If You'd Invested $1,000 in Berkshire Hathaway Stock 5 Years Ago, Here's How Much You'd Have Today
Led by Warren Buffett, one of the most famous investors to ever live — and one of the most successful — Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) has delivered incredible returns to shareholders over its long history. Buffett knows how to “pick ’em,” as they say.
Berkshire’s success is built on the investing philosophy of Buffett and his late business partner, Charlie Munger, which revolves around finding “wonderful” businesses and sticking to them long term — not unlike our philosophy at the Motley Fool. These wonderful companies include some of the biggest names in the world: Coca-Cola, American Express, and Apple, to name just a few.
Their approach made both men billionaires, and made the company the only non-tech U.S. firm to surpass $1 trillion in market capitalization.
The growth of $1,000 of Berkshire Hathaway stock
If you had invested $1,000 into Berkshire five years ago, today your investment would be worth north of $2,300. That’s a 132% gain or 18% annualized — not a bad return! The S&P 500 is up just 85% over the same period. Berkshire’s return beat even the tech-heavy Nasdaq Composite, which was up 111%.
The best time to invest in Berkshire would have been long ago, but it’s better late than never. Berkshire is a phenomenal company to this day. You may not enjoy quite the growth rate that it has seen in years past — and, yes, Buffett is getting up there in age — but Berkshire is still making sound investment decisions and growing shareholder wealth.
Investors can expect the company to be guided by the same philosophy and values for many years to come. The future continues to look bright for Berkshire.
Should you invest $1,000 in Berkshire Hathaway right now?
Before you buy stock in Berkshire Hathaway, consider this:
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Consider when Nvidia made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation, you’d have $656,938!*
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American Express is an advertising partner of The Ascent, a Motley Fool company. Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple and Berkshire Hathaway. The Motley Fool has a disclosure policy.
If You’d Invested $1,000 in Berkshire Hathaway Stock 5 Years Ago, Here’s How Much You’d Have Today was originally published by The Motley Fool
Ask an Advisor: I Live on Social Security and Food Stamps – Can My Investments Survive a Down Market?
I’m retired and living on Social Security and food stamps. I have all my money in two conservative retirement accounts. I cannot contribute any money to them. I plan on taking distributions in five years. What’s the best course of action to save my money before the market crashes even more?
-Camile
The core question here is how to protect your money during a market downturn. It’s one that I hear perhaps more than any other.
The answer can vary depending on the unique circumstances of the person asking. In particular, it depends on how you understand risk and what you’re willing to do about it.
Here’s what to know about protecting your money when the market falls. A financial advisor can help you manage your savings and plan for retirement. Find a local advisor today.
The Investor’s Trilemma: Safety, Liquidity and Growth
In general, your investments can offer safety, growth and liquidity. But you can’t expect them to deliver all three benefits at once. Since you do not plan on taking distributions for another five years, liquidity probably isn’t a top priority right now. (Of course, it is still important to keep in mind.) That leaves safety and growth as your primary concerns. So, which of those two is more important?
In your case, it’s clear that safety – or avoiding loss from further market downturns – is a major concern. You don’t have extra cash to put toward your investments, and the fact that they’re already so conservative suggests that you don’t think they can take much of a hit.
You may or may not be right to think that. It’s difficult to say without looking at the hard numbers. And there may be steps you can take to make your portfolio more conservative. On the other hand, perhaps your dissatisfaction indicates that a safety-first approach is no longer cutting it.
The Challenge: Beating Inflation
The reason to invest in the first place is to maximize the value of your money as much as possible. Many obstacles get in the way of that goal. But the one hurdle that will always be there, to some degree, is inflation.
So, as an investor, your battle is with inflation first. And the only way to win that battle is to own something that appreciates in value faster than (or at least equal to) the inflation rate.
Can You Earn Returns Without Risk?
With all those principles established, let’s return to the central question: How can you avoid putting your money at risk but still earn returns on it?
Well, sadly, the short answer is that you can’t. No risk typically means no return.
That said, you can get minimal returns, for minimal risk, by investing in debt. In other words, you loan somebody money and get paid a little bit of interest in return. Some examples include:
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Certificates of deposit. These financial vehicles are currently paying about 3% for 12-month terms. Your money will be held in the CD until the maturity date or else you’ll owe a penalty.
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Money markets. These savings accounts are paying about 1.5% today.
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Treasury bonds. These government-backed bonds currently pay about 3.1% for a two-year bond.
