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Warren Buffett has attracted a lot of attention this year thanks to some very big high-profile stock sales. The Oracle of Omaha has sold a total of $133 billion worth of equities from Berkshire Hathaway's portfolio through the first nine months of 2024. Some of the biggest sales include Apple (NASDAQ: AAPL) , of which he sold more than two-thirds of Berkshire's stake, and Bank of America (NYSE: BAC) . Despite the sales, Berkshire still holds $300 billion in stock, but only a handful of companies are safe from getting a trim these days, it seems. Many see Buffett's massive stock sales as a big warning for investors that the stock market is overpriced and investors should reduce their exposure to equities. Indeed, Buffett's Apple and Bank of America sales suggest he thinks both stocks currently trade near or above their intrinsic values . Investors will be hard-pressed to earn solid returns buying stocks above their actual value, so it may be smart to trim positions like Apple or Bank of America. But Buffett doesn't think every stock is overpriced right now. It's just that he faces a unique challenge as someone in charge of managing $600 billion in assets when you include Berkshire's cash and Treasury bill positions. His stock purchases this year tell the whole story. This small $550 million purchase speaks volumes Berkshire's biggest equity purchase during the third quarter was about $550 million worth of Domino's Pizza ( DPZ -1.25% ) . Yes, it pales in comparison to the $36 billion Buffett and his team sold in other stocks during the quarter, and the purchase accounts for just 0.2% of the entire equity portfolio. But the purchase accounts for 3.7% of the entire pizza purveyor. Domino's may be a great stock to buy. Its fortressing strategy has enabled it to grow its market share around the world. It's showing strong profitability at the store level even as it cannibalizes itself by opening new locations near existing ones. It's producing strong operating margin expansion and is returning capital to shareholders. These are all signs of a great company. Buffett's challenge is that Domino's market cap is currently less than $16 billion as of this writing. He could buy 20 companies the size of Domino's Pizza with Berkshire's cash pile if the market would let him. He has run into similar problems with other stocks he found attractive in 2024: Ulta Beauty has a market cap of about $17 billion, Sirius XM has a market cap of about $9 billion, Pool Corp has a market cap around $14 billion, and Heico has a market cap of $32 billion. The market constrains how much of those stocks Buffett can actually buy. He explained the challenge facing Berkshire in his letter to shareholders in February: In other words, the big companies where Buffett could invest tens of billions of dollars aren't very attractive right now -- at least not according to the consummate value investor, Warren Buffett. Bank of America's stock price has climbed to about 1.8 times its tangible book value , which might be more expensive than Buffett likes. (He notably stopped buying back Berkshire shares as the price floated above 1.6 times book value.) Apple shares currently trade for nearly 32 times forward earnings, far higher than the multiple Buffett originally paid while accumulating shares between 2016 and 2018, when shares consistently traded well below 20 times earnings. But the smaller companies like Domino's Pizza appear far more attractive. The restaurant's forward price-to-earnings ratio (P/E) of 27 is still somewhat expensive, but it compares favorably to other fast-growing quick-service restaurants. And while Buffett can only invest so much without significantly moving the market, an individual investor should have no problem buying as much as they like for their portfolio. The bigger takeaway for investors Buffett's decision to buy Domino's last quarter doesn't necessarily mean investors should follow his lead precisely. In fact, it may indicate that he feels there are a lot more opportunities in the stock market than Berkshire can actually take advantage of due to its size. Domino's is a relatively small company for Berkshire to invest in, but it's still one of the members of the large-cap S&P 500 index. In other words, in the grand universe of the stock market, Domino's is bigger than roughly 80% of investable companies in the