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9jili Canadian policymakers were just beginning to recover from the shock of Donald Trump’s recent threats to impose 25 per cent tariffs on Canada and Mexico when the president-elect detonated another rhetorical explosive. In an overnight social media post, Trump referred to the “great state of Canada” and “Governor Justin Trudeau.” While Canadian cabinet ministers have largely shrugged off Trump’s unsettling mockery , Canada’s response to the tariff threat has been twofold. Read more: Trump's proposed tariffs against Canada and Mexico may be illegal, but that's not the real problem First, it has sought to demonstrate the practical, economic benefits of bilateral trade. Trudeau’s hastily organized visit to Mar-a-Lago on Nov. 29 was intended to communicate this to Trump and his advisers, although it doesn’t seem to have been successful given Trump’s snide mention of the dinner in the Truth Social post trolling Trudeau and Canada. Second, some Canadian politicians have sought to appeal to the shadier side of Trump’s trade politics, aligning Canada with the United States against Mexico by accusing Mexico of being a back door for Chinese imports and posing a national security threat . What’s at play as a chaotic Trump prepares to take office for a second time? We suggest the answer lies not only in economic explanations but especially in psychoanalytic ones. Political strategy is often grounded not in rational economic goals, but in irrational desires that sometimes drive politics and politicians to destructive ends. The psychology behind ideology In our recent book examining psychoanalysis and politics , we argue that too often media and policymakers downplay the significance of unconscious desire in everyday politics and economics. We believe ideology — whether it’s “free trade,” “free choice” or “Make America Great Again” — is not comprised of tired rallying cries by political leaders, but something seductive that both politicians and voters unconsciously desire, regardless of the eventual, and usually negative, repercussions. “Trade” is therefore more than the sum of economic parts; it is also highly emotional and even fetishized , imbued with near-magical expectations that defy economic common sense and prudence. Trump’s election campaign successfully drew on this emotional allure, tapping into popular economic frustrations over the rise of China and the relative decline of the U.S. He offered up trade and tariffs as tools to “Make America Great Again .” Canada, meanwhile, has been caught in the crosshairs, seeking to appease the U.S. while becoming the target of Trump’s populism regardless. Canada: Teammate or target? Before the American election, Canada sought to align itself with the U.S. in its trade war with China, announcing tariffs of 100 per cent on Chinese electric vehicles and 25 per cent on Chinese steel and aluminum . There is an economic logic to such mercantilist thinking. Trump’s strategy, after all, is to use protective tools to reassert American dominance over sectors where it’s fallen behind. Canada and Mexico are being told to get on board or be left out, and Canadian tariffs against China may be its attempt to do so. Canada has also responded by parroting American accusations against Mexico. Ontario Premier Doug Ford suggested Canada consider a bilateral trade agreement that would squeeze Mexico out of the United States-Mexico-Canada Agreement. Deputy Prime Minister Chrystia Freeland , while expressing tentative support for the trilateral trade deal, chastised Mexico for “not acting the way that Canada and the U.S. are when it comes to its economic relationship with China.” This is despite the fact that Canada has been as devoted to trade with China as Mexico is. But when Trump announced at the end of November that he intended to impose tariffs on both Canada and Mexico, and also demanded the end of illegal migration and drugs across the border, Canadian elected officials were stunned. Ford expressed open dismay , saying: “To compare us to Mexico is the most insulting thing I have ever heard from our friends and closest allies.” Within days, Canada pledged more spending on border security in an apparent effort to mollify the U.S. Stoking American anxieties What’s at stake in Trump’s populist ideology is not just economics, but the global status of the U.S. With China on the rise, this status is seen as under threat, sparking American anxieties. The election outcome suggested a nostalgic desire to regain America’s past “greatness” while eliminating any obstacles standing in its way. But although Trump has proven adept at exploiting this desire, the irrationality of his populist politics will likely prove counter-productive. Rather than addressing structural American economic and trade problems — for example, unprecedented income inequality and pervasive precarious employment — the emphasis is on flexing muscle and subordinating others. This is a classic psychoanalytic maneuver : instead of attending to your own failures, you displace them onto a stereotypical other — China, migrants, Muslims, etc. This is evident in Trump’s attempts to frame Mexicans as “bad hombres,” spearheading an “ Invasion of our Country! ” in the form of drugs and illegal immigrants, all the while allegedly making “a fortune from the US .” Read more: As Mexico appeases Trump, migrants bear the brunt This despite the fact that, while experiencing economic gains in recent years , Mexico has trailed well behind both the U.S. and Canada in productivity and income growth over the past 30 years. Trump’s emphasis on potential Chinese investment in the Mexican auto industry — there is currently only one Chinese-owned auto plant in Mexico — diverts attention from the persistent failure of the U.S.