Plunking down $2.11 million for a steak lunch might seem a tad bit excessive, even to a successful hedge fund manager.
Warren Buffett said Wednesday that the U.S. economy has "no bounce" and will take time to recover, but there is no risk of deflation to push it further into despair.
Berkshire Hathaway is ready to make a deal at the right price, but it has nothing in its shopping cart right now, CEO Warren Buffett said Sunday.
Berkshire Hathaway expects to report a first-quarter operating profit next week, CEO Warren Buffett said Saturday. However, he added that the firm's net worth continues to decline under the weight of losses from investments and derivatives bets.
Berkshire Hathaway chief Warren Buffett defended the government's handling of the economic crisis, but warned that the purchasing power of the dollar may fall as policymakers stretch to finance expensive rescue plans.
Warren Buffett's Berkshire Hathaway had its worst year ever in 2008. But for the throng gathering in Omaha on Saturday for the annual shareholder meeting, that's ancient history.
"I did some dumb things." Boy, there's a rare bit of self-reproach from Warren Buffett. <P>In his annual Chairman's letter to Berkshire Hathaway investors, the Oracle of Omaha said that 2008 had some good parts...and some bad. The good? Buffett used his billions to buy pieces of General Electric and Goldman Sachs for a song. <P>The bad? Berkshire Hathaway's worst performance since 1965. Buffett's dumbest move, he admitted, was buying up shares of ConocoPhillips when oil prices were near their peak. - <I>J.R.</I>
Warren Buffett is famous for his rules of investing: When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is usually the reputation of the business that remains intact. You should invest in a business that even a fool can run, because someday a fool will. And perhaps most famously, Never invest in a business you cannot understand.
Berkshire Hathaway reported today that its net worth fell in 2008 by $11.5 billion, a decline reducing its per-share book value by 9.6%. That was Berkshire's worst result in the 44 years that Chairman Warren Buffett has run the company and, in fact, only the second decline in that period. The other drop was 6.2% in 2001, a year hurt by 9/11 and other problems in Berkshire's insurance operations.
Sometimes the best deals are the ones you don't get.
Plunking down $2.11 million for a steak lunch might seem a tad bit excessive, even to a successful hedge fund manager.
Warren Buffett said Wednesday that the U.S. economy has "no bounce" and will take time to recover, but there is no risk of deflation to push it further into despair.
Berkshire Hathaway is ready to make a deal at the right price, but it has nothing in its shopping cart right now, CEO Warren Buffett said Sunday.
Berkshire Hathaway expects to report a first-quarter operating profit next week, CEO Warren Buffett said Saturday. However, he added that the firm's net worth continues to decline under the weight of losses from investments and derivatives bets.
Berkshire Hathaway chief Warren Buffett defended the government's handling of the economic crisis, but warned that the purchasing power of the dollar may fall as policymakers stretch to finance expensive rescue plans.
Warren Buffett's Berkshire Hathaway had its worst year ever in 2008. But for the throng gathering in Omaha on Saturday for the annual shareholder meeting, that's ancient history.
"I did some dumb things." Boy, there's a rare bit of self-reproach from Warren Buffett. <P>In his annual Chairman's letter to Berkshire Hathaway investors, the Oracle of Omaha said that 2008 had some good parts...and some bad. The good? Buffett used his billions to buy pieces of General Electric and Goldman Sachs for a song. <P>The bad? Berkshire Hathaway's worst performance since 1965. Buffett's dumbest move, he admitted, was buying up shares of ConocoPhillips when oil prices were near their peak. - <I>J.R.</I>
Warren Buffett is famous for his rules of investing: When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is usually the reputation of the business that remains intact. You should invest in a business that even a fool can run, because someday a fool will. And perhaps most famously, Never invest in a business you cannot understand.
Berkshire Hathaway reported today that its net worth fell in 2008 by $11.5 billion, a decline reducing its per-share book value by 9.6%. That was Berkshire's worst result in the 44 years that Chairman Warren Buffett has run the company and, in fact, only the second decline in that period. The other drop was 6.2% in 2001, a year hurt by 9/11 and other problems in Berkshire's insurance operations.
Sometimes the best deals are the ones you don't get.
Warren Buffett is no critic of federal aid to the financial system. But the Berkshire Hathaway chief says the government's decision to provide low-cost credit to troubled firms is taking a hefty toll on his Clayton Homes housing finance business.
