Mark Carney said he would impose reciprocal tariffs on US
The dollar could eventually lose its status as the world’s reserve currency if the US fails to maintain its economic and military dominance, JPMorgan Chase CEO Jamie Dimon said. “If we’re not the strongest military in 25 years and the strongest economy, we won’t be the reserve currency either,” Dimon said on PBS’ “Firing Line
Last week’s attempt to boost the sagging yen wasn’t the first time the U.S. and Japan took such joint action, but the way they did it revealed weakness in the dollar’s global status, according to a top currency expert. In a Financial Times op-ed on Tuesday, University of California at Berkeley economist Barry Eichengreen pointed
