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- Warren Buffett Is Issuing a Stark Warning About the Stock Market. Here's What History Says Comes Next.
Warren Buffett has warned that investors are taking on too much risk, likening the market to 'a church with a casino attached' and saying people have never been in a more gambling mood. The article points to the S&P 500 Shiller CAPE Ratio, which has stayed above 40 since May of this year; historically, the only other time it held above that level for months was during the dot-com bubble, when it peaked around 44 before the bear market began in March 2000. The article notes that 40 is not an automatic trigger for a downturn, and no metric can predict timing. It suggests investors focus on quality stocks with solid fundamentals and be ready to hold them for at least a few years.
- More than US$1 billion set to flow into stocks: has the time to deploy arrived?
BSC (BIDV Securities) maintains that valuations across many sectors have become more attractive, making now a reasonable time to allocate to stocks for the medium to long term. Market-wide profits rose 50% year on year in Q2 2026, and BSC raised its 2026 profit growth forecast to 26% and expects 12% growth in 2027. The VN-Index's trailing 12-month P/E, excluding the Vingroup group, is 10.5x, while the 2027 forward P/E is about 9.5x, a discount of nearly 30% to the average. Liquidity remains the main bottleneck, though banking-system liquidity pressure has begun to ease and the probability of rate cuts in 2027 has risen. Foreign outflows are expected to ease, with about VND 33,000 billion (US$1.27 billion) of inflows from the market upgrade expected mainly in 2027.
- 'The Major Ones All End Badly': Pulitzer-Winning Crash Historian on US Stocks at 250% of GDP
Liaquat Ahamed, author of Lords of Finance, warns that $1 trillion of foreign inflows over the past 12 months has pushed US stocks to 250% of GDP, a ratio he says historically precedes collapse. He notes real interest rates rose 150 basis points in 12 months, leaving NVIDIA's 2.32% earnings yield well below the 5.09% 10-year Treasury yield. He compares today's AI buildout to the 1870s railroad boom, when only one in five railroads paid dividends by 1872 before collapsing. The article also cites NVIDIA's roughly $5.2 trillion market cap and $279.00 billion in supply obligations.
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- Amazon blocks agentic AI shopping. But Walmart is betting big that it's worth saying yes.
A Bank of America note led by Christopher Nardone, published Monday, argues Walmart stands to benefit if shoppers hand purchases to AI agents, citing its integration with multiple AI ecosystems, its own shopping assistant “Sparky” and partnerships including Meta's Muse. Walmart, Best Buy (BBY) and Ulta (ULTA) are among Muse's key partners, while some other retailers have blocked it. Amazon has blocked Muse from making purchases on its site and bars automated shopping tools, though it may not be losing much in sales since most people use AI mainly for research. Walmart's management, however, cannot say how popular shopping agents will become, and it is unclear how advertising, a growing business for Walmart, would be affected if screenless computers handle checkout.
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In a note published Monday, Doug Peta, chief US investment strategist at BCA Research, argues the stock market is influencing the economy like never before. US household net worth reached over eight times disposable income at midyear, an all-time high, and the value of household equity holdings is nearly three times annual after-tax income. Peta estimates that a 10% gain in the S&P 500 over a year boosts household spending capacity as much as a 28% raise, making consumption more sensitive to equity moves. That sensitivity cuts both ways, as a future bear market could amplify spending pullbacks because households would feel vulnerable rather than wealthy.
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H.I.G. WhiteHorse, the credit affiliate of H.I.G. Capital, has arranged a debt package to finance QualityHosting's acquisition of Be-Cloud, with QualityHosting being a portfolio company of PSG Equity. The package also provides additional capital for the combined company's future growth and M&A strategy. Be-Cloud, founded in 2012 and headquartered in France, is a leading European Microsoft Cloud Solution Provider with more than 37,500 active end customers and over 1,000 reseller and MSP partners. QualityHosting, a German Microsoft CSP, serves more than 30,000 end customers and has about 1,000 reseller partners.
- Residential electricity prices may be set by peak and off-peak hours
Vietnam's Minister of Industry and Trade, Lê Mạnh Hùng, submitted to the National Assembly on the afternoon of October 20 a draft amendment to the Electricity Law. It would allow retail electricity to be priced by peak, off-peak and normal hours where technical conditions allow, with a roadmap for applying this to residential customers. The draft also sets out a plan to eliminate cross-subsidies between customer groups and proposes incentive pricing for renewable energy, new energy and storage systems. Nguyễn Thanh Hải, chair of the National Assembly's Committee for Science, Technology and Environment, asked that the scope and roadmap for removing cross-subsidies and electricity bill support be clarified, kept separate from direct aid to poor households, and that investment risks not be shifted to the State or the public. The committee also warned that the wording requiring full recovery of costs and reasonable profit could be read as the State guaranteeing investors' financial results.
- HoSE officially announces roadmap for transferring nearly 300 HNX-listed stocks to trading on HoSE
As of mid-October 2026, HNX had 299 listed stock codes with total market capitalisation of about 450,000 billion VND. On 20/10, HoSE announced the roadmap for reorganising trading of listed stocks under Circular 139/2025/TT-BTC, dated 30/12/2025, from the Ministry of Finance. The last trading day for all HNX-listed stocks is 23/12/2026, and the stocks being transferred will be suspended on 24 and 25/12/2026. From 28/12/2026, all listed stocks will trade on HoSE, and listed companies, market members and investors are urged to prepare in advance.
- South Korean IPO plunge deepens AI market jitters as brent tops $111
South Korean data centre company Elice (0158S0) closed at 60,500 won ($45.57) on its debut, down over 30% from its 90,500 won offer price, despite a retail offering oversubscribed more than 400 times. The IPO raised $151 million at a valuation of roughly $755 million, according to Bloomberg. The debut came as the KOSPI dropped almost 4% to 5,552, with Samsung Electronics and SK Hynix also falling, and CoreWeave (CRWV) slipped another 3% in U.S. pre-market trading. Investors are questioning the borrowing costs, debt levels and returns of AI infrastructure spending, while Brent crude topped $111 a barrel, its highest since May, amid Middle East supply and shipping concerns.
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