U.S. alone. Considering it's one of the smallest options Buffett could consider, that means there may be a whole lot of other opportunities in the mid- and small-cap markets. Indeed, stock valuations suggest Buffett would be much happier if he could invest more in companies with market caps less than Domino's. The S&P 500 trades for a forward P/E of 22.1 as of Dec. 2. If you get rid of the "Magnificent Seven," the large-cap stocks look somewhat more attractive at a forward P/E of 19.5. Still, the mid-cap S&P 400 and the small-cap S&P 600 each trade for just 17.1 times forward earnings. That gap was even wider just a few months ago. Thus, the big message Buffett is sending to investors is to consider smaller companies. That could mean taking a closer look at individual stocks like Domino's Pizza, but it could be as simple as buying an index fund or exchange-traded fund (ETF). Vanguard offers the Vanguard Extended Market ETF ( VXF 0.53% ) , which tracks the performance of virtually all stocks except those in the S&P 500. With an expense ratio of just 0.06%, it can be an inexpensive way to add exposure to smaller companies. Another great option for those looking to focus on value stocks is the Avantis U.S. Small-Cap Value ETF ( AVUV -0.54% ) . It's technically an actively managed ETF, but it uses simple valuation and profitability filters to take the universe of small-cap value stocks and weed out potential value traps . It then invests in the remaining stocks, weighting each based on market cap. The results of the fund (and its predecessor at Dimension Funds) have been well worth the 0.25% expense ratio thus far. Whether you want individual stocks or ETFs, Buffett's buying decisions suggest there's a lot more upside for investors in smaller companies. They would be wise to listen to the message he's sending.what is roulette game 。

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Pandas An An and Ke Ke celebrate their 1st Christmas in Hong Kong HONG KONG (AP) — A pair of five-year-old pandas, named An An and Ke Ke, celebrated their first Christmas early in a Hong Kong park, munching on special treats and looking cute for the cameras. An An, the male panda, was presented with an ice slab that had “Merry Christmas” written on it with sweet potato and carrots while Ke Ke, his female companion, got a snowman garnished with slices of carrot and apple in a special press event Monday before visitors streamed to the park. China sent the pair to Hong Kong in late September in a bid to boost tourism in the city. Mickey, Minnie, Goofy and Wemby: Spurs-Knicks Christmas game is also an animated one at Disney World NEW YORK (AP) — There’s a Christmas Day basketball game at Walt Disney World, featuring Mickey, Minnie, Goofy and Wemby. While Victor Wembanyama and the San Antonio Spurs are facing the New York Knicks at Madison Square Garden, an alternate animated telecast will have the teams playing in the Magic Kingdom, with some Disney characters participating. The special alt-cast, the first animated presentation of an NBA game, will be shown on ESPN2 and also stream on Disney+ and ESPN+. 'Squid Game' returns looking for win with season 2 The first season of “Squid Game” was Netflix's most-watched series and went on to win a variety of accolades including the Emmy Award for lead actor in a drama series for Lee Jung-jae and a directing award for Hwang Dong-hyuk. The show returns for its second season on Dec. 26 and is already nominated for a Golden Globe for best drama. It's rare for TV shows made in Korea to have more than one season but Lee describes Hwang as “a genius.” A third and final season has already filmed. Netflix is also invested in expanding its “Squid Game” universe with a reality competition series and an English-language version in development. In the ruins of a bombed-out church in Lebanon, there's now a tiny Christmas tree DARDGHAYA, Lebanon (AP) — A Christmas tree stands among the fallen stones in the ruins of a Catholic church in southern Lebanon that was hit by an Israeli airstrike during the war with Hezbollah. It's a small and modest tree. There are no lights because the war destroyed power lines. The ground is too uneven to set up the Nativity scene. The priest says his blood pressure went up and he lost his balance when he saw the church's destruction. Now he leads Mass in an underground room that serves as a temporary worship space. He