Daily Archives: May 6, 2020

The 2020 schedule is almost here.

The NFL will officially drop a full schedule in a three-hour special starting at 8 p.m. ET Thursday, the Schedule Release 20 on the NFL Network, the league announced on Monday afternoon.

The schedule special will include analysis of every teams schedule and divisional breakdowns, along with other presumed top matchups next fall. It will also include, per the release, remote interviews from league coaches and general managers.

The full schedule comes despite the ongoing COVID-19 pandemic, which has brought the sports world largely to a halt in recent weeks. Teams are already participating in virtual offseason training programs, and the league announced earlier on Monday that there will be no international games this season due to the virus.

[ Coronavirus: How the sports world is responding to the pandemic ]

The Miami Dolphins shared their preliminary plan for holding games this fall amid the pandemic on Monday, too. The teams plan, CEO and president Tom Garfinkel shared on Good Morning America, included varied arrival times, exiting by row, ordering food pickups from seats and a reduced attendance capacity.

There were more than 1.1 million confirmed cases of the coronavirus in the United States as of Monday afternoon, according to The New York Times, and more than 68,500 deaths attributed to the virus.

Still, the NFL said over the weekend that it planned to start the season on time with games beginning on Sept. 10.Any changes due to the virus will come later.

If we have to make adjustments, we will be prepared to do so on the latest guidance from our medical experts and public health officials and current and future government regulations, NFL spokesman Brian McCarthy said.

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NFL to release 2020 schedule in 3-hour special on Thursday - Yahoo Sports

As nearly half of U.S. states begin to ease restrictions that were put in place to slow the spread of the coronavirus, the Centers for Disease Control and Prevention is quietly projecting a stark rise in the number of new cases of the virus and deaths from it over the next month.

Modeling from the CDC, incorporated into a chart prepared by the Federal Emergency Management Agency and circulated within the administration, was obtained by the New York Times. It projects 200,000 new daily cases of the coronavirus by the end of May and 3,000 daily deaths in the U.S. At present, approximately 25,000 new cases are reported each day, with roughly 1,750 deaths.

Without disputing the accuracy of the modeling used by the CDC, the White House quickly distanced itself from the projections.

This data is not reflective of any of the modeling done by the task force or data that the task force has analyzed, White House deputy press secretary Judd Deere said in a Monday statement. The presidents phased guidelines to open up America again are a scientific-driven approach that the top health and infectious disease experts in the federal government agreed with.

Despite the growing risk of exposure and death from COVID-19, many states are proceeding with a relaxation of restrictions that were meant to slow the spread of the virus, which have brought the nations economy to a virtual halt. Those moves in states like Georgia and Texas do not follow the phased federal guidelines issued by President Trumps coronavirus task force on April 16.

The guidelines were announced at a White House press briefing, where Trump proclaimed that now that we have passed the peak in new cases, were starting our life again, were starting rejuvenation of our economy again, in a safe and structured and very responsible fashion. There were 32,076 new cases in the U.S. on that day, a number that has been exceeded on at least four days since.

While the implementation was left to the discretion of state governors, the guidelines were clear that no state should attempt to ease restrictions until it had observed a downward trajectory of new cases of the virus over a 14-day period. Yet, as of this weekend, no state in the nation could make that claim.

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On Fox News Sunday, anchor Chris Wallace pressed Dr. Deborah Birx, one of the leading health experts on the coronavirus task force, on that point.

Not a single state has met the White House gating guidelines of two weeks of steady decline in new cases. Are you concerned about this patchwork reopening, and why leave it up to the governors? Wallace asked Birx. Why not set a firm, if not binding, a firm national policy on when states can reopen?

Well, I think federal guidelines are pretty firm policy of what we think is important from a public health standpoint, Birx responded. We also made it possible for states to open counties independently of the entire state, because, again, some of these outbreaks are very local and have to be studied and understood that way.

Reopening the country without ramping up testing, building an army of contact tracers or having a plan in place to isolate those who test positive for the virus is certain to result in a spike of new cases, numerous health experts have warned.

Yet at least 26 states intend to test that prediction, many of them starting this week.

Georgia became the first state to lift coronavirus restrictions when Gov. Brian Kemp announced on April 20 that he would allow businesses like massage and tattoo parlors, hair salons, gyms and bowling alleys to reopen on April 24. Three days later the state further loosened restrictions, allowing restaurants and theaters to reopen.

Before his announcement, Kemp informed Trump of his decision on a conference call between the president and the nations governors. On that call, Trump was heard praising Kemp for doing a great job.

But after Kemp was sharply criticized for lifting the states restrictions too soon, Trump said he was unhappy with the governor.