Derivatives, the investments Warren Buffett famously scorned as "financial weapons of mass destruction," are proliferating at Berkshire Hathaway. But so far, there are no signs Berkshire risks a blowup.
Even when Warren Buffett loses, he wins.
Has there ever been a time that feels worse than now to talk about houses and stocks? Not in my 40 years of writing about business. The sickening collapses in house and stock prices from their peaks have trimmed about $13 trillion - almost a year's output for the entire U.S. economy - from Americans' net worth.
Tens of thousands of investors travel to Omaha each year the Berkshire Hathaway annual meeting, hoping to soak up the wisdom of value investor extraordinaire Warren Buffett. Hedge fund founder, financial blogger and professional skeptic Jeff Mathews went to the 2007 meeting and wrote "Pilgrimage to Warren Buffett's Omaha." Here's an excerpt.
Warren Buffett has already told the world what he's doing in this frightful market. The Oracle of Omaha proudly proclaimed that he's "been buying American stocks" with his personal funds.
Since the start of the financial crisis, the world's wealthiest man, investor Warren Buffett, has been front and center.
Stocks slipped Friday morning as a weak housing market report exacerbated recession fears - overshadowing Google's earnings and bullish comments from influential investor Warren Buffett.
Billionaire investor Warren Buffett used a guest commentary article in the New York Times on Friday to announce that he's sticking with stocks.
Warren Buffett suggested Thursday that the U.S. Treasury team with private investors to buy the distressed mortgage assets at the center of the controversial $700 billion Wall Street bailout, and said the price tag of the rescue plan may have to rise.
General Electric said Wednesday it intended to raise $12 billion through a common stock offering, in addition to plans to allow billionaire investor Warren Buffett's Berkshire Hathaway to buy up to $6 billion in stock.
Billionaire Warren Buffett told congressional negotiators that if they can't agree on a proposed financial bailout, the nation will face "its biggest financial meltdown in American history," two sources familiar with the talks said.
Legendary investor Warren Buffett warned Congressional leaders Saturday night of "the biggest financial meltdown in American history" if they did not act to secure the financial system.
Warren Buffett has put nearly $10 billion of his shareholders' money to work in the past week, cheering market optimists who've had little to smile about.
Berkshire Hathaway is investing $5 billion in Goldman Sachs. Too bad Warren Buffett doesn't have another $695 billion lying around so that taxpayers wouldn't have to foot the bill for the bank bailout.
In its first big move to raise capital, Goldman Sachs Group announced Tuesday that it will receive a $5 billion infusion from Warren Buffett's Berkshire Hathaway, an investment that could also raise confidence in the venerable Wall Street firm and the financial markets in general.
The Nasdaq gained and the broader market struggled at Wednesday's open as investors welcomed Warren Buffett's $5 billion investment in Goldman Sachs, but remained wary as the debate over a bank bailout plan continues.
The first authorized biography of the multibillionaire from Omaha provides a window into a man who relied on the women around him to keep it together
Not every subprime lender is drowning in red ink. Berkshire Hathaway subsidiary Clayton Homes, the nation's largest maker and financer of prefab and mobile homes, has been a bright light in a mortgage market that has generated $500 billion in write-downs since the start of 2007.
Billionaire investor Warren Buffett said Friday the economy continues to be in a recession, by his definition, and will continue to be for at least several more months
Stocks looked set Friday to extend the previous session's advance as oil prices fell further and the dollar rallied.
American consumers aren't the only ones going shopping. So is Warren Buffett.
It's a high price to pay -- but for one CEO, the steak, cherry Coke and master class in investment philosophy was worth it
Even Warren Buffett is wrong some of the time. Federal Reserve chairman Ben Bernanke is hoping this is one of them.
It's getting harder and harder to deny that the economy is in recession.
In the Q&A session Saturday morning at Berkshire Hathaway's annual meeting, CEO Warren Buffett and vice chairman Charlie Munger repeatedly warned investors to lower their expectations. When a shareholder asked whether Buffett's recent purchases of publicly traded stocks were likely to generate returns greater than 7% to 10% over time, Buffett promptly said no.
The mass migration of investors to Omaha for Warren Buffett's annual shareholder meeting, which kicks off Saturday morning, is the biggest pilgrimage this side of Mecca. More than 25,000 other people from every state in the Union and dozens of foreign countries go to soak up the wisdom of Buffett and his business partner, Charlie Munger, who sit for hours and answer questions from all comers. Their answers are often so educational and entertaining that any investor can take them to heart and learn from them.
There are lot of doom and gloomers out there.
