The Oracle of Omaha is boxing up his crystal ball – Legendary investor Warren Buffett, 94, unexpectedly announced he’d like his successor, Greg Abel, to replace him as CEO of Berkshire Hathaway at the end of the year. Berkshire began in 1965, has grown to a market cap of nearly $1.2 trillion, and has $347 billion in cash on its balance sheet available to deploy when opportunities arise. (Source: CNBC)

A rough start – The S&P 500 Index had its worst start to a presidential term since President Richard Nixon’s second term in 1973. The Index lost more than 7% during the first 100 days of President Donald Trump’s second term; since World War II, the average return during a president’s first 100 days has been 2.1%. (Source: Reuters)

Homeownership looking less dreamy – Gen Z and Millennials are prioritizing saving for childcare, education, and retirement and paying off credit-card debt over buying a home. Half of prospective Gen Zers think they'll need to tap into their 401(k) savings to be able to purchase a home, especially as poor affordability, low inventory, and high rates make the housing market tougher to navigate. (Source: Investment News)

Does this count as a glow up? – The eurozone economy, which has barely grown for the last several years, grew faster than expected (0.4%) in the first quarter. Inflation also declined, indicating that the group of 20 economies started the year on an upbeat note. (Source: Reuters) 

Changing customs – On 5/2, low-value shipments from China lost their special “de minimis” treatment in the US. Previously, shipments under $800, which accounted for about 30% of shipments from Asia and $5.1 billion in sales, weren’t subject to screening or duties. This allowed China’s numerous direct-to-consumer businesses to thrive, but also made it easier to ship illicit substances. (Source: Reuters)

That's less time than making my pour-over coffee – The median investor spends just six minutes researching before buying a stock and mainly considers the stock's recent performance (including the current day’s performance). Investors spend just 1% of research time, or about six seconds, examining risk statistics and 14% of research time analyzing a company's fundamentals. (Source: The Wall Street Journal)

No pressure to relax – Meditating helps you relax in the short term, and it could also help ward off the effects of chronic stress and aging. Researchers examined gene expression, cognitive function, and hair cortisol levels in people who have been practicing transcendental meditation and found that those who practiced for decades had reduced biomarkers for chronic stress and biological aging compared to those who didn’t. (Source: Science Alert)

The very scary caterpillar – Known as the "bone collector," a rare species of carnivorous caterpillars collects remnants of other bugs from spider webs and weaves them into their cocoon as camouflage. The caterpillars have only been found in a six-square mile area of Oahu and, while creepy and occasionally cannibalistic to their fellow caterpillars, are harmless to humans. (Source: The New York Times)

They should make a movie out of this or something – Cardinals gathered last week to begin the process of selecting a new pope. The longest papal conclave lasted 1,006 days in 1268 and is why cardinals are now strictly cut off from the outside world. The 1268 conclave is also why participants have a strict diet during the voting process: In less regulated times, outside forces tried to influence the vote by sneaking messages in through meals. (Source: Time)

Minting money and drinks – For this year's Kentucky Derby, Churchill Downs sold more than 120,000 mint juleps over the course of two days. The venue used 10,000 bottles of bourbon, 2,250 pounds of mint, and 475,000 pounds of ice for its signature cocktail, which sells for $22 a pop (unless you opt for the keepsake versions: a $1,000 pewter cup or $5,000 24-karat gold cup). In case you didn't do the math, that's at least $2.6 million in julep sales alone. (Source: Front Office Sports)