China has restored its annual economic growth target, setting it at above 6% for 2021 and promising to create more jobs in cities than last year, as it emerges from a Covid-hit 2020.

Warren Buffett has again reminded investors – large and small – about the costs of following fashionable investors and styles and not being like him: consistent.

With the Australian December half earnings reporting season having wrapped, confirming a sharp rebound in profits and dividends, now the tough stuff starts.

Warren Buffett has again explained how share buyback can be used to not only benefit shareholders from the original transaction, but how to use it to leverage off the buybacks of other companies.

It’s the usual busy start of the month data drop around the world – this time against a backdrop of roiling markets confused about inflation, and in some cases, investors believing their own fairytales.

Berkshire Hathaway’s buyback of around 5% of its issued capital this year is a big sign Buffett considers the company a better growth prospect than the rest of the US stockmarket.

Wall Street ended a mad week confused and directionless, as did Australia, and the coming week is likely to see more of the same.

The ASX faces sharp losses today with ASX futures down 85 points after a wild day on global markets. The Share Price Index was down 110 points before a small rebound trimmed the day’s loss to around 1.2%.