Warren Buffett doesn’t need Elon Musk’s falcon wings

[Bloomberg]( Follow Us [Get the newsletter]( This is Bloomberg Opinion Today, a supercharged vehicle of Bloomberg Opinion’s opinions. [Sign up here](. Today’s Agenda - Warren Buffett owns [the Energizer Bunny of electric vehicles.]( - The online sports-betting market is [ripe for trouble.]( - [Read this before]( throwing out your sunscreen. - A Covid-19 vaccine leader [searches for its next lifesaving product.]( The Stock Recharging Berkshire’s Batteries A stock market dominated by technology giants and punctuated by eye-watering valuations, Reddit-fueled fads and [inane tweets]( has left investing icons Warren Buffett and Charlie Munger a tad out of place. If you look up “meme stock” in the thesaurus, AMC Entertainment Holdings Inc. is the first result, while their company, Berkshire Hathaway Inc., is listed under the antonyms. (Munger, who recently called Bitcoin “disgusting,” would have other choice words for the legions of AMC traders who were giddy Tuesday over the money-losing movie chain’s gimmicky plan [to accept Bitcoin for popcorn.]() That’s led some investors, particularly younger ones, to lose interest in Buffett and Munger and their style of investing; few probably even bothered to catch up with Berkshire’s [earnings]( last weekend. Still, every now and then investors get a reminder of why the Berkshire duo — both in their 90s — is the G.O.A.T. And, in fact, it has to do with a quiet tech bet for which they don’t get enough credit. Berkshire has a large stake in BYD Co. Ltd., a Chinese automaker that is mastering the technology at the center of the electric-vehicle race: batteries. BYD’s cars aren’t as sleek as its competitors’, such as Elon Musk’s Tesla Inc. with its [falcon-wing doors](. But [BYD’s batteries are a game changer]( because they’re cheaper, lighter and safer than the kind many rivals are pursuing, Anjani Trivedi writes. Berkshire initially took a $230 million stake in 2008 after learning about the chemist behind BYD. Its position is now worth almost $8 billion. Translation for the meme-stock crowd: That’s a lot of rocket emojis. Further Clean-Energy Reading: - Solar, wind and batteries are helping to cut emissions, but politically powerful U.S. oil companies and Chinese coal producers [need to stop slowing the progress.]( — Noah Smith - The [bipartisan action taken on refrigerators]( shows how tackling climate change requires a series of small steps. — Peter R. Orszag Gambling Lets Sports Networks Keep Their Winnings The era of all-in-one cable-TV packages was a magical time for sports networks because everyone paid for them whether they watched or not. In fact, Walt Disney Co.’s ESPN was and — at nearly $9 a month per subscriber — still is the most expensive channel in a standard package. But as customers ditch their cable boxes for more tailored streaming-video apps, paying for access to sports games is becoming more of a choice. That means the future of sports viewing will require stoking ultra-fandom from the periphery to keep driving profits, and it explains why networks and leagues have become so suddenly smitten with online sports-betting platforms. Interest in the space and loosening oversight have set off a series of mergers, including Monday’s [$1.56 billion deal]( between DraftKings Inc. — a brand now very familiar to ESPN viewers — and Golden Nugget Online Gaming Inc., which has ties to the NBA’s Houston Rockets. Gamblers [have a history of corrupting sports](, Timothy L. O’Brien writes, and now all corners of the sports and media industries are staking their futures on a space prone to compulsive behavior while trying to attract younger audiences. What could go wrong?  Is Sunscreen Safe? First, put down the Banana Boat bottle and take a breath. It’s understandably distressing when, in the midst of a global pandemic that’s already left us constantly questioning what’s safe, headlines arrive [tying sunscreen to cancer](. It feels especially cruel because summer and vaccines have just given us the chance to not be locked inside the house. And isn’t sunscreen supposed to protect against cancer? Fortunately, Max Nisen is [here to answer all your questions.]( The main takeaway: The dangers of chemical sunscreen are still uncertain, but the dangers of sun exposure are very certain. Keep a lookout for any recalls, Max writes, and if you’re really worried, try a mineral sunscreen (pregnant women will have plenty of recommendations). Telltale Charts Yes, Moderna Inc.’s Covid-19 vaccine is helping to save the world, but it’s still a one-product company. As the drugmaker looks for acquisitions, it will be hard finding targets [to justify its own $184 billion market value](, Max Nisen writes. SoftBank Group Corp. doesn’t have the cash to support Masayoshi Son’s “buy, buy, buy” strategy. It’s time to [figure out what he can sell, sell, sell,]( Tim Culpan writes. Further Reading Private equity [rewarding individuals who promote diversity]( is a welcome change to the usual bonus criteria. — Chris Hughes We can only imagine what will happen [if global warming disrupts the jet and Gulf streams.]( — Andreas Kluth Expect the Federal Reserve’s balance sheet [to keep on swelling.]( — Lisa Abramowicz Canadian Pacific Railway Ltd. is betting investors [won’t fall for “fool’s gold.”]( — Brooke Sutherland Is it time for the vaccinated to [accept Covid-19 as a way of life]( and get back to living it? — Tyler Cowen ICYMI New York Governor Andrew Cuomo [resigns amid harassment allegations.]( Only 42% of CFA candidates [passed the Level III exam.]( Where can you travel during Covid? [This tracker will help.]( Kickers We’ve reached peak plus sign: Salesforce+ [is the newest streaming-video service.]( Bowsers! A “Super Mario Bros.” cartridge just [fetched $2 million.]( Animals [can count.]( No word on whether they’ve started trading. Notes:  Please send Salesforce+ subscriptions and complaints to Tara Lachapelle at tlachapelle@bloomberg.net. [Sign up here]( and follow us on [Twitter]( and [Facebook](. Like Bloomberg Opinion Today? [Subscribe to Bloomberg All Access and get much, much more](. You’ll receive our unmatched global news coverage and two in-depth daily newsletters, The Bloomberg Open and The Bloomberg Close. Before it’s here, it’s on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. [Learn more](. You received this message because you are subscribed to Bloomberg's Bloomberg Opinion Today newsletter. [Unsubscribe]( | [Bloomberg.com]( | [Contact Us]( Bloomberg L.P. 731 Lexington, New York, NY, 10022