tells the community it “is more like the cave where Jesus was born.” Burt, the huge Australian crocodile who had a cameo in ‘Crocodile Dundee,’ dies at 90 The Crocosaurus Cove reptile aquarium in Darwin, Australia, says the huge crocodile that rose to fame with a cameo in the movie “Crocodile Dundee” has died. The aquarium says Burt died over the weekend and was at least 90 years old. A saltwater crocodile, Burt was estimated to be more than 5 meters long. The 1986 movie stars Paul Hogan as the rugged crocodile hunter Mick Dundee. In the movie, American Sue Charlton, played by actress Linda Kozlowski, goes to fill her canteen in a watering hole when she is attacked by a crocodile, before being saved by Dundee. Elaborate holiday light displays are making spirits bright in a big way CONCORD, N.H. (AP) — Tiny tots with their eyes all aglow might be enough to brighten some homes this holiday season. But others are adorned with thousands of blinking lights synched to blasting music. In Mesa, Arizona, 14 homeowners have been going all-out on holiday lights for 30 years, and those buying homes in the neighborhood often find the attics full of décor left behind by previous owners. In Santa Clarita, California, residents began coordinating their holiday lights to bring some joy to their community after an earthquake. And in Edmond, Oklahoma, those looking to the western sky will easily spot the Miranda family’s elaborate display featuring images and music from the movie “Wicked.” Santa braves the sticky heat of the Amazon jungle to bring gifts to children in Brazilian village CATALAO, Brazil (AP) — Santa Claus has braved the sticky heat of the Amazon rainforest this weekend, taking two boats to bring gifts to the children of a small village near the Brazilian city of Manaus. The visit was arranged by Amigos do Papai Noel, a Brazilian charity that has been taking gifts to children in the Amazon rainforest for the past 26 years. More than 600 children from different villages gathered in Catalao to receive presents from Santa, who dressed in his traditional nightcap, white gloves and red suit, while enduring the stifling jungle heat. NASA's Parker Solar Probe aims to fly closer to the sun like never before NEW YORK (AP) — A NASA spacecraft is about to make the closest approach to the sun. The Parker Solar Probe was launched in 2018 to get a close-up look at the sun. On Tuesday, Parker will pass within a record-breaking 3.8 million miles of the sun’s surface. That's nearly seven times closer to the sun than previous spacecraft. Scientists won’t hear from Parker until a few days after the flyby. It’ll continue circling the sun at this distance until at least September. Scientists hope to better understand what drives the solar wind and why the corona is so much hotter than the sun's surface. 174 Colorado skiers and snowboarders rescued after a lift cracks WINTER PARK, Colo. (AP) — Officials are investigating what caused a crack in a Colorado ski lift that forced the evacuation of over 170 stranded skiers and snowboarders. The evacuation happened Saturday on a gondola lift at Winter Park Resort. A spokesperson says the lift stopped automatically when a crack was detected in a structural piece of the lift. Passengers were lowered down by ropes over the course of about five hours. No injuries were reported during the rescues, which came at the start of the busy holiday season. 'Sonic 3' bests 'Mufasa: The Lion King' at the box office NEW YORK (AP) — In the holiday season battle of big-budget family movies, Paramount Pictures’ “Sonic the Hedgehog 3” sped past the Walt Disney Co.’s “Mufasa: The Lion King” to take the top spot at the box office. The results came just ahead of the lucrative Christmas corridor in theaters. According to studio estimates, “Sonic the Hedgehog 3” debuted with $62 million in ticket sales over the weekend. “Mufasa,” however, was humbled in its opening weekend, coming in notably shy of expectations. It returned just $35 million in domestic ticket sales.The sight was a common one for Andrew Kolpacki. For many a Sunday, he would watch NFL games on TV and see quarterbacks putting their hands on their helmets, desperately trying to hear the play call from the sideline or booth as tens of thousands of fans screamed at the tops of their lungs. When the NCAA’s playing rules oversight committee this past spring approved the use of coach-to-player