-
Treasury Inflation-Protected Securities (TIPS). This type of Treasury bond has a principal value determined by the prevailing inflation rate, which impacts the interest paid.
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I bonds. This Treasury bond’s interest rate is determined by the current inflation rate. The current interest rate for I bonds is at 9.62%.
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These investments will not earn you much money. But they will help soften the blow of inflation and won’t vary wildly in their value.
Such modest benefits are enough for some investors. But they may not be enough for you.
Consider consulting a financial advisor to build a plan to protect your retirement nest egg.
How to Approach Your Investments
Sure, you don’t have the income to spare right now, and you won’t start drawing from your portfolio for a few more years, so hunkering down with low-risk assets sounds appealing.
But “starting” to draw from your portfolio is very different from depleting it. How long do those savings need to last? If you plan on drawing from your portfolio over the next 20 years, you must have some exposure to risk if it is to keep up with (or beat) inflation.
The good news is getting that exposure may not be as scary as it seems. If you have a long time horizon and can get away with annual withdrawals of about 4% or less, you may be able to get your portfolio to a good place with just moderate risk exposure.
A well-diversified portfolio, for example, can have “buckets” of money with different risk profiles for various time horizons. You could have a roughly 25% portion in your nest egg invested in cash and bonds for short-term withdrawals.
A second quarter could go toward high-yield bonds and stocks and have a time horizon of six to 10 years. The final half would be in the most aggressive “bucket,” with stock and real estate holdings. You wouldn’t plan to draw from this bucket until 11 or more years have passed.
What to Do Next
As I always tell my clients, you do not flip a switch from aggressive to conservative or vice-versa. It happens incrementally over many years, even decades.
And that’s true of investing generally: Whether things look exhilarating or terrifying at any given moment, remember that it’s about the long game. Success has more to do with sticking to your principles over time, and less with picking the “right” horse at the “right” time. A financial advisor can help guide you through your investment and retirement journey, and you can get matched for free.
Retirement Planning Tips
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Work with a professional. From Social Security and alternative income streams to medical expenses and long-term care, there’s a lot to consider when creating a plan for retirement. A financial advisor can help guide you through this complicated process. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
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Why you shouldn’t panic during a bear market. Pausing investments during a bear market can slash retirement income down the road. This chart shows why you shouldn’t stop investing during a bear market.
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Keep an emergency fund on hand in case you run into unexpected expenses. An emergency fund should be liquid — in an account that isn’t at risk of significant fluctuation like the stock market. The tradeoff is that the value of liquid cash can be eroded by inflation. But a high-interest account allows you to earn compound interest. Compare savings accounts from these banks.
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Are you a financial advisor looking to grow your business? SmartAsset AMP helps advisors connect with leads and offers marketing automation solutions so you can spend more time making conversions. Learn more about SmartAsset AMP.
Photo credit: ©iStock.com/Goodboy Picture Company, ©iStock.com/Nattakorn Maneerat
The post Ask An Advisor: I Live on Social Security and Food Stamps. Can I Protect My Investments in a Down Market? appeared first on SmartAsset Blog.
Sell Alert: John Bell Cashes Out $67K In Permian Resources Stock
John Bell, EVP at Permian Resources PR, reported an insider sell on September 5, according to a new SEC filing.
What Happened: According to a Form 4 filing with the U.S. Securities and Exchange Commission on Thursday, Bell sold 4,821 shares of Permian Resources. The total transaction value is $67,173.
The latest market snapshot at Friday morning reveals Permian Resources shares down by 0.0%, trading at $13.48.
Delving into Permian Resources’s Background
Permian Resources Corp is an independent oil and natural gas company focused on generating outsized returns to stakeholders through the responsible acquisition, optimization and development of oil and liquids-rich natural gas assets. The Company’s assets and operations are primarily concentrated in the core of the Permian Basin, and its properties consist of large, contiguous acreage blocks located in West Texas and New Mexico.
Financial Milestones: Permian Resources’s Journey
Revenue Growth: Over the 3 months period, Permian Resources showcased positive performance, achieving a revenue growth rate of 99.89% as of 30 June, 2024. This reflects a substantial increase in the company’s top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Energy sector.
Evaluating Earnings Performance:
-
Gross Margin: Achieving a high gross margin of 49.45%, the company performs well in terms of cost management and profitability within its sector.
-
Earnings per Share (EPS): Permian Resources’s EPS is below the industry average, signaling challenges in bottom-line performance with a current EPS of 0.38.
Debt Management: Permian Resources’s debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.48.