I want them to open, and I want him to open as soon as possible, Trump told reporters on April 24. And I want the state to open. But I wasnt happy with Brian Kemp. I will tell you that right now.

Since moving to reopen the state, Georgia has continued to see a high number of new cases, with 1,000 reported on Friday and another 999 on Saturday. Despite the new data, Kemp let his shelter-in-place restriction for residents expire on Monday.

As this public health experiment has taken place, the risk of exposure to the virus for Georgia citizens has risen by 42 percent, according to data compiled by Stanford Universitys COVID-19 Case Mapper.

Similarly worrying figures have been reported in Texas, where Gov. Greg Abbott lifted stay-at-home orders last weekend. In a tweet posted Sunday, the governor sought to emphasize what he saw as a bit of good news about the number of people in the state who have recovered from COVID-19.

Yet Sunday also marked the fourth straight day that the state tallied more than 1,000 new cases of the virus. Far from showing a 14-day decline in new cases, Dallas County reported Sunday its highest daily tally so far, with 234 new positive results.

And while Abbott is correct that on Saturday and Sunday Texas reported a higher number of people who had recovered from the virus than were still infected by it, Texas ranks 49th among states for per capita testing for the coronavirus. As of Monday, the state, which has a population of 29 million, said 407,398 tests had been administered. More testing would certainly reveal a much higher number of active cases, health experts say, and the overall number of cases continues to grow. As of Monday, 32,332 Texans had tested positive, up from 25,297 a week earlier.

Given the Trump administrations own internal projections, states across the nation can expect to see many more cases and deaths in the days ahead.

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Click here for the latest coronavirus news and updates. According to experts, people over 60 and those who are immunocompromised continue to be the most at risk. If you have questions, please refer to the CDCs and WHOs resource guides.

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As states push ahead with reopening, CDC warns coronavirus cases and deaths are set to soar - Yahoo News

Clorox chairman and CEO Benno Dorer is working nearly around the clock, fitting in a meal or two, squeezing in some family time, getting a wee bit of rest and then rinse and repeating that routine.

Suffice it to say, its very busy days at 107-year-old bleach and disinfecting wipe maker Clorox as the world continues to battle through the COVID-19 pandemic.

For Clorox, that has meant enduring through insane levels of demand by shoppers for bleach (have to wash those cloth face masks), disinfecting wipes (have to wipe down the counters 25 times a day), Fresh Step cat litter (cant keep running out for the stuff during stay-at-home orders, and cats have to use the bathroom too during a pandemic) and Hidden Valley salad dressings (yes, Clorox owns that Hidden Valley dressing you have used on some kind of packaged food of late).

Even with factories cranking at full speed and Clorox investing in new capacity, Dorer concedes in an interview with Yahoo Finance that consumer demand continues to outstrip supply. That situation may not stabilize until the summer, Dorer suggests, as households settle into their new disinfecting routines and more steadily buy cleaning products instead of the panic hoarding seen in March and into April at Walmart, Target and on Amazon.

So if you go to stores, we're shipping to our stores every single day. But what we're shipping is pretty much scooped up right away. So it's gone after a few minutes, Dorer explains. Clearly there's an unprecedented demand spike for some of our products, in particular wipes. We've seen spikes of up to 500% in terms of demand and no supply chain in our industry is built to satisfy that demand increase in a short period of time.

Dorer adds, We have significantly increased our production we've done so by simplifying our lineup, which allows our lines to run faster, turning out 40% more products last quarter than we did in the previous years quarter. We're activating third-party suppliers who produce for us to help us. And we're investing in further capacity. So we continue to find new ways to speed up our lines and find capacity. And we think that there's going to be substantial improvement this summer. It's going to be touch and go until then, unfortunately, but help is on the way and I think should ease up in the next few months.

Clorox brand products line the shelf of a supermarket in the East Village neighborhood of New York. (AP Photo/Mary Altaffer, File)

Cloroxs latest financials underscore the new reality its navigating. Its a reality highlighted by consumers paying more attention to personal hygiene and cleanliness standards at home and using Cloroxs disinfecting products (and yes, those from the likes of P&G, etc.) to do so. Its a reality where businesses are opening their wallets big-time to disinfect offices to support the return of workers...and ultimately keep them safe and COVID-19 free hopefully for months.

Fiscal third quarter sales exploded 15% from the prior year. Volume surged 18%. Organic sales blew up 17%. Earnings soared 31%. Sales and pre-tax earnings in Cloroxs important cleaning segment increased an impressive 32% and 71%, respectively. These are growth rates that would have been unimaginable at this point last year but may become the new medium-term norm at a Clorox settling into a post health pandemic world.