helmet communications in games for the 2024 season, Kolpacki, Michigan State’s head football equipment manager, knew the Spartans’ QBs and linebackers were going to have a problem. “There had to be some sort of solution,” he said. As it turns out, there was. And it was right across the street. Kolpacki reached out to Tamara Reid Bush, a mechanical engineering professor who not only heads the school’s Biomechanical Design Research Laboratory but also is a football season ticket-holder. Kolpacki “showed me some photos and said that other teams had just put duct tape inside the (earhole), and he asked me, ‘Do you think we can do anything better than duct tape,?” Bush said. “And I said, ‘Oh, absolutely.’” Bush and Rylie DuBois, a sophomore biosystems engineering major and undergraduate research assistant at the lab, set out to produce earhole inserts made from polylactic acid, a bio-based plastic, using a 3D printer. Part of the challenge was accounting for the earhole sizes and shapes that vary depending on helmet style. Once the season got underway with a Friday night home game against Florida Atlantic on Aug. 30, the helmets of starting quarterback Aidan Chiles and linebacker Jordan Turner were outfitted with the inserts, which helped mitigate crowd noise. DuBois attended the game, sitting in the student section. “I felt such a strong sense of accomplishment and pride,” DuBois said. “And I told all my friends around me about how I designed what they were wearing on the field.” All told, Bush and DuBois have produced around 180 sets of the inserts, a number that grew in part due to the variety of helmet designs and colors that are available to be worn by Spartan players any given Saturday. Plus, the engineering folks have been fine-tuning their design throughout the season. Dozens of Bowl Subdivision programs are doing something similar. In many cases, they’re getting 3D-printed earhole covers from XO Armor Technologies, which provides on-site, on-demand 3D printing of athletic wearables. The Auburn, Alabama-based company has donated its version of the earhole covers to the equipment managers of programs ranging from Georgia and Clemson to Boise State and Arizona State in the hope the schools would consider doing business with XO Armor in the future, said Jeff Klosterman, vice president of business development. XO Armor first was approached by the Houston Texans at the end of last season about creating something to assist quarterback C.J. Stroud in better hearing play calls delivered to his helmet during road games. XO Armor worked on a solution and had completed one when it received another inquiry: Ohio State, which had heard Michigan State was moving forward with helmet inserts, wondered if XO Armor had anything in the works. “We kind of just did this as a one-off favor to the Texans and honestly didn’t forecast it becoming our viral moment in college football,” Klosterman said. “We’ve now got about 60 teams across college football and the NFL wearing our sound-deadening earhole covers every weekend.” The rules state that only one player for each team is permitted to be in communication with coaches while on the field. For the Spartans, it’s typically Chiles on offense and Turner on defense. Turner prefers to have an insert in both earholes, but Chiles has asked that the insert be used in only one on his helmet. Chiles “likes to be able to feel like he has some sort of outward exposure,” Kolpacki said. Exposure is something the sophomore signal-caller from Long Beach, California, had in away games against Michigan and Oregon this season. Michigan Stadium welcomed 110,000-plus fans for the Oct. 26 matchup between the in-state rivals. And while just under 60,000 packed Autzen Stadium in Eugene, Oregon, for the Ducks' 31-10 win over Michigan State three weeks earlier, it was plenty loud. “The Big Ten has some pretty impressive venues,” Kolpacki said. “It can be just deafening,” he said. “That's what those fans are there for is to create havoc and make it difficult for coaches to get a play call off.” Something that is a bit easier to handle, thanks to Bush and her team. She called the inserts a “win-win-win" for everyone. “It’s exciting for me to work with athletics and the football team," she said. "I think it’s really exciting for our students as well to take what they’ve learned and develop and design something and see it being used and executed.”