-based auto industry to keep up with Chinese technology. But Trump’s plans to prey on American fears via trade protectionism are likely to backfire . They may temporarily buoy nationalist sentiment and provide relief to some U.S. manufacturers, but soon American consumers will suffer higher prices while producers could be hit by more expensive oil and gas from Canada. China could also target U.S. agriculture in response to renewed Trump tariffs, negatively affecting the same rural areas that have provided political support for Trump. The irrationality of populist desire The irrationality of Trump’s populist protectionist policies is plain for all to see. No wonder Chinese officials point out that “no one will win a trade [or] tariff war .” As for Canada, it is unlikely that appeasing Trump or betraying Mexico will do much to placate the president-elect . To the contrary, these efforts could well be taken as evidence that more bullying is in order and further concessions can yet be extracted. Trump’s latest taunts to Trudeau, in fact, prove that escalated bullying will be a common presidential tactic in the months and years ahead — as if we needed more.Nila Morton , a graduate student at Howard University, was excited to be traveling back to South Carolina for Thanksgiving after almost a year of being away from home. Morton, 25, was born with a rare form of muscular dystrophy called Ullrich, which requires her to rely on a wheelchair. When it came time to travel home for the holidays this year from Washington, D.C., she didn’t feel much anxiety, since when she had flown alone for the first time last December, everything went smoothly. But when she landed at Greenville-Spartanburg International Airport, her journey — which was supposed to be a joyful reunion — took a "traumatic" turn instead. "I had to wait for all the passengers to de-board the plane before special assistance came to help me off," Morton tells PEOPLE exclusively. "Since it was late, I didn’t mind waiting, knowing my mom was already at the airport ready to pick me up." "Then I saw the employee with the aisle chair, and another employee came to join," she continues. "I told them I would need a full lift since I have limited mobility. While they attempted the lift, they dropped me, and I hit my tailbone and left side of my body. I felt pain immediately, and I also got bruised from the fall." She adds, "Throughout the whole time I was home for Thanksgiving, I was in pain. I thought I would be okay because I know that sometimes, when I'm in pain, my disease makes it worse and takes longer to heal. But I knew something was wrong when I started becoming uncomfortable sitting in my wheelchair or lying on my left side." Nila Morton Related: Things only worsened for Morton on her way back to Washington, D.C., on Dec. 2. During her first flight, which had a layover in Atlanta, the plane was delayed because the employees had difficulty loading her chair onto the plane. Morton was confused, as when she initially booked her trip in November, she had called Delta to confirm that her wheelchair would fit on her flights. Eventually, Morton landed in Atlanta, where she says she had to wait again for all the passengers to leave the plane before receiving assistance. Two special assistance employees — a young woman and an older man — came to transfer her to the aisle chair. "Nervously, I asked them if they were confident in their ability to help me safely, especially after being dropped the previous week," she says. "They said I had nothing to worry about. The young woman grabbed my upper body incorrectly, and the older man corrected her grip." "This made me even more anxious because it was starting off wrong," she adds. "I asked them again to make sure they wouldn’t drop me, but they became dismissive and started making comments under their breath. That made me feel like I was a burden or an issue just for wanting to make sure I wasn’t further harmed, especially since I was already in pain from the first incident." Once Morton was in the aisle chair and off the plane, she finally saw her wheelchair and, to her dismay, noticed the headrest was badly bent. She tells PEOPLE that the person who brought her the chair explained that they had to remove the headrest to fit it onto the plane. "I couldn’t understand how removing the headrest had caused such damage, and my concerns about the employees’ handling of my wheelchair only deepened," she says. "The final leg of my journey, from ATL to DCA, landed around 9:04 p.m.," she adds. "Once again, I waited until all passengers de-boarded before receiving assistance. When the employees transferred me to my wheelchair, I noticed the joystick cover was missing. This was the final blow after an already traumatic experience." Related: At the gate, Morton asked where