For its full fiscal year that ends in June, Clorox sees organic sales growth of 6% to 8%. Earnings are expected to be up 6% to 9%. The probability is high Clorox outlines double-digit growth for sales and earnings for its new fiscal year when it reports earnings again sometime in early August.

Clorox shares have reflected the new world it lives in the stock is up 30% this year versus the 13% drop for the S&P 500. P&G shares are down 7% year-to-date, whereas Church & Dwight is up only 2%.

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JPMorgan analyst Andrea Teixeira believes Clorox will play an integral role in fighting off COVID-19 and remains bullish on the stock.

On May 3, Clorox celebrated its 107th birthday. Dorer says the mission of the company is the same today as it was back then serve the public.

We have a proud history started by making disinfecting products available to the broad public in service of public health. And never has that mission been clear than it is today, Dorer points out.

So true indeed.

Brian Sozzi is an editor-at-large and co-anchor of The First Trade at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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Clorox has seen 500% increases in demand during the COVID-19 pandemic: CEO - Yahoo News

The once-bustling New York Stock Exchange trading floor could become a thing of the past once New York Citys coronavirus lockdown ends, one Wall Street veteran said on Tuesday.

After the COVID-19 crisis forced the Big Apple to adopt strict stay-at-home orders, the NYSE went fully electronic, with many traders and staff working remotely. With New York City still experiencing high infection rates, theres no telling when things will get back to normal.

And Alan Valdes, senior partner at Silverbear Capital, believes the longer the iconic floor stays closed, the less people it may need when it re-opens.

Im busier now because I dont have any clerks to help me, Valdes told Yahoo Finance in an interview, explaining how hes more productive working at home.

Im busier now doing our trades electronically than when we were on the floor, and ... were making more of a profit, Valdes said adding hes now used to working from home.

I actually like it. Ive got all my screens up here, he said. So its working, and its working very well.

The NYSEs floor has been closed for over a month now, having moved to fully electronic trading for the first time in history on March 23rd (the day the markets sank to their 52-week lows.)

Meanwhile, the COVID-19 crisis is hastening a shift thats been underway for years: Automation has already transformed the Big Boards iconic trading floor from its heyday, whittling down the number of active brokers on the exchange.

Still, Wall Streets most photographed broker recently announced he beat the coronavirus and is ready to go back. While NYSEs president has insisted the floor will reopen although no date has been announced yet Valdes has his doubts.

The problem for the exchange is there's no social distancing on the floors, the trader told Yahoo Finance. Even though the floor has less traders than it did years ago, the booth layouts create a close working environment thats ill-suited for the post-coronavirus normal.

People are next to each other six feet? They're six inches away from each other, he argued. I think that's going to be a problem reopening.

Valdes also believes traders may think twice before going back.

Myself, Im saying, I dont know if its worth coming down, he said. Until they come up with a vaccine I dont know how they can really open.

[Read More: Stock market news live updates: Stocks rise, with some states' reopenings under way]

Ines covers the U.S. stock market from the floor of the New York Exchange. Follow her on Twitter at@ines_ferre

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NYSE trading floor vet on why hes much more productive and profitable working at home - Yahoo Money

It is no secret, US airplane giant Boeing (BA) has suffered badly at the hands of COVID-19, with one piece of bad news following the other. But with Boeing shares still down by 60% year-to-date, might now be the right time to pull the trigger on BA stock?

Not quite, says Canaccords Kenneth Herbert. The 5-star analyst believes there are too many variables to consider and expects Boeings commercial services business to drop by more than 50% in 2Q20 and likely at very depressed levels for the rest of 2020.

It should come as no surprise, then, that Herbert rates Boeing shares a Hold. In fact, Herbert had maintained his Hold rating on the stock since 2016. The good news for new investors is that Herbert's $175 price target implies a 40% upside from current levels. (To watch Herberts track record, click here)

Boeing has a lot of issues to contend with, as highlighted in the companys recent earnings statement, and that is even before taking into consideration the long-term grounded Max 737. Cancelled orders, jittery investors on account of a suspended dividend, significant pandemic driven lower demand, an industry in tatters with uncertainty on the horizon, all weighing down on the company.

But there were glimpses of hope in the quarter. Despite losing $1.35 billion, and spending $4.7 billion in the process, the cash burn was not as bad as estimated, coming in below the $5 billion-plus many analysts anticipated ahead of the report. And although the company ended Q1 with $39 billion of debt, it saw out the quarter with $15.5 billion in total cash.