If Berkshire Hathaway's annual meeting, scheduled for May 3 this year, is known as the Woodstock of Capitalism, then perhaps this is the equivalent of Bob Dylan playing a private show in his own house: Some 15 times a year Berkshire CEO Warren Buffett invites a group of business students for an intensive day of learning. The students tour one or two of the company's businesses and then proceed to Berkshire headquarters in downtown Omaha, where Buffett opens the floor to two hours of questions and answers. Later everyone repairs to one of his favorite restaurants, where he treats them to lunch and root beer floats. Finally, each student gets the chance to pose for a photo with Buffett.
Want to invest in a green industry that employs the latest technology, reduces U.S. oil consumption and is priced very attractively? Look no further than the railroads. Laggards for decades after the 19th-century boom ended, they're hot again.
Billionaire Warren Buffett said Monday that the U.S. economy is essentially in a recession even if it hasn't met the technical definition of one yet
Question: A year and a half ago, I gave my broker $6.5 million to manage. I have been disappointed with the results. What is a reasonable amount of time to give him before I pull the money?
Investors hoping to find a bottom in the hard-hit financial sector can't have been reassured by Warren Buffett's actions this week. Buffett's Berkshire Hathaway said Tuesday it is willing to effectively take over the muni bond books of MBIA and Ambac, a pair of insurers whose shares have been hammered over the past year on worries about their exposure to depreciating mortgage-backed securities.
Blue chips rallied Tuesday as investors welcomed news that Warren Buffett has reached out to ailing bond insurers and major lenders have announced a plan that they say will help homeowners avoid foreclosure.
Billionaire investor Warren Buffett said Tuesday he is offering to take over the liabilities of the troubled bond insurers, whose shaky finances have regulators and Wall Street greatly alarmed.
Forget about Fed rate cuts and that $170 billion stimulus package headed for President's Bush desk. Warren Buffett wants to be the one to snap Wall Street out of its funk.
Stocks tick higher Tuesday as investors cheer news that Warren Buffett is making a move to prop up bond insurers while earnings from beleaguered automaker General Motors contain mixed messages.
Conventional wisdom says you should pick a financial adviser you connect with, and one who has good references and no problems with regulators. Sure, that's a good way to start, but it won't tell you if he or she is likely to chase market trends or put a desire for fees ahead of your best interests. The questions below will give you insight into any planner's style and candor.
Warren Buffett put $2 billion of Berkshire Hathaway's cash to work at the end of last week when the company purchased high-yielding bonds issued by Dallas-based power producer TXU Corp., according to a person familiar with the deal.
Warren Buffett thinks those who use the phrase "death tax" are intellectually dishonest because the phrase in his words is "clever, Orwellian and dead wrong."
Warren Buffett has said it before and he's likely to say it again to Congress on Wednesday: He thinks the heirs of the wealthy should be taxed on their inheritance.
Legendary investor Warren Buffett may be considering buying a minority stake in the nation's fifth-largest investment bank, according to a New York Times report.
Omaha police are investigating an attempted robbery at Warren Buffett's home, CNNMoney learned Thursday.
Billionaire investor Warren Buffett may boost his stake in railroad company Burlington Northern Santa Fe to 25 percent, according to a filing with the Securities and Exchange Commission.
Berkshire Hathaway Inc., the Warren Buffett investment conglomerate, bought more than 10 million shares of railroad company Burlington Northern Santa Fe Corp. since Thursday, increasing its stake to 14.8 percent, according to regulatory filings.
A bidder agreed to pay $650,100 to have lunch with billionaire Warren Buffett, surpassing last year's record for the annual charity auction.
With one day to go, an online charity auction for the right to dine with billionaire Warren Buffett has fetched a top bid of $300,100, less than half of last year's winning bid of $620,100.
Lunch with Warren Buffett will again prove a costly feast.
Finance legend Warren Buffett had lunch in a New York steak house Wednesday with a businessman from China who paid more than $600,000 to dine with the Oracle of Omaha.
He played the ukulele. He sang with dancing fruits. He went one-on-one in a comical videotape against NBA star LeBron James.
Berkshire Hathaway, the diversified holding company run by billionaire investor Warren Buffett, reported higher first-quarter earnings Friday.
Warren Buffett's Berkshire Hathaway Inc. has bought a stake of more than 10 percent in railroad operator Burlington Northern Santa Fe Corp. that's worth about $3.2 billion, according to a filing with regulators.
