Many of the market's bluest blue chip stocks have been shining bright in recent weeks, with some surging to new all-time highs while the rest of the market falls short. Notably, the S&P 500 is off more than 1% from its high, while the tech stock-heavy Nasdaq 100 is still down just shy of 7% from its peak. Undoubtedly, the market has come roaring back in what feels like record time since the market bottomed out earlier this month.
With a much-anticipated Fed rate cut just weeks away, perhaps some of the more debt-laden, less-than-profitable technological innovators may regain traction again. Either way, I'm sticking with the blue chips, as the market waters can certainly get a whole lot rougher from here.
Berkshire Hathaway earned its spot as the newest member of the $1 trillion market cap club this week as its stock blasted past $468 per share. What's most respectable about Berkshire's $1 trillion market cap is that it achieved it using the same strategy it always has. You see, Berkshire is all about investing for the long term and slowly but steadily building value for its most dedicated shareholder base.
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