Boeing has also taken steps to reduce costs, with the intention of cutting loose 10% of its workforce along with adjusting its commercial airline output to match the current lower demand. But it is clear the company will need to raise cash and management have said it continues to explore options. Additionally, based on its current outlook, the company anticipates being FCF positive in 2021, and expects a more normal environment to resume by 2022 as production rates stabilize.

Herbert summarized, We believe that until investors get greater confidence in Boeings liquidity, and in the pace of the expected recovery in travel, the stock will see limited upside. We believe the risk around future production schedules continues to be biased to the downside, even with the substantial cuts announced by the company. We appreciate the implied upside in our $175 target could justify a more positive rating. However, with the current volatility in the stock, we are seeing much greater than normal movement and temporary price dislocations.

All in all, when considering BAs prospects, the rest of the analyst communitys views are a mixed bag. A Moderate Buy consensus rating is based on 6 Buys and 13 Holds. Although, with an average price target of $183.11, the Street anticipates upside of 37% in the year ahead. (See Boeing stock analysis on TipRanks)

To find good ideas for stocks trading at attractive valuations, visit TipRanks Best Stocks to Buy, a newly launched tool that unites all of TipRanks equity insights.

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Is Now the Right Time to Invest in Boeing Stock? 5-Star Analyst Weighs In - Yahoo Finance

Gareth Evans new action-drama series Gangs of London has landed on Sky Atlantic but its not the first time the The Raid director has been associated with all-out, highly-choreographed action vehicle.

In an exclusive interview with Yahoo Movies UK, Evans has spoken candidly about the DC Comics Deathstroke movie he was attached to direct back in 2017, and why it hasnt materialised.

I was actually quite enthused and excited about [Deathstroke] back in the day, when it was first pitched to me. I met with them, and talked to them about it, and was certainly attached to it at a certain point, Evans tells Yahoo.

Magic Mike star Joe Manganiello was introduced as supervillain Deathstroke in the post-credits sequence of 2017s Justice League. Arriving on Lex Luthors yacht after the events of the movie, the masked villain is asked by Jesse Eisenbergs bald baddie to set up their own an anti-Justice League team.

The scene appeared to be setting up the masked merc (real name Slade Wilson) and his own league of villains to appear in the upcoming DC extended universe, which at the time included the Ben Affleck-starring Batman solo movie.

However, with that version of the extended DC universe now not happening, with Robert Pattinson recast as Batman and Matt Reeves taking over to direct The Batman for a slated 2021 release, it appears that Joe Manganiello probably wont be cast as the villain anymore either.

I've spoken to Joe Manganiello, who was attached to star as Deathstroke, Evans tells us. I spoke to him a while back, and we both lamented the fact that it didn't happen. But yeah, I don't really have much more than that, in terms of anything lately on it.

Read more: Eisenberg keen for Lex Luthor return

The plan was, I wanted to tell something that would be a lean story, that would be kind of an origin of that character. Something that felt like it could be 100 minutes or 110 minutes long, max not to go over the two hour period with it, says Evans.

Actor Joe Manganiello attends The Hollywood Reporter's annual 35 Most Powerful People in Media event at The Pool on Thursday, April 12, 2018, in New York. (Photo by Evan Agostini/Invision/AP)

The heightened, highly stylised take on London in Gareth Evans Gangs of London Evans removed major landmarks from the London skyline, for example offers a hint at the world design that might have existed in his take on Deathstroke.

Back then, I was massively influenced by the noir films coming out of South Korea, so that was my pitch. I was like, these films are amazing: the texture, and the tones of colours, the grit and the aggression of them is super interesting to use to tell Deathstroke's story.

Despite not getting far in the project, Evans did research which Deathstroke comic book arcs he would want to use for the big screen origin story.

I'll be the first one to admit it, I'm not a massive comic book or superhero fan, but something about Deathstroke interested me. I did some reading into it not enough to make real hardcore fanboys happy but I tried my best to consume as much as I could in the time that I was on it, for a bit, Evans tells us.

Director Gareth Evans attends "Meet The Filmmakers" at Apple Store Soho on March 17, 2014 in New York City. (Photo by D Dipasupil/FilmMagic)

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When I read up on it, there were about three different versions of how his character originated, explains Evans, And so I thought we could do something quite Shakespearean, in terms of how he loses his eye, and how he gets created as the character that he is.

Of course, wed also expect tightly choreographed, Indonesian-inspired martial-arts fight scenes, as Evans currently exhibits in Gangs of London and became known for with his seminal martial arts movies The Raid, The Raid 2 and Menantau.

Read more: Gareth Evans talks Gangs of London

We had ideas of the kind of style that we would have gone for with that, which would have married some of the more grounded style that I have, Evans tells us, but then because of the world of it, it would allow me to be a bit more flamboyant and a bit more stylised. We could have taken it in some really interesting areas.