In-Depth Valuation Examination:
-
Price to Earnings (P/E) Ratio: The P/E ratio of 10.14 is lower than the industry average, implying a discounted valuation for Permian Resources’s stock.
-
Price to Sales (P/S) Ratio: The P/S ratio of 1.64 is lower than the industry average, implying a discounted valuation for Permian Resources’s stock in relation to sales performance.
-
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation & Amortization): Permian Resources’s EV/EBITDA ratio at 4.54 suggests potential undervaluation, falling below industry averages.
Market Capitalization Analysis: Positioned below industry benchmarks, the company’s market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
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Exploring the Significance of Insider Trading
Insider transactions, although significant, should be considered within the larger context of market analysis and trends.
In the context of legal matters, the term “insider” refers to any officer, director, or beneficial owner holding more than ten percent of a company’s equity securities, as outlined by Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are obligated to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
Pointing towards optimism, a company insider’s new purchase signals their positive anticipation for the stock to rise.
Despite insider sells not always signaling a bearish sentiment, they can be driven by various factors.
The Insider’s Guide to Important Transaction Codes
For investors, a primary focus lies on transactions occurring in the open market, as indicated in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
Check Out The Full List Of Permian Resources’s Insider Trades.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Keir Starmer To Meet Biden at White House Amid Talks on Global Issues And UK-EU Relations
UK Prime Minister Keir Starmer will meet Joe Biden for the first time since the U.S. president announced he would not seek re-election.
Starmer’s visit to the White House is scheduled for next Friday and will be his second since taking office, reported The Guardian.
His initial visit occurred at the NATO summit shortly after Labour’s election victory, amid discussions about President Biden’s age and health, during which Starmer noted that Biden was in “good form.”
Since then, Kamala Harris has officially been selected as the Democratic nominee. According to a statement from White House Press Secretary Karine Jean-Pierre, the leaders will engage in “an in-depth discussion on a range of global issues of mutual interest.”
Also on the agenda will be efforts to secure a hostage release and a ceasefire agreement to end the war in Gaza.
The discussion will also cover safeguarding international shipping in the Red Sea from Iranian-backed Houthi threats, promoting a free and open Indo-Pacific, and exploring ways to enhance U.S.-UK collaboration on securing supply chains and boosting climate resilience.
No meetings between Starmer and Harris have been announced, though it’s expected she will join the bilateral talks with Biden.
There are also no public plans for Starmer to meet Republican nominee Donald Trump, although such meetings have occurred in the past, like David Cameron‘s with Mitt Romney in 2012.
In July, Starmer extended his best wishes to Trump and condemned the assassination attempt on the former president.
Recently, Starmer has traveled to Berlin and Paris in an effort to recalibrate the UK’s ties with European leaders.
On Saturday, he will head to Dublin to meet with Irish Taoiseach Simon Harris, marking the first official visit to Ireland by a UK prime minister in five years.
Read Next:
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Bristow Group Recent Insider Activity
A substantial insider sell was reported on September 5, by Solus Alternative Asset Management LP, 10% Owner at Bristow Group VTOL, based on the recent SEC filing.
What Happened: According to a Form 4 filing with the U.S. Securities and Exchange Commission on Thursday, LP sold 75,000 shares of Bristow Group. The total transaction value is $2,962,162.
Monitoring the market, Bristow Group‘s shares down by 0.0% at $38.93 during Thursday’s morning.
About Bristow Group
Bristow Group Inc is the provider of vertical flight solutions. It provides aviation services to a broad base of integrated, national, and independent energy companies. The company provides commercial search and rescue (SAR) services in multiple countries and public sector SAR services in the United Kingdom on behalf of the Maritime & Coastguard Agency (MCA). Additionally, it offers fixed-wing transportation and other aviation-related solutions. Its energy customers charter its helicopters to transport personnel to, from, and between onshore bases and offshore production platforms, drilling rigs, and other installations. It has customers in Australia, Brazil, Canada, Chile, Colombia, Guyana, India, Mexico, Nigeria, Norway, Spain, Suriname, Trinidad, the U.K. and the United States.
Financial Milestones: Bristow Group’s Journey
Revenue Growth: Over the 3 months period, Bristow Group showcased positive performance, achieving a revenue growth rate of 12.64% as of 30 June, 2024. This reflects a substantial increase in the company’s top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Energy sector.
Holistic Profitability Examination:
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Gross Margin: The company sets a benchmark with a high gross margin of 60.66%, reflecting superior cost management and profitability compared to its peers.
