Republican presidential nominee, former U.S. President Donald Trump welcomes Robert F. Kennedy Jr. to the stage at a Turning Point Action campaign rally at the Gas South Arena on October 23, 2024 in Duluth, Georgia.
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My top 10 things to watch Friday, Nov. 15
1. President-elect Donald Trump’s decision to nominate prominent vaccine skeptic Robert F. Kennedy Jr. to lead the Department of Health and Human Services has vast implications for drug companies. That’s why shares of pharma stocks, and vaccine makers in particular, sold off late Thursday when reports of the pick first surfaced. We own Eli Lilly for the Club.
2. Warren Buffett’s Berkshire Hathaway sold most of its stake in Ulta Beauty in the third quarter after only building its position in the second quarter, regulatory filings show. Did Buffett ever know about the Ulta stake beyond the cursory? Not clear. He never spoke to management. Worth noting: Buffett has two investing lieutenants, Ted Weschler and Todd Combs, who control some money.
3. On the other hand, Berkshire built a stake in Domino’s Pizza in the quarter, sending shares of the chain higher Friday. Should you buy Domino’s off of Berkshire’s move? Maybe buy Domino’s off of CEO Russell Weiner. We don’t know how involved Buffett is anymore. Is he titular on these investments?
