If you want to invest like Charlie Munger, you're late to the party. The investor's genius in spotting what's become known as the "quality factor"-buying good companies-made a ton of money for him and business partner Warren Buffett. Nearly 50 years on, it might not be such a great time to copy his strategy.

For those who missed the late Munger's brilliance, he's the one who persuaded the billionaire Buffett to shift Berkshire Hathaway's focus from "cigar butt" value stocks-bad companies that no one else wants, and so are cheap-to buying "wonderful businesses at fair prices."

Rift Over Fossil Fuels to Dominate COP28

DUBAI-World leaders gathered for climate talks in this oil-rich corner of the globe amid sharp divisions over how quickly governments need to wean their economies off fossil fuels to prevent the planet from blowing past the Paris accord's temperature targets.

Vice President Kamala Harris was expected to join Brazilian President Luiz Inácio Lula da Silva, French President Emmanuel Macron and a host of leaders from across the Gulf region Friday at the start of a two-day summit to kick off the United Nations' annual climate talks, known as COP28.

George Santos Faces House Expulsion Vote After a Year of Mounting Allegations

WASHINGTON-The House is set to vote Friday on whether to expel embattled Rep. George Santos over allegations the New York Republican stole money from his own campaign and committed other misdeeds, in what would be only the third expulsion from the chamber since the Civil War.

A two-thirds House supermajority is required to remove a member, meaning that 290 votes would be needed to oust Santos if all 435 House members vote. Most Democrats are expected to back expulsion, leaving Santos's hopes in the hands of his GOP colleagues. While many Republicans support the move to remove Santos, some-including Speaker Mike Johnson (R., La.)- have expressed reservations about expelling him before his criminal case has been resolved.

Write to paul.larkins@dowjones.com TODAY IN CANADA


None Scheduled

Economic Calendar [ET]:

0830 Nov Labour Force Survey

0930 Nov Manufacturing PMI

Stocks to Watch:

American Hotel Income Properties REIT Announces Increased Liquidity Under Its Revolving Credit Facility

Cogeco Communications Acquired 99 Spectrum Licenses in the 3800 MHz Band Auction in Canada

Tecsys 2Q Loss/Shr C$0.02; Rev C$41.5M

TELUS Corp Secures New 3800 MHz Spectrum Licences; Bought Licenses for C$620M in Auction; Will Now Hold Licences to an Average of 72 MHz of 3800 MHz Spectrum Nationally; Purchase Helps With 'Unleashing the Full Potential of 5G' and With Reducing 'Digital Divides'

Expected Major Events for Friday

00:01/UK: Nov BRC-Sensormatic IQ Footfall Monitor

00:30/JPN: Nov Japan Manufacturing PMI

05:00/JPN: Nov Auto sales

06:00/RUS: Nov Russian Manufacturing PMI

07:00/UK: Nov Nationwide House Price Index

08:45/ITA: Nov Italy Manufacturing PMI

08:50/FRA: Nov France Manufacturing PMI

08:55/GER: Nov Germany Manufacturing PMI

09:00/ITA: 3Q GDP

09:30/UK: Nov S&P Global / CIPS UK Manufacturing PMI

09:30/UK: 3Q Bank of England external business stats

13:30/CAN: Nov Labour Force Survey

14:30/CAN: Nov Canada Manufacturing PMI

14:45/US: Nov US Manufacturing PMI

15:00/US: Nov ISM Report On Business Manufacturing PMI

15:00/US: Oct Construction Spending - Construction Put in Place

16:00/US: Nov Global Manufacturing PMI

21:00/US: Nov Domestic Auto Industry Sales

All times in GMT. Powered by Kantar Media and Dow Jones.

Expected Earnings for Friday

Avalon Advanced Materials Inc (AVL.T) is expected to report for 4Q.

Bank of Montreal (BMO,BMO.T) is expected to report $2.40 for 4Q.

Clearday Inc (CLRD) is expected to report for 3Q.

Genesco Inc (GCO) is expected to report for 3Q.

National Bank of Canada (NA.T,NTIOF) is expected to report $2.28 for 4Q.

Northern Dynasty Minerals Ltd (NAK,NDM.T) is expected to report for 3Q.

Odonate Inc (ODTC) is expected to report for 3Q.

Vyant Bio Inc (VYNT) is expected to report for 3Q.

Webco Industries Inc (WEBC) is expected to report for 1Q.

Powered by Kantar Media and Dow Jones.


Acadia Realty Trust Cut to Neutral From Buy by Compass Point

Ally Financial Inc Raised to Outperform From Peer Perform by Wolfe Research

Duke Energy Raised to Overweight From Equal-Weight by Wells Fargo

EverQuote Raised to Buy From Neutral by B. Riley Securities

Hewlett Packard Ent Raised to Equal-Weight From Underweight by Morgan Stanley

Hudson Pacific Properties Raised to Neutral From Sell by Goldman Sachs

Immunogen Cut to Neutral From Buy by HC Wainwright & Co.

Okta Cut to Equal-Weight From Overweight by Wells Fargo

Okta Cut to Market Perform From Outperform by TD Cowen

Okta Cut to Sector Perform From Sector Outperform by Scotiabank

Okta Cut to Sector Weight From Overweight by Keybanc

Pinterest Raised to Buy From Hold by Jefferies

QuinStreet Raised to Buy From Neutral by B. Riley Securities

Regency Centers Raised to Buy From Neutral by Compass Point

Snap Raised to Buy From Hold by Jefferies

This article is a text version of a Wall Street Journal newsletter published earlier today.

(END) Dow Jones Newswires

12-01-23 0612ET