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Earnings per Share (EPS): The company excels with an EPS that surpasses the industry average. With a current EPS of 0.99, Bristow Group showcases strong earnings per share.
Debt Management: Bristow Group’s debt-to-equity ratio is below the industry average at 1.01, reflecting a lower dependency on debt financing and a more conservative financial approach.
Market Valuation:
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Price to Earnings (P/E) Ratio: The current Price to Earnings ratio of 36.73 is higher than the industry average, indicating the stock is priced at a premium level according to the market sentiment.
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Price to Sales (P/S) Ratio: The current P/S ratio of 0.82 is below industry norms, suggesting potential undervaluation and presenting an investment opportunity for those considering sales performance.
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EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation & Amortization): At 8.51, the company’s EV/EBITDA ratio outperforms industry norms, reflecting positive market perception. This positioning indicates optimistic expectations for the company’s future performance.
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
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Why Pay Attention to Insider Transactions
Investors should view insider transactions as part of a multifaceted analysis and not rely solely on them for decision-making.
When discussing legal matters, the term “insider” refers to any officer, director, or beneficial owner holding more than ten percent of a company’s equity securities, as stipulated in Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are required to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
A new purchase by a company insider is a indication that they anticipate the stock will rise.
On the other hand, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.
Transaction Codes To Focus On
Digging into the details of stock transactions, investors frequently turn their attention to those taking place in the open market, as outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
Check Out The Full List Of Bristow Group’s Insider Trades.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
3 Top High-Yield Oil Stocks to Buy in September
There’s a major fault line running through the U.S. oil and gas sector, and I’m not talking about geology here. Simply put, Devon Energy (NYSE: DVN), Vitesse Energy (NYSE: VTS), and Chord Energy (NASDAQ: CHRD) are trading on lowly valuations and colossal dividend yields because investors are pricing in Bakken oil field assets at a discount to other assets such as in the Permian Basin. However, all three stocks now trade on attractive valuations and are worth picking up.
The top five oil-producing regions in the U.S.
Here’s a look at the top five oil-producing regions in the U.S. to get a sense of why investors favor the Permian over other assets.
|
Region |
Location |
Oil Production in June 2024 (thousands of barrels per day) |
|---|---|---|
|
Permian |
Texas and New Mexico |
6,187 |
|
Bakken |
North Dakota and Montana |
1,313 |
|
Eagle Ford |
Texas |
1,106 |
|
Niobrara |
Northeast Colorado and Southeast Wyoming |
697 |
|
Anadarko |
Texas and Oklahoma |
383 |
Data: U.S. Energy Information Administration.
Not only is the Permian region the most important in terms of production, but it has also increased production the most in recent years. This stands in contrast to the mediocre growth in production in the Bakken.
The maturing nature of the Bakken oil field is recognized in the North Dakota Energy Report 2023: “The Bakken formation is now considered “mature” by the industry — meaning that many of the operators in the state are dedicated to producing their acreage on a consistent and steady pace but that radical growth in production is less likely.
Devon Energy, Vitesse Energy, and Chord Energy
It’s not hard to see that investors may take a glass-half-empty viewpoint of these stocks. While Vitesse Energy is up 18% this year, it still trades on an 8.1% dividend yield, and stocks don’t trade on such yields unless the market is concerned about something.
Similarly, Devon Energy and Chord Energy also trade on attractive yields, and part of that reason probably comes down to significant deals both companies have done to add assets in the Bakken oil field. All three have announced deals in the Bakken this year. It’s part of a current trend in the industry whereby oil and gas companies are using cash flows gushing from a relatively high price of oil to acquire assets at a time when the market continues to accord energy companies lowly valuations.
It’s not hard to see what all three have in common this year.
|
Company |
Market Cap |
Deal Announced in 2024 |
|
|---|---|---|---|
|
Vitesse Energy |
$763 million |
Agreed to acquire $40 million worth of assets in the Williston Basin (Bakken). |
|
|
Chord Energy |
$9.2 billion |
Combined with Williston Basin-focused Enerplus in an $11 billion enterprise deal, Chord shareholders own 67% of the new company, and Enerplus shareholders hold 33%. |
|
|
Devon Energy |
$28 billion |
Acquiring Grayson Mills’ Williston Basin assets for $5 billion, consisting of $3.25 billion in cash and $1.75 billion in shares. |
|
Data source: Company presentations.
All three stocks look like a great value, and it appears that the market is being overly pessimistic here.
Vitesse Energy
Vitesse Energy is an unusual oil and gas company that doesn’t fully own or operate assets. Instead, it uses a proprietary technology system and management’s experience to invest in interest in wells operated by larger companies, primarily in the Bakken. These include Chord Energy and Grayson Mill.