‘I’ve always been a team player’: Ben Carroll on the VCE exam crisis and what drives himA LUCKY Walmart shopper has unknowingly bagged a staggering jackpot of $139 million but they must take action soon. The Powerball jackpot was scooped months ago but the winner has still not come forward. For over five months, someone has unknowingly been a multi-millionaire. The huge windfall was won on July 3 after the ticket matched all five numbers and the Powerball. But, all that is known about the winner is that they shop at Walmart and are from Ohio. The winning ticket was bought at a Walmart store in Huber Heights, near Dayton, lotto officials revealed. read more on lottery wins It carries the numbers: 02, 26, 33, 55, 57 and the red Powerball 22. So, if you shop at that Walmart store and play Powerball, you should start searching all of your old purses and coat pockets in case you have the winning ticket. The $139.3 million win marked the fifth time a Powerball jackpot was won this year. According to the Powerball Lottery, the winner will have a tricky decision to make when they finally claim their cash. Most read in Money "The lucky ticket holder in Ohio will have the choice between an annuitized prize of $139.3 million or a lump sum payment of $66.5 million," a Powerball press release stated. Regardless of which option they choose, the winner will not receive the full amount as both prize options are before taxes have been applied. But, if they go for the annuitized prize, they will receive an immediate payment and then 29 annual payments that increase by 5% each year. However, the key issue facing the unknown winner is not what decision they will make but the time they have left to stake their claim. In Ohio, Powerball players have just 180 days to claim their winnings. As the numbers were drawn on July 3, this gives the winner less than a month to find their ticket and go to the lottery office to claim their cash. Millions dream of winning the lottery and finding fame and fortune. These are the biggest winners in US lottery history. Edwin Castro - $2.04 billion, Powerball, Nov. 8, 2022, in California. Theodorus Struyck - $1.765 billion, Powerball, Oct. 11, 2023, in California. Unknown winner - $1.602 billion, Mega Millions, Aug. 8, 2023, in Florida. Marvin and Mae Acosta from Los Angeles, California, John and Lisa Robinson from Munford, Tennessee, and Maureen Smith and David Kaltschmidt from Melbourne Beach, Florida - $1.586 billion, Powerball, Jan. 13, 2016. Unknown winner - $1.537 billion, Mega Millions, Oct. 23, 2018, from South Carolina. Unknown winner - he sued the mother of his child to keep his identity hidden - $1.348 billion, Mega Millions, Jan. 13, 2023, from Maine. Unknown winner - $1.337 billion, Mega Millions, July 29, 2022, from Illinois. Cheng and Duanpen Saephan , and Laiza Liem Chao - $1.326 billion, Powerball, April 7, 2024, from Oregon. Yanira Alvarez - $1.08 billion Powerball, July 19, 2023 in California. Wolverine FLL Lottery Club - $1.05 billion, Mega Millions, Jan. 22, 2021, from Michigan. Unknown winner - $842.4 million Powerball, Jan. 1, 2024, from Michigan. If the deadline passes before the win is claimed, the money will go to the lottery. The Ohio winner is not the only Powerball player to fall behind when it comes to claiming their winnings. A lucky player in Wisconsin scooped a $2 million prize after a clever decision saw them immediately double their winnings but they have not yet claimed the win. The unknown winner opted for the Power Play option which was X2 on that draw, This doubled the value of the win from $1 million to $2 million. The winning numbers drawn on November 30 were 4, 24, 29, 39, and 63 and the Powerball was 25. Despite their stroke of luck in doubling their winnings, the player narrowly missed out on the jackpot of $212 million after getting all five numbers correct but not the Powerball. Read More on The US Sun Like the winner in Ohio, the unknown millionaire in Wisconsin has 180 days from the draw date to claim their winnings. A Mega-Millions player is also sitting on a multi-million dollar ticket of $197.5 with just days left to claim it.

