Wealthion - Be Financially Resilient

The Week’s Top Market Stories You Can’t Miss | ft. Peter Boockvar | Rise UP!

11 snips
Jan 11, 2025
Guest
Peter Boockvar
In this engaging discussion, Peter Boockvar, Chief Investment Officer for Bleakley Financial Group and editor of The Boock Report, delves into the hefty financial toll of the Los Angeles wildfires, highlighting $57 billion in insured losses. He analyzes the Federal Reserve's 2025 rate strategy and its implications for investments. The conversation shifts to the cocoa crisis, with Boockvar detailing Hershey's challenges amid soaring chocolate prices. The experts tackle pressing questions on tariffs and portfolio strategies to navigate market uncertainty.
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ANECDOTE

California Fires Devastate Los Angeles

  • The California fires in Los Angeles have caused significant devastation, impacting both people and businesses.
  • The fires are three times larger than the recent Hawaiian fires and have already caused an estimated $57 billion in insurance losses.
INSIGHT

Growing Threat of Catastrophic Fires

  • Catastrophic fire damage to property has increased in the last 20 years.
  • Insurance coverage is becoming a significant challenge, with rising costs and limited coverage options.
ADVICE

Rebuilding and Insurance Considerations

  • Consider the cost of rebuilding and insurance when deciding whether to stay or relocate after a fire.
  • California needs to make insurance economically viable for companies.
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