In addition, it uses hedging to protect against a fall in the price of oil. The strategy provides diversification across 7,000 producing wells, and Vitesse is almost an ETF on Bakken.
Chord Energy
Chord Energy now expects $1.2 billion in adjusted free cash flow (FCF) in 2024, and management believes it has a “footprint of 10 years of low breakeven locations delivering peer-leading oil-weighted production” in the Williston Basin. Given that the $1.2 billion in FCF represents more than 13% of its market cap, the stock looks capable of delivering its entire market cap and more in FCF within a decade.
Devon Energy
It’s a similar story at Devon Energy, where Wall Street expects the company will generate $10.9 billion in FCF over the next three years. Management expects the Grayson Mill deal will add 15% to FCF generation. With the current market cap at just $28 billion, it won’t take long for Devon to generate a significant part of its market cap in FCF, either.
All told, while the Bakken is maturing, and there’s no guarantee the price of oil will stay high, these three high-yield stocks look like an excellent value.
Should you invest $1,000 in Devon Energy right now?
Before you buy stock in Devon Energy, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Devon Energy wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Nvidia made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation, you’d have $656,938!*
Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*.
*Stock Advisor returns as of September 3, 2024
Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Chord Energy and Vitesse Energy. The Motley Fool has a disclosure policy.
3 Top High-Yield Oil Stocks to Buy in September was originally published by The Motley Fool
Florida Homeowners Association Board Resigns En Masse Over $60,000 Special Assessment Dispute – Find Out What Sparked the Crisis
Homeowners in the Villas of Carillon, a quiet townhome community nestled in Feather Sound, Florida, are reeling after their Homeowners Association (HOA) board dropped a bombshell: a $60,000 special assessment.
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The shock wave hit the residents hard when they received notices in early June explaining the grim reality that their HOA’s reserves, which had never been fully funded in the neighborhood’s 20-year history, were on the verge of depletion. The looming financial challenge threatened to snowball, leaving every household facing a hefty bill.
The notice sent shivers through the community, with each household expected to pay around $60,000. A vote was scheduled for late June to determine the payment plan, but the news didn’t sit well with many residents.
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“I was in shock. I immediately started texting other neighbors,” said Tammy Rodeffer, a concerned homeowner, in a conversation with local station WTSP. “We’re talking about people having to sell, facing liens, even foreclosures. It’s terrifying.”
As the special meeting date loomed, homeowners rallied. The mood was tense as the residents packed the meeting, eager to persuade the board to halt the decision.
“You’ve got to pull together on this,” urged Robert Regan, another resident, at the meeting. “This problem isn’t going to just disappear. And for condos, 100% reserves are a must.”
But just when the community thought the dust might settle, the unexpected happened. In an email sent out right after the vote on June 21, the entire HOA board announced their immediate resignation. The vote was tabled indefinitely, leaving the residents in limbo as they scrambled to figure out their next move.
The big question lingering in everyone’s mind: What exactly is driving these sky-high special assessment fees?
See Also: This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, and you only need $100.
The story takes a twist when you dig into recent history. Ever since the tragic Surfside condo collapse in 2021, which claimed 98 lives due to shoddy construction, Florida has tightened building inspection regulations. Condo associations across the state are hiking fees to bulk up reserves for essential repairs. New state laws now require regular reserve studies and annual contributions, but they only apply to buildings three stories or taller. The Villas at Carillon? Just two stories.
The now-defunct HOA board had argued that insurance companies would eventually refuse to cover the complex without the necessary reserves, particularly with aging roofs that would soon need replacing. Yet, not everyone is convinced that the steep assessment is the only way forward.
Patricia Staebler, a seasoned reserve specialist from Sarasota, pointed out that special assessments should be avoidable if a project’s cost is planned over time. “Reserves should be built gradually,” she explained. “With annual increases spread out over 30 years, you don’t need 100% funding right away, but you do need to meet your yearly targets.”
Staebler’s 15 years in the field taught her that perfect funding is a myth. “I’ve never seen an association with 100% funding,” she admitted, “but meeting your annual reserve requirements is critical.”
Trending: This city is the clear winner of Zillow’s 2024 Home Value Forecast —No surprise as the number of millionaires there grew by 75% in the last decade.
As the dust settles, town house owners are left searching for answers. They hope the delay will buy them time to investigate the numbers and determine why the assessment ballooned to such an eye-watering figure.
