Daily Briefing: March 11

The stat, the quote and the read, you need to start your day off right.

Stat

According to a new Redfin study, a record 8.2 percent of U.S. homes were valued at $1 million or more in February, up from 4.8% two years ago. In addition, the top six metros with the greatest proportion of $1m houses were all in California, led by San Francisco, with 88.7%.

If you're on a budget, Elgin, IL is the place to go. Only 0.1% of homes in Elgin, Illinois are valued at $1 million or more, putting them last among the 100 most populous metros examined by Redfin.

Quote

β€œIt was simply a lucky bet.”

Barry Diller, a prominent media executive, and several other high-ranking individuals are being investigated for insider trading in connection with their purchases of Activision Blizzard options just days before it was announced that Microsoft purchased them.

According to the WSJ, Diller said he did not place the wager since he had access to any proprietary information β€” it was simply a case of being in the right place at the right time.

Read

Russian investment expert Alexander Butmanov sums up the state of its stock market. (Peter Liakhov)

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