This change at the top of the electric car market was widely expected. The only debate was whether it take place in the last quarter of 2023 or early in 2024. Now, we know. With both Tesla (TSLA) and BYD (BYDDF) reporting fourth quarter delivery numbers in the last few days, the switch at No. 1 is now complete.
In my daily trawling through the market I come upon lots of tidbits of knowledge that I think are important to investors but that don’t justify a full post. I’ve decided to start compiling these notes here each day in a kind of running mini blog that I’m calling Notes You Need. A representative item resembles this from today: “11:40 a.m.: Warren Buffett says Berkshire Hathaway has completely sold all its shares of IBM. At the end of the fourth quarter, Berkshire Hathaway held 2.05 million shares of IBM.”
At a ceremony in the White House President Donald Trump signed an executive order authorizing a 25% tariff on imported steel and 10% on imported aluminum. The tariffs will go into effect in 15 days. Mexico and Canada are exempt from the tariffs for an indefinite time.
The conventional wisdom at the end of last week was that we were witnessing a rotation out of tech shares and into financials and small cap stocks. In other words, nothing to get  too concerned about. Apple (AAPL) was a special case as surveys of retail channels showed weak sales for the iPhone 8. Today, though, the concern is a bit more serious.