she could report the missing cover. The gate agent directed her to baggage services and instructed one of the employees assisting her to make sure they took her there before retrieving her luggage. However, Morton says that when they approached baggage claim, the employee focused solely on retrieving her luggage and did not take her to baggage services. "I was overwhelmed by his lack of empathy and just wanted to get home," she says. "I asked if he could stay to help load my luggage into my Uber, and he agreed. He told me to follow him to the area where the Uber would pick me up, which was Terminal 2, Zone 1. Once we got there, he dropped my bags off and left." "For 13 minutes, I was out in the cold waiting before my Uber arrived," she adds. "Thankfully, my driver kindly helped me load my bags, but I was left feeling abandoned, frustrated, and defeated." Since the incidents, Morton says Delta has only contacted her about her wheelchair. In a statement to PEOPLE, a Delta spokesperson says, "We sincerely apologize for this customer’s experience, and our Customer Care team is engaged. We treat the rights of our customers with disabilities with the utmost seriousness." Nila Morton After Morton got back to her apartment, she broke down crying. Looking back, she says the whole experience made her feel "worthless." But then, something inside her said to make a video, so she turned to social media to share more about her experience. "It was mostly just to express my frustration about dealing with ableism," she says. "I wasn’t looking for sympathy or for people to care. It was mostly for me to help process what happened." But then, her video received traction, amassing more than 150,000 views and 4,000 comments. Related: "When I saw all the comments and views, I was scared," she adds. "I showed a side of myself that I usually hide because I never want to be seen as weak or letting ableism get to me. Honestly, seeing how people understood my pain and showed support made me realize that I wasn’t as alone as I thought. That I do matter. My existence does matter. I shouldn’t be made to feel bad because of how ableist society is." "I hope people can understand what ableism is. Something I believe many able-bodied people fail to understand is that combating ableism requires more than avoiding ableist slurs or befriending a disabled person you find cool. True allyship involves dismantling the systemic barriers that perpetuate discrimination and exclusion for disabled people." Read the original article on

‘The Matt Gaetz Show’ to premiere on OAN next month, but might be hard to find on Florida cable

Facebook Twitter WhatsApp SMS Email Print Copy article link Save Republican U.S. Sen.-elect Tim Sheehy this week claimed a firework-ignited grass fire set near his campaign sign west of Livingston was a politically motivated arson. The Park County Sheriff's Office, however, said it has no evidence that this was a politically motivated incident and is not investigating it as such. A Park County sheriff’s deputy on Dec. 21 notified dispatchers of a fire near Interstate 90 and West End Road. On social media, the sheriff’s office said winds that night were clocked at 50-to-60 mph and helped push the fire out to 26 acres. Image of the area west of Livingston burned by someone discharging fireworks into the grass on Dec. 21, 2024. (courtesy Park County Sheriff's Office) Authorities issued evacuations for the nearby residents and firefighters knocked the blaze down in roughly an hour and a half, according to the sheriff’s office post. The fire "definitely" started near a Sheehy campaign sign, Park County Rural Fire District Chief Dann Babcox told the Livingston Enterprise. No arrests had been made or charges filed in response to the fire as of Friday. The Park County Sheriff's Office said on Facebook on Monday it had obtained video evidence of a person shooting a firework out of a moving vehicle and igniting the dry grass before heading west on I-90. What’s open and closed on Christmas Eve and Christmas Day 2024? Is John Dutton real? Meet the powerful rancher seemingly inspiring the 'Yellowstone' legend Audit initiates 100 complaints against Montana guides, outfitters Victor student with spine disorder pursuing nursing to give back Montana State Bobcats return to FCS title game with commanding win over South Dakota Coyotes Speed limit drops to 55 mph at Bell Crossing; roundabout still in works State lottery announces the 4 winners of Montana Millionaire 1976 Montana State Bobcats: Who were these hicks? National champions and 'a people story' 'I thought he was helping me': Patient endured 9 years of chemotherapy for cancer he never had Postal Service plan's impact on Ravalli County still up for debate Bill Speltz: Could a USC backup quarterback ignite Griz football? It's surely worth a spin How to protect your communications through encryption Ukraine dairy sector still investing Live updates: No. 1 Montana State Bobcats host No. 4 South Dakota in FCS semifinals PHOTOS: Santa spotted on Main Street in Hamilton Republican U.S. Senate candidate Tim Sheehy addresses supporters early Wednesday morning at the Kimpton Armory Hotel in Bozeman. JOSEPH SCHELLER ,The Montana Standard On Tuesday Sheehy appeared near the scorched scene and issued a social media post of appreciation