“We need to see the paperwork, go through all the financials, and understand how they arrived at these numbers,” Rodeffer said, echoing the community’s sentiment.
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MDB DEADLINE ALERT: ROSEN, TRUSTED INVESTOR COUNSEL, Encourages MongoDB, Inc. Investors with Losses in Excess of $100K to Secure Counsel Before Important September 9 Deadline in Securities Class Action – MDB
NEW YORK, Sept. 07, 2024 (GLOBE NEWSWIRE) —
WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of MongoDB, Inc. MDB between August 31, 2023 and May 30, 2024, both dates inclusive (the “Class Period”), of the important September 9, 2024 lead plaintiff deadline.
SO WHAT: If you purchased MongoDB securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the MongoDB class action, go to https://rosenlegal.com/submit-form/?case_id=27182 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 9, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants created the false impression that they possessed reliable information pertaining to MongoDB’s projected revenue outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations. In truth, MongoDB’s sales force restructure, which prioritized reducing friction in the enrollment process, had resulted in complete loss of upfront commitments; a significant reduction in the information gathered by their sales force as to the trajectory for the new MongoDB Atlas enrollments; and reduced pressure on new enrollments to grow. Defendants misled investors by providing the public with materially flawed statements of confidence and growth projections which did not account for these variables. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the MongoDB class action, go to https://rosenlegal.com/submit-form/?case_id=27182 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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"A Dreamer Who Gets Things Done"
Developer Ali Sahabi Gets Public-Private Impact Award From Los Angeles County Business Federation
LOS ANGELES, Sept. 6, 2024 /PRNewswire/ — Over the past three decades, Public-Private Partnerships and cooperation have helped transform much of Southern California by promoting sustainable and resilient communities, inspiring clean and green technologies.
For ongoing efforts demonstrating a lifelong commitment to social and economic balance in many professional endeavors, Ali Sahabi has been selected by the Los Angeles County Business Federation (BizFed) to receive its first Public-Private Impact Award for bringing together business, government and non-profit leaders to advance sustainability and resilience in business, public policy and the non-profit sector.
“On behalf of the ever-growing BizFed family of diverse business networks, I congratulate Ali Sahabi on receiving our first annual Public-Private Impact Award. Ali has been an outstanding advocate for public-private partnerships and investments during his many years as an active BizFed leader. We applaud his work championing sustainable development and greater resiliency for businesses and homes,” said Tracy Hernandez, Founding CEO of the Los Angeles County Business Federation, widely known as “BizFed.”
BizFed unites more than 240 business organizations representing 420,000 employers with 5 million employees throughout Southern California.
“The creation of this award reflects BizFed’s dedication to fostering collaboration between public and private sector entities. We’re proud to honor leaders like Ali Sahabi, whose work has fortified California’s infrastructure and set new standards for what can be achieved through innovative public-private partnerships,” said David Englin, BizFed President.
The award presentation at the 10th annual BizFed Freshman Policymakers Reception at The Commons at the Universal Studios Lot on Sept. 4 highlighted four specific examples of Public-Private Partnerships by Sahabi that have made significant accomplishments in Southern California and beyond. These Public-Private Partnerships include:
Dos Lagos Mixed Use Development
By working cooperatively with leaders in the City of Corona to form a Redevelopment Project Area and coordinating with numerous Federal and State regulatory agencies, Sahabi achieved a dream many thought unrealistic to bring a $1-billion investment to the community as he transformed an abandoned 543-acre silica mine into a thriving, sustainable mixed-use community known as Dos Lagos.
“Ali Sahabi came to me with this crazy Idea of what he wanted to do with this vacant land. Making an old mining area into an entire live / work community,” said Riverside County Supervisor Karen Spiegel. She added that Sahabi wanted to build Dos Lagos “to last, be sustainable and environmentally friendly.” Sahabi would use the public | private development approach to the project by bringing together “community resources, business resources and his personal resources”.
Sahabi is “a dreamer who makes things happen” emphasized Supervisor Spiegel
The project earned the California Governor’s Environmental and Economic Leadership Award for Sustainable Communities, as well as American Planning Association and Building Industry Association awards, and other statewide and national accolades.
The Dos Lagos development became a pioneer in many ways. Dos Lagos was the first mixed use, master planned community in Western Riverside County. It included the first pedestrian promenade life-style center, the first LEED certified, Class A office building in Riverside County, first work / live lofts in the Inland Empire, the first environmentally planned golf course, and the first real estate development project endorsed by the Riverside Land Conservancy.
