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Utility stocks tanked hard starting in mid-November on worries about rising interest rates, which can be bad for supposed “bond proxies” like utes. The broad Utilities Select Sector SPDR Fund (
Yieldcos, which operate wind, solar and other power-generation facilities, spin off most of their steady earnings to shareholders.
Warren Buffett, chairman and CEO of Berkshire Hathaway (BRK.B), is renowned for his ability to find bargains, but with markets at record highs, cheap stocks are getting tougher and tougher to find.
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