for the responders, which, according to the Enterprise, included neighbors to the threatened properties. He also posted a picture with two Montana Department of Transportation employees, whose facility was adjacent to the burned area, as well as a photo of a blackened building. Initial reports from the sheriff’s office did say the incident was being investigated as a criminal act but did not imply political motivations, although Sheehy appeared certain of it in a video posted to his social media. "We just visited with the Jensen family here, four beautiful young kids, it was actually their third daughter’s birthday the night that these arsonists started the fire to burn down our sign and started about a 30-acre wildfire, burned their grazing land, harmed their property and its just sad that would happen here," Sheehy said. "We can still disagree, we can still respect each other in this country. We don't have to do things like this." Sgt. Ryan Call, the fire-arson investigator for the Park County Sheriff's Office, told the Montana State News Bureau on Friday the office had not identified anyone responsible for the fire. However, given the information law enforcement is working with, he said it's not clear that this was a political act. "We can't say for 110% it was politically motivated," Call said. For example, its unclear from the video law enforcement obtained whether the person shooting the fireworks was aiming at another vehicle on the roadway, Call said. Additionally, Sheehy described no political threats or similar incidents to the fire near his campaign sign when talking to law enforcement about the Dec. 21 fire, Call said. "None of that has happened," he said. Call said he is not investigating the incident as a politically motivated attack and asked anyone who was in the area or may have more information to contact the Park County Sheriff at 406-222-2050. This story has been updated with additional comment from the Park County Sheriff's Office. Author twitter Author email

MP holiday weekend tips and closures‘Oh, Canada’ review: Richard Gere shows the price of a lifetime of deception

Huntington Bancshares Inc. stock underperforms Thursday when compared to competitors despite daily gains‘Oh, Canada’ review: Richard Gere shows the price of a lifetime of deception

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Julián Álvarez picking up the scoring pace with Atletico MadridBy ERIC TUCKER WASHINGTON (AP) — A ninth U.S. telecoms firm has been confirmed to have been hacked as part of a sprawling Chinese espionage campaign that gave officials in Beijing access to private texts and phone conversations of an unknown number of Americans, a top White House official said Friday. Biden administration officials said this month that at least eight telecommunications companies , as well as dozens of nations, had been affected by the Chinese hacking blitz known as Salt Typhoon. But Anne Neuberger, the deputy national security adviser for cyber and emerging technologies, told reporters Friday that a ninth victim had been identified after the administration released guidance to companies about how to hunt for Chinese culprits in their networks. The update from Neuberger is the latest development in a massive hacking operation that has alarmed national security officials, exposed cybersecurity vulnerabilities in the private sector and laid bare China’s hacking sophistication. The hackers compromised the networks of telecommunications companies to obtain customer call records and gain access to the private communications of “a limited number of individuals.” Though the FBI has not publicly identified any of the victims, officials believe senior U.S. government officials and prominent political figures are among those whose whose communications were accessed. Related Articles National News | Court rules Georgia lawmakers can subpoena Fani Willis for information related to her Trump case National News | U.S. homelessness up 18% as affordable housing remains out of reach for many people National News | OpenAI whistleblower death: Parents want to know what happened to Suchir Balaji after apparent suicide National News | Most Americans blame insurance profits and denials alongside the killer in UHC CEO death, poll finds National News | Another jackpot surpasses $1 billion. Is this the new normal? Neuberger said officials did not yet have a precise sense how many Americans overall were affected by Salt Typhoon, in part because the Chinese were careful about their techniques, but a “large number” were in the Washington-Virginia area. Officials believe the goal of the hackers was to identify who owned the phones and, if they were “government targets of interest,” spy on their texts and phone calls, she said. The FBI said most of the people targeted by the hackers are “primarily involved in government or political activity.” Neuberger said the episode highlighted the need for required cybersecurity practices in the telecommunications industry, something the Federal Communications Commission is to take up at a meeting next month. “We know that voluntary cyber security practices are inadequate to protect against China, Russia and Iran hacking of our critical infrastructure,” she said. The Chinese government has denied responsibility for the hacking.