We had some pretty bold ideas there that could have been really visceral and really fun, reflects Evans, But, yeah, I don't know. Who knows? They might come back again in five or ten years time, you never know.

I don't know what exactly happened. I think there might have been a change of personnel, as happens quite a lot in big US studios. I think that project just stopped being a priority for them. It never really went further than two or three phone calls. I've never heard anything since, so I just presumed that project was either on the back burner somewhere, or someone else might be doing it.

Read more: Gareth Evans shares Raid 3 concept

Gareth Evans next project, after Gangs of London, is a Christmas film, Havoc, which he is writing now. Weve already done a lot of the action design for it, and it's pretty crazy and relentless. But it's got a lot of heart in there, which I'm really excited about, the director revealed to Yahoo.

It's more of a sort of mainstream take on what I've done before, but still has all the edge and the fun that comes along with it.

All nine episodes of Gangs of London are available to watch now on Sky Atlantic and NOW TV.

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Gareth Evans reveals pitch for his 'lean, visceral' Deathstroke movie that never happened (exclusive) - Yahoo Finance UK

Now that the 2020 NFL draft is complete and most of the major free agency moves have been made, its time to look back at each teams most pressing positional need and whether or not it was met, according to Yahoo Sports Frank Schwab (NFC selections) and Terez Paylor (AFC selections).

Heres a look back at what they identified as each teams biggest needs: NFC East | NFC North | NFC South | NFC West | AFC East | AFC North | AFC South | AFC West

(Albert Corona/Yahoo Sports)

Most teams made strategic moves to fill out their rosters in areas of the greatest need. A host of teams were in the market for depth in their wide receiver corps, with one notable team failing to address that need (cough, Green Bay Packers, were looking at you).

The Packers instead chose inexplicably to draft quarterback Jordan Love instead of finding their current starting QB, Aaron Rodgers, some weapons.

A handful of other teams havent fulfilled their greatest needs either.

The New England Patriots are trying really hard to sell us on the fact that they have their quarterback of the future in Jarrett Stidham. Yet, Cam Newton is still a free agent, as an example, so lets consider that need unmet.

Around the league, the New York Jets continue to be the New York Jets, failing to secure their greatest offseason need: offensive tackle. The Los Angeles Rams are still searching for O-line help, while the Carolina Panthers and Jacksonville Jaguars both need cornerback depth. The Tennessee Titans are in need of EDGE help as they look to push and eventually replace free agent signee Vic Beasley, who is on a one-year deal.

Also, is anyone surprised that Bill OBriens Houston Texans are on the needs not met list?

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Did NFL teams meet their top offseason roster needs? Here's a look back - Yahoo Sports

Business closures and layoffs across the U.S., along with a gross domestic product that turned negative for the first time since 2014, have raised concerns about the depth and length of the recession that the U.S. likely finds itself in amid the novel coronavirus.

One challenge with defining a recession: It can only be declared after data can confirm that theres been one. As a result, the country may already be in recession that wont be officially declared until months from now.

The r-word has raised a number of questions: what is a recession, who gets to define it, and how do we know if we are in one right now?

A recession is generally perceived to be two consecutive quarters of negative growth in U.S. production, measured as real GDP.

But the National Bureau of Economic Research, which has a dating committee dedicated to declaring recessions, makes it clear that there are other criteria that can constitute a recession. The committee looks for a significant decline in economic activity across an economy, which covers not just GDP but factors like real income and employment, as well as retail and manufacturing sales.

For example, the dot-com bubble in 2001 was an NBER-defined recession even though there were not two consecutive quarters of negative GDP growth. But gross domestic income contracted for three consecutive quarters, which led the NBER to ultimately declare the period an official recession.

Because the NBER relies on backward-looking data to determine the state of the economy, declaring a recession can take as long as 11 months. That was the case for the financial crisis; the NBER declared on December 1, 2008 that the recession had started almost a year earlier, in December 2007.

One reason why calling a recession can take so long: in order to determine the beginning of a period of significant decline, the committee has to identify the peak of economic activity at which the recessionary conditions began gripping the economy.

By definition, that means the committee has to wait for months or quarters of data showing negative effects before it can determine that a specific point in time was the peak of the now-compromised economic cycle.

Sometimes economic conditions make it easier to determine that the economy has fallen from its peak. The Volcker shock of 1981, which triggered a nearly year-and-a-half recession, was only six months deep when the NBER declared July 1981 as the peak.

The consensus appears to be that the U.S. is already in one.

Goldman Sachs wrote April 27 that GDP figures for Q1 2020 will likely be the weakest in a decade, thus confirming an economy already in deep recession.