Workforce Development Program
As President of the San Bernardino County Chapter of the Building Industry Association of Southern California, Sahabi joined in a Public-Private Partnership to work with the County of San Bernardino and San Bernardino Community College District to advance a workforce development program that provided job skill training in the home building industry to formerly incarcerated individuals.
“We have an aging workforce in the construction industry and Ali Sahabi was really hands on in bringing our BIA San Bernardino County Chapter to work with the San Bernardino Community College District In putting together a really unique construction training program,” said Carlos Rodriguez, Chief Policy Officer of the Building Industry Association of Southern California. “It was a 200 hour-training program that continues to work with formerly incarcerated members of our community who need a second chance.”
Program participants earned a job-readiness certificate showing they had gained skills to meet the needs of regional employers. Collaboration between the public and private entities brought industry standards to the classroom so that students, the future builders and leaders of the region, were ready for the workplace on day one.
Green Valley Initiative
Beyond brick-and-mortar accomplishments, it is the lasting impact Sahabi’s work has had on others that stands out as exemplary. His vision and actions have influenced a generation of builders, architects and government leaders. Sahabi helped transform much of Southern California by promoting sustainable and resilient communities, inspiring clean and green technologies, and demonstrating a lifelong commitment to social and economic balance in many professional endeavors.
Sahabi has been a strong believer in the need for regional cooperation to improve the quality of life in California. He initiated a regional movement towards sustainability through his nonprofit Green Institute for Village Empowerment, or GIVE, and the launch of the Green Valley Initiative in 2007, which is credited with sparking some of the region’s most forward-thinking projects.
Sahabi led a regional push in the early 2000s for clean and green technologies, renewable energy and sustainable development that can still be seen growing today throughout Southern California. He was instrumental in bringing the U.S. Green Building Council to the Inland Empire. He has supported a broad range of causes not only in the industry but also organizations that promote important issues of community, social justice, public health and welfare, as well as primary, secondary and higher education.
“The Green Valley Initiative was way ahead of its time – a truly livable community where you could work, play and live in one community and it would be sustainable, waste free, energy efficient and really set a model for the rest of the country,” said Terry Tamminen, President / CEO, AltaSea. “Ali realized that it had to go beyond just his footprint. It had to be all of Riverside and San Bernardino Counties – the Green Valley.”
Through his efforts, Sahabi managed to get dozens of government agencies, the private sector and NGOs together for the first time to focus on the question of “how do we want to make our communities truly sustainable in the future?’
“When Ali came up with the idea for the Green Valley Initiative and had already been developing sustainable communities in the region, it was so new, especially in Southern California which was the model for urban sprawl. But he now had a roadmap for a sustainable community. Something that set the tone for development in throughout California and then I think throughout the nation and the world,” Tamminen added.
Resilience Advantage
The Resilience Advantage webinar series highlighted educational programming conducted over five years by the U.S. Resiliency Council in collaboration with the Los Angeles County Business Federation (BizFed), Los Angeles County Economic Development Corporation (LAEDC), Los Angeles Area Chamber of Commerce, and program sponsor Optimum Seismic, Inc. U.S. Small Business Administration also partnered with USRC to support this educational programming as a co-sponsor.
“The first thing we came up with was to develop an educational series called the Resilience Advantage, a years long effort around topics of resilience that would be meaningful to all of the stakeholders in the built environment,” said Evan Reis, SE, Executive Director and Co-founder of the U.S. Resiliency Council. The Resilience Advantage was really Ali’s idea to have a series of videos, webinar and interactive panels where we could focus on resilience and bring together as large an audience as possible.”
Sahabi’s advocacy work and his participation “really made him a great partner for the U.S. Resiliency Council,” said Reis. “He’s one of the few individuals I know who understands the public sector and the private sector in such a comprehensive way, and there are few people I know who are better at creating a relationship between very diverse groups of stakeholders.”
These educational programs were designed to enable business owners to make better plans and informed decisions about how to protect their businesses, buildings and employees from earthquakes. The programs also covered how to quickly recover from damage to minimize business interruption, and how much improved resilience may cost initially and ultimately save.
Resilience Advantage showed how advances in the understanding of seismic issues can make businesses and buildings better able to withstand and recover from what can be devastating impacts during major earthquakes. Earthquakes can have devastating impacts on vulnerable buildings, people and the economy, but they don’t have to be disasters. Investing in resilience is good economics and sound business. The webinars showed how actions by businesses can help them become more resilient now and in the future.”