Money Research Collective’s editorial team solely created this content. Opinions are their own, but compensation and in-depth research determine where and how companies may appear. Many featured companies advertise with us. How we make money . By Marc Guberti MONEY RESEARCH COLLECTIVE December 10, 2024 Diversification helps investors protect wealth, and alternative assets can help safeguard your portfolio while producing outsized returns. ***Money is not a client of any investment adviser featured on this page. The information provided on this page is for educational purposes only and is not intended as investment advice. Money does not offer advisory services.*** Alternative assets offer tremendous opportunities for patient investors. These investments aren’t correlated with stock market returns and can continue to rally higher even if stocks experience a pullback, correction or enter a bear market. However, you also don’t want to get stuck with the wrong alternative assets, since most of them aren’t as liquid as stocks. Whereas you can trade your favorite stocks in seconds, it can take much longer — in some instances, several months — to buy or sell an alternative asset, such as real estate, collectibles or private debt. So if you are wondering which alternative assets are worth considering, the following discusses the three top choices that have delighted investors so far. Bitcoin It’s hard to think of any alternative asset or stock that has outperformed bitcoin over the past five years. While investors can choose from many cryptocurrencies, bitcoin is the most reliable and the foremost example of digital assets. The world’s largest cryptocurrency has soared by 1,200% over the past five years and last week, it broke past $100,000 for the first time this year. Bitcoin’s returns can receive a further boost from the crypto-friendly incoming Trump administration . The president-elect’s proposal to set up a strategic bitcoin reserve can prompt other countries to follow suit, and with numerous governments buying bitcoin, it will increase demand for the asset, fundamentally propelling the price further. Even though bitcoin has become a household name at this point, there’s still plenty of potential for the leader of crypto, as adoption rates are still growing. The digital currency has rallied by 121% year-to-date, including a 40% surge in the month following the election. Bitcoin has now surpassed silver as the eighth largest asset in the world, and at the time of writing, it boasts a market cap of $1.893 trillion — or more than 53% of the total market cap of all cryptocurrencies. Real Estate Real estate is another popular alternative asset that can generate lofty returns. Returns vary greatly based on the location, property type and several other factors. While capital and the amount of time required can deter some investors, there are numerous ways to invest in real estate that can lower those barriers to entry. Examples include real estate investment trusts (REITs), real estate investment groups and crowdfunded real estate. There are also exchange-traded funds (ETFs) that make this alternative asset more accessible. The Vanguard Real Estate ETF (VNQ), for example, has delivered an annualized 9.48% return over the past 15 years. However, this annualized return doesn’t offer the best perspective of how much you can earn with real estate. As an asset class, real estate’s greatest strength is the ability to leverage with mortgages . As long as investors keep up with predictable monthly payments, they can continue to acquire real estate. It’s more predictable and less risky than using margin to trade stocks, and it increases your potential returns. For instance, you can buy a $1 million property with only $30,000 if you qualify for a 3% down payment. If you want to avoid private mortgage insurance , you have to put down $200,000 for a 20% down payment. The down payment and mortgages represent your current investment, not the mortgage’s remaining balance. If you put $30,000 into a $1 million property and net $10,000 in rental income in one year, you have realized a 33% cash-on-cash return. Meanwhile, if you compare the rental income to the property’s $1 million valuation, it only shows up as a 1% return. That’s just an example, and your returns may look different depending on several factors. However, investors can get a deeper appreciation for real estate’s total returns if they focus on cash-on-cash returns and leverage the tax benefits that come with owning property. Gold Gold has withstood the test of time. It’s been a medium of exchange for thousands of years, and it’s more liquid than real estate. Furthermore, gold is easier to carry and transport, but what about its annualized returns? The SPDR Gold Trust ETF (GLD) has delivered an annualized return of 7.8% over the past decade, but gains have been heating up as gold prices continue to rise. Gold, as a physical asset , has an annualized 11.9% return over the past five years and a three-year annualized return of 13.4%. It’s also gained roughly 30% over the past year. Gold benefits from trends that would hurt other investments, such as inflation and geopolitical unrest. Economic and global uncertainties can reduce the supply of gold as more individuals and governments accumulate the precious metal . Gold prices can also remain steady or gain ground during economic cycles that result in hardships for equity securities like stocks. For instance, during 2022’s bear market, gold remained relatively flat as the Nasdaq Composite fell by 