Economists were saying since March that the U.S. may have already slipped into a recession.

San Francisco Fed President Mary Daly told Yahoo Finance on March 31 that a downturn is unavoidable when millions of people are losing their jobs.

What we do know for sure is that if we're not already in the recession right now, we will be and I expect we already are, Daly said.

Wells Fargo wrote March 25 that it expects the deliberate stoppage of large portions of the U.S. economy to negatively impact all four of the NBERs evaluation criteria: real production, real income, employment, and sales.

The U.S. economy is headed for imminent recession even if the four indicators used by the dating committee at the National Bureau of Economic Research do not yet show it, the Wells Fargo note stated.

A man walks past mannequin heads wearing masks in the window of a small boutique advertising availability of masks, gloves, and other pandemic necessities amid the Coronavirus outbreak in Arlington, Virginia, on April 27, 2020. (Photo by Olivier DOULIERY / AFP) (Photo by OLIVIER DOULIERY/AFP via Getty Images)

Among the 32 recessions defined by the NBER (dating back to 1857), the average length of a recession is 17.5 months.

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The NBER has the same protocol for declaring the end of a recession as it does for the beginning of one.

It relies on months or quarters of data to determine that the economy reached the bottom, or the trough, of the recession. During the process, the NBER looks at the same criteria that it used when declaring an economic peak.

The same lag applies to declaring a trough. For the last financial crisis, the NBER declared the trough as having happened in June 2009, but did not come to that conclusion until well over a year later, in September of 2010.

Brian Cheung is a reporter covering the Fed, economics, and banking for Yahoo Finance. You can follow him on Twitter@bcheungz.

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Despite the stock market volatility in recent months set off by the coronavirus pandemic, the Oracle of Omaha declared passive investing isnt dead.

Warren Buffett stood by his defense of index funds, which are mutual funds that track market indices, such as the Standard & Poors 500 index. These investments arent actively traded by a wealth manager.

If you say the day of investing in America is over, I would disagree quite violently, Buffett said during the 2020 Berkshire Hathaway Annual Shareholders meeting. Theres something special about index funds.

Warren Buffett, CEO of Berkshire Hathaway, speaks to the press as he arrives at the 2019 annual shareholders meeting in Omaha, Nebraska, May 4, 2019. (Photo: JOHANNES EISELE/AFP via Getty Images)

He remains so passionate about index funds that its a key component of his estate planning.

Well I can tell you I havent changed my will and it directs that my widow would have 90% of the funds in index funds, Buffett said. I think its better advice than people are generally getting from people that are paid a lot to give advice.

Buffett extolled the low fees offered by index funds along with their profitable performance. He also alluded to some financial advisors who focus more on selling investments than seeing them grow.

Buffett alluded to some financial advisors who focus more on selling investments than seeing them grow. (Photo: Getty Creative)

One side has high fees and they think they can pick out stocks and the other side has low fees, Buffett said. I know which side is going to win over time.

A recent study by Index Fund Advisors, an investment firm that showed that just two of Vanguard's actively managed funds could outperform the market.

While he said not all advisors dont know what theyre doing, he cautioned investors to understand that many are sales-driven.

Youre dealing with an industry where it pays to be a great salesperson, Buffett said. Theres a lot more money in selling than in actually managing, if you look into the essence of investment management.

Dhara is a writer forCashayand Yahoo Money. Follow her on Twitter@dsinghx.

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Buffett: 'I would disagree quite violently' with notion that passive investing is dead - Yahoo Finance

Real, live sports on TV! To prepare, heres a primer on the Korea Baseball Organization.

The KBO began playing in 1982, and is Koreas oldest team-based sports league. Its also the most popular, starting with six teams and expanding to 10 by 2015.

Each season consists of 144 games, and every team plays each other 16 times over the course of the year. This is different than MLB, primarily because there are fewer teams. Every MLB team doesnt face every other team during the season, and the number of games played varies depending on scheduling, league, and division.

The same goes for the playoffs, too fewer teams means a different structure, but the KBO is even more different, choosing to put a greater emphasis on regular season results. The top five teams make the playoffs, and the top three teams get byes of varying lengths. The team with the best record in the KBO gets an automatic bye until the best-of-seven Korean Series, which is the KBOs yearly championship series.

To kick off the four-phase playoffs, the fourth- and fifth-place teams face off in a best-of-three series, but theres an interesting wrinkle: the fourth-place team gets an automatic 1-0 series lead, meaning it could be over in just one game. The winner of that series plays the third-place team in the best-of-five quarterfinals, and that winner plays the second-place team in the semifinals. The well-rested first-place team takes on the only other team left standing in the Korean Series.

