America's tech giants are taking a modern-day crash course in India's ancient caste system, with Apple emerging as an early leader in policies to rid Silicon Valley of a rigid hierarchy that's segregated Indians for generations. Apple, the world's biggest listed company, updated its general employee conduct policy about two years ago to explicitly prohibit discrimination on the basis of caste, which it added alongside existing categories such as race, religion, gender, age and ancestry. The inclusion of the new category, which hasn't been previously reported, goes beyond U.S. discrimination laws, which do not explicitly ban casteism.
Advertising, in particular, is bracing for a challenging environment, and companies have begun aggressively curbing their ad spending. Companies understandably try to spend less money when times are tough, and advertising can be a way to tighten the belt. For example, executives at Procter & Gamble recently spoke about how the company pulled back its ad spending but has also shifted dollars around, moving money out of broad television and into more digital formats, where it's easier to track return on investment.
At the moment, there are a number of highly profitable, time-tested companies that remain inexpensive and have the capacity to make long-term investors richer. What follows are four of the best time-tested stocks that can help you build generational wealth. The first time-tested company with an impeccable track record of outpacing the S&P 500 and delivering massive gains to patient investors is conglomerate Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B).