33%. Diversify Your Portfolio with Alternative Assets Each of these three alternative assets can help increase your net worth and provide more diversification to your investment portfolio. Of the three, bitcoin has been the top performer; however, it comes with significant risk and elevated volatility, making it a better option for younger investors who have longer time horizons to recover from dramatic dips in price. Real estate is a timeless investment that is always in demand. However, investors will have to analyze additional metrics, such as an area’s population growth, new amenities, rent growth rates, maintenance and appreciation — as well as depreciation — over time. There’s more to do when investing in real estate, and it can take several months to complete a transaction. Gold is the least risky of the three options. As a store of value, the precious won’t crash like crypto did in 2018 and 2022, and it’s more liquid than real estate. Gold gains value as inflation increases and interest rates go down. It also benefits from economic and geopolitical uncertainty, a characteristic that separates it from most asset classes. Stocks can still deliver enticing returns, and historically, they provide the strongest gains over the long term. But for investors, diversification is a safeguard against overconcentration. Spreading your capital across traditional and alternative assets can reduce your risk and lead to more opportunities. More from Money: Best Gold IRA Companies Best Online Gold Dealers Beginner’s Guide to Investing in Precious Metals

Jeremy Clarkson's other half, Lisa Hogan, has been inundated with heart-warming wishes following a festive post. The adored co-star of 'Clarkson's Farm', who recently celebrated her eight anniversary with Jeremy, posted to the show's X/Twitter page on Christmas Day. Here, she shared a video of the sheep at their property in Chipping Norton, West Oxfordshire, some munching on bunches of hay. According to , the 51-year-old said: "Merry Christmas from all of us here on Diddly Squat Farm. "I hope you're having a good day and just remembering the people who aren't with their families and who are a little sad today. We are all thinking of you." Unsurprisingly, followers were quick to flood the comment section with their support. One user wrote: "Thank you and Merry Christmas to you and may the farmers be free to farm in the new year," while someone else posted: "Merry Christmas, Lisa and to everyone at the Farm! Thank you for everything You & Clarkson do to try to make it a better world." Another even wrote: "Merry Christmas from East Tennessee. Thank you for sharing your farm with us. Much love and blessings to you all." Jeremy was previously married to Frances Cain for 21 years before finding love again with Lisa. The pair initially sparked their romance back in 2017 when they met at a friend's Christmas gathering. While they are head over heels now, it wasn't always that way. In a previous interview with , Lisa said she made Jeremy work for it, after hearing of his 'reputation'. She said: "I was just about to leave and we were introduced and he said, 'No, no, come on, sit down and have a chat'. And that was it, really. "So he called me a couple of days later and I thought, 'Ok, you've got a bit of a rep' - so he had to really court me!"Luigi Nicholas Mangione, the suspect in the fatal shooting of a healthcare executive in New York City, apparently was living a charmed life: the grandson of a wealthy real estate developer, valedictorian of his elite Baltimore prep school and with degrees from one of the nation's top private universities. Friends at an exclusive co-living space at the edge of touristy Waikiki in Hawaii where the 26-year-old Mangione once lived widely considered him a “great guy,” and pictures on his social media accounts show a fit, smiling, handsome young man on beaches and at parties.Arsenal up to second after Kai Havertz goal sees off struggling Ipswich

is well known as Warren Buffett's largest investment at . It has netted shareholders over $100 billion in gains, making it one of the most successful investments ever. However, did you know that Buffett has greatly trimmed this position? That's right -- Berkshire Hathaway has been selling Apple shares throughout 2024, likely due to the stock's rising valuation. Clearly losing his optimism about the future returns of Apple stock, Buffett is adding a ton of cash to Berkshire Hathaway's , which now numbers over $300 billion. There is one stock he has never sold since buying in 1991, though: . Buffett owns over 20% of the credit card issuer and bank, making it the second-largest position in the Berkshire Hathaway portfolio. The position trades at a value of $40 billion as of this writing. Let's see why Buffett is attracted to American Express stock, why he has never sold a share, and whether you should join him and buy shares today. A durable consumer financing institution Buffett has been following American Express ever since he first bought shares in 1963. Back then it was a radically different company, dealing in traveler's checks. By 1991, the company had become one of the largest credit card networks in the United States, focusing on serving a premium customer base. There are a few durable qualities to American Express' business model. It sells high-fee credit cards such as the Platinum card, which debuted in 1984. People sign up for these cards because of the travel benefits and premium perks such as access to airport lounges. However, they also come with an intangible brand