The KBO is known as a high-offense league. At the end of the 2018 regular season, the league-wide batting average was .286. Over in MLB during the same season, the league-wide batting average was .248 a difference of nearly 40 points! Such an active offensive environment affects pitching as well. An average KBO ERA in 2018 was 5.17, while in MLB it was 4.15.

The reason were looking at stats from 2018 is because the KBO introduced a new de-juiced ball in 2019 that was meant to dampen some (but not all) of the sky-high offense that the league is known for. It did succeed in that, and because the KBO intentionally announced that it was changing the ball, everyone knew what was going on from the start. (MLB should take a few notes.) The overall KBO batting average for 2019 was .267, a 20-point drop from 2018. Pitchers fared even better, with the average ERA falling an entire run to 4.17.

The slight (intentional) drop in offense hasnt changed the spirit of the KBO. Being a league with a history of lots of hits and home runs means a culture of bat flips has been cultivated and nurtured. The KBO is the home to some of the worlds most enormous and impressive bat flips.

Beyond the run-scoring environment, the main differences between the KBO and MLB are the designated hitter and the existence of ties. In the KBO, the designated hitter is universal across all 10 teams, meaning theres no switching depending on the park theyre playing in. Games are also declared a tie after 12 innings of play.

Every team has a few foreign-born players, but unlike MLB, there are restrictions on how many can be on a teams roster. Each club is limited to just three.

Now to meet the teams. Heres a rundown of the KBOs 10 clubs, based on the order they finished in 2019. (Youll note that KBO teams are named not for their geographic areas, but for the corporation that owns them.)

Hometown: Seoul

Owned by: Doosan, a massive South Korean conglomerate that deals in construction equipment, electrical power, and infrastructure, among many (many) other things.

Mascot: A steel robot bear.

Are they good? Yes they are. The Bears, based in Seoul, were the 2019 KBO champions, winning the Korean Series for the third time in five years. The Bears were also won the very first Korean Series back in 1982, the KBOs founding year.

Former MLB players: Raul Alcantara, Jose Miguel Fernandez, Chris Flexen

Hometown: Incheon

Owned by: SK Group, an enormous South Korean conglomerate thats involved in the chemical, petroleum, and energy industries, as well as mobile wireless, high-speed internet, construction, shipping, and more.

Mascot: The Wyverns use the goddess Athena and an owl, but they also use their namesake, a wyvern, which is a mythical two-legged dragon that has a snake tail. To celebrate the opening of the 2019 season after winning the 2018 Korean Series, the team used augmented reality to bring a wyvern right into the stadium. It looks fun yet also terrifying.

Are they good? Mostly. The Wyverns, founded in 2000, won three Korean Series titles in four seasons between 2007 and 2010, and have made the playoffs six times since then. They also have third baseman Jeong Choi, one of the best infielders of his generation. Hes 33 and about to start his 16th KBO season.

Former MLB players: Nick Kingham, Ricardo Pinto, Jamie Romak

Owned by: Not a conglomerate! The Heroes are the only KBO team not owned by a giant conglomerate or company, and is instead owned by a group of individuals. They sell the naming rights for the team, which belonged to Nexen Tire from 2010 to 2018, and now belong to Kiwoom Securities.

Hometown: Seoul

Mascot: A guardian robot named DomDomI, and two silver hero creatures named Dongeuli and Tuckdori or Teokdori, which apparently translates to Mr. Jaw. A video of this mascot dancing at a game might give you a clue as to why.

Are they good? They are now. The Heroes, reborn in 2008 from the ashes of the defunct Hyundai Unicorns, are continuing to reap the benefits of a long rebuild that wasnt exactly voluntary. It began in 2008 when the team was forced to trade star players for cash to pay the remainder of its new team founding fee to the KBO. The rebuild ended after the 2012 season and in the seven years since, theyve made the playoffs six times but theyve never managed to win the Korean Series.

Former MLB players: Jake Brigham, Eric Jokisch, Taylor Motter, ByungHo Park

Hometown: Seoul

Owned by: Multinational South Korean conglomerate LG Corporation. LG operates in chemicals and telecom, but is known in the US for electronics.

Mascot: Baseball robot twins Lucky and Star

Are they good? Occasionally. Theyre one of the KBOs original six teams (they played as the MBC Blue Dragons from 1982-1989), but theyve won the Korean Series just twice (1990 and 1994). Since their last championship theyve been all over the place, including a rough, decade-long stretch of zero playoff appearances and zero winning seasons. Theyve made the playoffs twice in the past five years, including a trip to the quarterfinals in 2019.