Expert panels also examined specific ways make buildings safer and more resilient. The result of these actions can provide numerous benefits: prevent death, injuries and property losses, preserve jobs and workforce housing, and protect vital services and local economies. Examples were shared of how resilience planning can lead to concrete actions that assist buildings and communities withstand shocks, avoid serious damage and recover more quickly from California’s greatest natural hazard – earthquakes.
Sahabi has extensive involvement in multiple professional, civic and nonprofit organizations including the California Apartment Association, California Building Officials, California Manufacturers & Technology Association, Los Angeles Metropolitan YMCA, Los Angeles Area Chamber of Commerce, Los Angeles County Business Federation, and U.S. Resiliency Council. He is also involved in numerous local apartment associations, chambers of commerce, and Realtors associations.
Sahabi earned a Master of Real Estate Development degree from the University of Southern California School of Urban Planning and Development, and a Bachelor of Science degree in Management from Pepperdine University.
Sahabi and his wife, Aida, live in the Los Angeles area with their two children, Leila and Edward.
Media Contact: Tom Robinson, 3236050312
View original content to download multimedia:https://www.prnewswire.com/news-releases/a-dreamer-who-gets-things-done-302241086.html
SOURCE Optimum Seismics
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
FDA Rejection Of MDMA Could Fuel Black Market Demand, Warns CEO Of Women's Psychedelic Platform SetSet
A Food and Drug Administration (FDA) advisory panel overwhelmingly rejected MDMA-assisted therapy for treating post-traumatic stress disorder (PTSD). in early August, citing significant concerns about the treatment and research process.
Among the primary issues were design flaws in clinical trials, the potential for MDMA abuse and uncertainties surrounding the role of accompanying psychotherapy. The panel also pointed to allegations of misconduct during the Lykos Therapeutics study.
See Also: FDA Rejects MDMA For PTSD Treatment, Calls For More Research On Psychedelic Therapy
For advocates of psychedelic medicine, this rejection is a major setback. April Pride, CEO and founder of SetSet, is among them. “The FDA’s decision to reject the new drug application for MDMA to treat PTSD is a significant setback for the psychedelic medicine community,” she told Benzinga in an exclusive interview.
“This rejection might inadvertently drive the demand for unregulated, unsafe MDMA products on the black market as patients and practitioners seek alternative means of treatment,” Pride added.
Prioritizing Safety: How SetSet Is Driving Progress In Psychedelic Harm Reduction
Pride’s company, SetSet, is addressing these safety concerns head-on. Focused on providing harm-reduction education, SetSet ensures that its female members, many of whom use psychedelics outside clinical settings, have access to safe practices.
“We know that three out of four people take psychedelics outside of a clinical setting, so to ensure safe practices, we provide harm-reduction education created by licensed healthcare practitioners,” she said.
SetSet also offers transparency on testing kits, dosage instructions and therapeutic support – all aimed at reducing the risks associated with psychedelic use.
Pride noted that “one in five people have challenging experiences, and intentional, therapeutic support can help unwind thoughts and feelings.”
She also pointed out that there’s a higher likelihood of difficult psychedelic experiences among women, which can be linked to hormonal fluctuations. “Female hormones are likely the reason that women are more likely to have difficult experiences, so SetSet also educates them about the optimal timing of administration to align with menstruation.”
Urgent Call For Regulatory Reform In Psychedelic Therapy
In response to the FDA’s ruling, Pride advocates for regulatory reforms, insisting that a “specialized regulatory pathway for psychedelics” is necessary, one that allows for an ongoing approval processes.
“This would enable real-world evidence collection while ensuring patient safety rather than requiring absolute certainty before approval,” she explains. Pride also stressed the importance of education and certification programs for practitioners and stricter guidelines for third-party testing to protect consumers from adulterated products.
The Future Of Psychedelic Medicine
Despite the FDA’s decision, Pride says she remains optimistic about the future of psychedelic medicine. While the FDA’s rejection might slow down the industry’s momentum, Pride believes it will spur innovation. “We may see an increased focus on other promising compounds, such as psilocybin and ketamine, which have shown firm safety profiles in clinical trials,” she said.
Pride also foresees efforts to improve drug formulations and safety protocols to address the FDA’s concerns. “For example, one lab is working on an MDMA-like compound that mitigates the challenges of MDMA down-regulation, which speaks to the FDA’s concern with neurotoxicity.”
In the long run, this setback could lead to a more resilient and well-regulated industry. As Pride explains, the industry’s ability to adapt and address these challenges will be key to usher in “transformative treatments to those in need.”
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