benefit built up over the last few decades. Customers feel like they are in an exclusive club shopping with the metallic American Express cards, which gives the company a brand value that is tough to replicate. On the back end, the American Express infrastructure is hard to replicate. Like and , American Express has been entrenched as a payment method for merchants for decades. If another credit card network were to try to compete, it would have to go to virtually every merchant across the country to try to convince them to add another credit card to its payment terminal. This is an uphill battle that insulates American Express from the competition. Buffett likely saw these qualities in 1991 when he bought American Express for Berkshire Hathaway. Since then, American Express stock has posted a cumulative total return of 10,130%. Even though Buffett has only purchased more shares a few other times since 1991, the stock has at such a high rate that it now makes up a large portion of his equity portfolio. Buffett's never-sell mentality Many, perhaps most, people have sold American Express while Buffett remains a shareholder. This is a lesson for beginning investors: You don't generate wealth by buying a stock, but by holding it for the . Buffett espouses this mentality for what he deems the best businesses in the Berkshire Hathaway portfolio. As long as he believes American Express stock isn't getting to an unreasonable valuation and still has plenty of runway left to grow, he believes the best course of action is to just hold. Long holding periods for your big stock winners is a lesson investors should take away from studying Buffett, with American Express being the quintessential example. If you think this contradicts the Apple sales, readers should note that Apple is still Buffett's largest stock holding today. He likely didn't want too large of a position in a slow-growth company trading at a of 37. American Express still has plenty of runway left to grow, especially with its permanent hedge. As a take-rate of the entire payments space in the United States (and increasingly around the world), American Express' revenue grows along with inflation. data by Is American Express a buy today? American Express stock is having a phenomenal year, up 58% year to date (YTD) as of this writing. The stock has a P/E of 22, which is much lower than Apple but higher than its historical average. Even so, I think American Express can do well by shareholders over the long term. Management believes it can grow at around 15% through acquiring new customers, inflation, pricing power, and its robust . Even if the stock's P/E compresses, investors should benefit by holding it over the long term -- which is why Buffett isn't selling a single share.‘Oh, Canada’ review: Richard Gere shows the price of a lifetime of deception

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TORONTO — Canada's main stock index lost nearly 250 points Thursday, led by weakness in energy and base metals, while U.S. markets also fell. The S&P/TSX composite index closed down 246.99 points at 25,410.71. In New York, the Dow Jones industrial average was down 234.44 points at 43,914.12. The S&P 500 index was down 32.94 points at 6,051.25, while the Nasdaq composite was down 132.05 points at 19,902.84. “I think the markets had some time to now digest where rates could be going into the near term,” said Adelaide Chiu, portfolio manager, vice-president and head of responsible investing at NEI Investments. On Wednesday, the Bank of Canada announced an outsized half-percentage point interest rate cut and signalled it would slow the pace of cuts going forward. “With the policy rate now substantially lower, we anticipate a more gradual approach to monetary policy if the economy evolves broadly as expected," said Bank of Canada governor Tiff Macklem. And in the U.S., the monthly report on consumer inflation came in largely as expected, helping set the stage for a quarter-point cut by the U.S. Federal Reserve next week. Globally, interest rate cuts are moderating as inflation reaches targets, Chiu said. On Thursday, the European Central Bank cut rates by a quarter of a percentage point while the Swiss National Bank cut by half a percentage point. A year ago, market watchers couldn’t have predicted just how much equities would rise in 2024, said Chiu. “Earnings growth itself has been quite modest, but the market has done very well,” she said. “It’s really a movement of the interest rates that has really impacted valuations for a lot of these companies in the market.” Now, the news is largely focused on the incoming U.S. president and whether his threatened tariffs will come to pass, Chiu said. The Canadian dollar traded for 70.48 cents US compared with 70.65 cents US on Wednesday. The January crude oil contract was down 27 cents at US$70.02 per barrel and the January natural gas contract was up eight cents at US$3.46 per mmBTU. The February gold contract was down US$47.30 at US$2,709.40 an ounce and the March copper contract was down a penny at US$4.20 a pound. -- With files from The Associated Press This report by The Canadian Press was first published Dec. 12, 2024. Companies in this story: (TSX:GSPTSE, TSX:CADUSD) Rosa Saba, The Canadian PressAtos SE announces the completion of the settlement and delivery of its €233 million rights issue

NoneKey details about the man accused of killing of UnitedHealthcare's CEO

Review committees face scrutiny in states that restrict abortion49ers vs. Rams: George Kittle predicts a big game for Deebo Samuel