Former MLB players: Casey Kelly, Hyun-Soo Kim, Tyler Wilson

Hometown: Changwon

Owned by: NCSoft, a South Korean video game developer responsible for games like Blade & Soul, Guild Wars, Lineage, and Master X Master.

Mascot: Dendi the tyrannosaurus and Seri the brontosaurus. Dendi can seriously dance, and Seri looks awesomely weird with his crazy giant neck and enormous arms.

Are they good? Yes, mostly. The Dinos, Eric Thames former KBO team, have only existed since 2013 and havent won any championships yet. Theyve gotten close though, making it to the playoffs in just their second year of existence and all the way to the Korean Series in 2016. Theyve actually made the playoffs in all but two of their seven seasons, and should have two of their superstars, outfielder Sung-bum Na and catcher Eui-ji Yang, ready to start the season.

Former MLB players: Aaron Altherr, Drew Rucinski, Mike Wright

Hometown: Suwon

Owned by: KT Corporation, the largest telephone company in South Korea. KT also deals in wireless telecom and high-speed internet.

Mascot: Adorable, big-mouthed monsters Vic and Ddory, whose names are meant to be pronounced together as victory. When the team was founded in 2013, this is the video the team released to introduce the world to Vic and Ddory.

Are they good? Historically (which only goes back to the teams first season in 2015), the Wiz have been pretty bad. They finished dead least in 2015, 2016, and 2017, and improved one spot to 9th place in 2018. Their 6th place, 71-71-2 finish in 2019 is the best in the teams entire (short) history. They finished just two games short of making the playoffs for the first time, and could make that leap into uncharted territory in 2020.

Former MLB players: William Cuevas, Odrisamer Despaigne, Jae-Gyun Hwang

Hometown: Gwangju

Owned by: The Kia Motors Corporation, the enormous automotive manufacturer.

Mascot: A male tiger and a lady tiger. The animated versions have the male tiger as a baseball player and the lady tiger as a cheerleader with a small crown on her head, but in costume theyre just very, very energetic dancers.

Are they good? Not really. Though they are the most successful team in KBO history with 11 Korean Series titles, only two of them have come since 2000. While the most recent was in 2017, their last few seasons havent inspired a ton of confidence. They made the playoffs in 2018 but got bounced in the first round, and they finished in seventh place in 2019. Looking at the last 20 years, theres more mediocrity than championships.

Former MLB players: Aaron Brooks, Drew Gagnon, Preston Tucker, Matt Williams (manager)

Hometown: Daegu

Owned by: Cheil Worldwide, a subsidiary of Samsung. Cheil is a marketing company and advertising agency with clients like Lego, GE, Nestle, and Microsoft.

Mascot: A male lion named Bleo, a female lion named Pinkleo, a girl lion named Lenny, and a little boy lion named Laon. This ragtag group (or possibly family?) of baseball-obsessed lions are from another planet, Theres a six-minute compilation of their in-person antics on Youtube, and since were all hurting for sports-based entertainment, give it a watch.

Are they good? Not now, but they have a history of excellence. Theyve appeared in 17 Korean Series since 1982, more than any other team, and their eight championships are more than every team but one. They also won four straight Korean Series from 2011-2014, but its been pretty bleak since then. They havent been to the playoffs since 2015.

Former MLB players: David Buchanan, Ben Lively, Seunghwan Oh, Tyler Saladino

Hometown: Daejeon

Owned by: Hanwha Group, which originally started in explosives and expanded into chemicals, construction, and financial services.

Mascot: Two eagles that are red-orange to symbolize fire, which pays tribute to Hanwhas beginnings in explosives. They look a little bit like chickens, dont they?

Are they good? No. The Eagles have existed since 1986 and won the Korean Series in 1999, but theyve made the playoffs just once since 2008. Even though that happened in 2018, they immediately went back to losing after a surprising third-place finish. They finished ninth in 2019.

Former MLB players: Chad Bell, Jared Hoying, Warwick Saupold

Hometown: Busan

Owned by: Lotte Corporation, which owns businesses in the fast food industry, candy manufacturing, hotels, construction, industrial chemicals, and more.

Mascot: A giant was their mascot from 1982 until 2006, but then they changed to two seagulls named Pini and Noori.

Are they good? No, they are not. They have a run of playoff appearances in the recent past, but no championships beyond their two in 1984 and 1992. From 1997 to 2007 they finished in eighth place six times and seventh place two times. Their forecast for 2020 isnt so bleak, as theyre hoping for bounce-back years from several of their players.

Former MLB players: Dae-ho Lee, Dixon Machado, Adrian Sampson, Dan Straily

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A KBO primer: Here's what you need to know to enjoy the return of baseball in South Korea - Yahoo Sports