LAS VEGAS (AP) — Formula 1 on Monday at last said it will expand its grid in 2026 to make room for an American team that is partnered with General Motors. “As the pinnacle of motorsports, F1 demands boundary-pushing innovation and excellence. It’s an honor for General Motors and Cadillac to join the world’s premier racing series, and we’re committed to competing with passion and integrity to elevate the sport for race fans around the world," GM President Mark Reuss said. "This is a global stage for us to demonstrate GM’s engineering expertise and technology leadership at an entirely new level.” The approval ends years of wrangling that launched a U.S. Justice Department investigation into why Colorado-based Liberty Media, the commercial rights holder of F1, would not approve the team initially started by Michael Andretti. Andretti in September stepped aside from leading his namesake organization, so the 11th team will be called Cadillac F1 and be run by new Andretti Global majority owners Dan Towriss and Mark Walter. The team will use Ferrari engines its first two years until GM has a Cadillac engine built for competition in time for the 2028 season. Towriss is the the CEO and president of Group 1001 and entered motorsports via Andretti's IndyCar team when he signed on financial savings platform Gainbridge as a sponsor. Towriss is now a major part of the motorsports scene with ownership stakes in both Spire Motorsports' NASCAR team and Wayne Taylor Racing's sports car team. Walter is the chief executive of financial services firm Guggenheim Partners and the controlling owner of both the World Series champion Los Angeles Dodgers and Premier League club Chelsea. “We’re excited to partner with General Motors in bringing a dynamic presence to Formula 1," Towriss said. “Together, we’re assembling a world-class team that will embody American innovation and deliver unforgettable moments to race fans around the world.” Mario Andretti, the 1978 F1 world champion, will have an ambassador role with Cadillac F1. But his son, Michael, will have no official position with the organization now that he has scaled back his involvement with Andretti Global. “The Cadillac F1 Team is made up of a strong group of people that have worked tirelessly to build an American works team,” Michael Andretti posted on social media. “I’m very proud of the hard work they have put in and congratulate all involved on this momentous next step. I will be cheering for you!” The approval has been in works for weeks but was held until after last weekend's Las Vegas Grand Prix to not overshadow the showcase event of the Liberty Media portfolio. Max Verstappen won his fourth consecutive championship in Saturday night's race, the third and final stop in the United States for the top motorsports series in the world. Grid expansion in F1 is both infrequent and often unsuccessful. Four teams were granted entries in 2010 that should have pushed the grid to 13 teams and 26 cars for the first time since 1995. One team never made it to the grid and the other three had vanished by 2017. There is only one American team on the current F1 grid — owned by California businessman Gene Haas — but it is not particularly competitive and does not field American drivers. Andretti’s dream was to field a truly American team with American drivers. The fight to add this team has been going on for three-plus years and F1 initially denied the application despite approval from F1 sanctioning body FIA . The existing 10 teams, who have no voice in the matter, also largely opposed expansion because of the dilution in prize money and the billions of dollars they’ve already invested in the series. Andretti in 2020 tried and failed to buy the existing Sauber team. From there, he applied for grid expansion and partnered with GM, the top-selling manufacturer in the United States. The inclusion of GM was championed by the FIA and president Mohammed Ben Sulayem, who said Michael Andretti’s application was the only one of seven applicants to meet all required criteria to expand F1’s current grid. “General Motors is a huge global brand and powerhouse in the OEM world and is working with impressive partners," Ben Sulayem said Monday. "I am fully supportive of the efforts made by the FIA, Formula 1, GM and the team to maintain dialogue and work towards this outcome of an agreement in principle to progress this application." Despite the FIA's acceptance of Andretti and General Motors from the start, F1 wasn't interested in Andretti — but did want GM. At one point, F1 asked GM to find another team to partner with besides Andretti. GM refused and F1 said it would revisit the Andretti application if and when Cadillac had an engine ready to compete. “Formula 1 has maintained a dialogue with General Motors, and its partners at TWG Global, regarding the viability of an entry following the commercial assessment and decision made by Formula 1 in January 2024,” F1 said in a statement. “Over the course of this year, they have achieved operational milestones and made clear their commitment to brand the 11th team GM/Cadillac, and that GM will enter as an engine supplier at a later time. Formula 1 is therefore pleased to move forward with this application process." Yet another major shift in the debate over grid expansion occurred earlier this month with the announced resignation of Liberty Media CEO Greg Maffei, who was largely believed to be one of the biggest opponents of the Andretti entry. “With Formula 1’s continued growth plans in the US, we have always believed that welcoming an impressive US brand like GM/Cadillac to the grid and GM as a future power unit supplier could bring additional value and interest to the sport," Maffei said. "We credit the leadership of General Motors and their partners with significant progress in their readiness to enter Formula 1." AP auto racing: https://apnews.com/hub/auto-racing

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