Last summer Warren Buffett stunned the business world when he told FORTUNE that he would give away the bulk of his $44 billion Berkshire Hathaway fortune to charity.
The world's most successful investor - and second richest man - is perhaps also its least lavish CEO.
A dream team of American business and government pushed Tuesday for changes in regulations they say are necessary to keep U.S. financial markets from falling behind the rest of the world.
Warren Buffett disclosed on Thursday that he wants to see the proceeds from all Berkshire shares he owns at death to be used for philanthropic purposes quickly. His will, Buffett says in the just-released Berkshire Hathaway annual report, stipulates that the proceeds must be spent within 10 years after his estate is closed.
Running what is in effect an ad for talent, Berkshire Hathaway chairman Warren Buffett, 76, says in the company's just-released annual report that he plans to hire a younger person - or perhaps more than one - to understudy him in managing Berkshire's investments.
What better way is there to use money than to donate it?
So you're not Warren Buffett or Bill Gates. There's no reason you still can't give like a billionaire. Donor-advised funds - investment accounts that let you deposit assets for an upfront tax deduc...
Shares of billionaire Warren Buffett's Berkshire Hathaway Inc. closed at $100,000 Monday, a record for the most expensive U.S. stock.
As corporate scandals continue to mount on Wall Street, Berkshire Hathaway Chairman Warren Buffett has a message for the company's top managers: Don't give in to peer pressure.
Billionaire investor Warren Buffett's Lincoln Town Car went up for sale on eBay Tuesday.
Okay we need this Alaska pipeline shutdown like an abscessed tooth! Of course the big news will be the Fed announcement on Tuesday, 2:15 Eastern. Be there! And this: Sweden's economy saw its highest growth in six years... Time to move?
Berkshire Hathaway said late Tuesday that it has agreed to acquire two California workers' compensation firms as the insurance- focused conglomerate run by billionaire Warren Buffett expands its bet on the once-troubled market.
On July 3, Warren Buffett drove himself downtown, walked into the cavernous and nearly deserted central branch of U.S. Bank in Omaha, descended a flight of steps, and opened his large safe-deposit box.
We were sitting in a Manhattan living room on a spring afternoon, and Warren Buffett had a Cherry Coke in his hand as usual. But this unremarkable scene was about to take a surprising turn.
Billionaire Warren Buffett turned heads last week when he announced that he would be donating the bulk of his wealth to charity.
FINANCIAL MARKETS GOT JUMPY IN MAY AS INVESTORS debated whether the U.S. economy was growing too hot or too cold, whether interest rates were too high or too low, whether stocks were about to rebou...
The winning bid on a coveted lunch with Warren Buffett, the world's second-richest man, was $620,100 on eBay Thursday.
Of course it's news -- real, gee-whiz news -- when the second-richest man in the world decides to give away the bulk of his fortune -- most of it to a foundation run by the richest man in the world.
It is by far the largest foundation in the world - even now, before Warren Buffett's historic gifts. And its creed is appropriately broad: "Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to reduce inequities and improve lives around the world."
Warren Buffett holds only Berkshire Hathaway A stock (474,998 shares), but his gifts are to be made in Berkshire B stock, into which each A share is convertible at a ratio of 30 to 1. He will convert A shares to obtain the B shares he needs for his gifts.
We were sitting in a Manhattan living room on a spring afternoon, and Warren Buffett had a Cherry Coke in his hand as usual. But this unremarkable scene was about to take a surprising turn.
The high bid on a coveted lunch with Warren Buffett, the world's second-richest man, reached over $450,000 on eBay Friday, with six days remaining in the auction.
Financial markets have gotten jumpy as investors debate whether the U.S. economy is growing too hot or too cold, whether interest rates are too high or too low, whether stocks are about to rebound from their spring swoon or fall another 10 percent.
Warren Buffett isn't one of those guys who always needs to have the fanciest bling on the block. This is, after all, the billionaire who loves to dine at Dairy Queen.
OMAHA (MONEY Magazine) - At this weekend's annual meeting of Warren Buffett's Berkshire Hathaway, security is tighter than usual, with several entrances to the parking lot of the Qwest convention center closed.
TEL AVIV (Reuters) - Warren Buffett's acquisition of a majority stake in an Israeli engineering firm for $4 billion sparked hopes on Sunday that more foreign investors will follow suit.
If every year you had more cash than the year before, would you have a problem with that? If every year you had a lot more cash than the year before, would you have a problem with that? And if, at last count, your cash had piled up to $37 billion, would you have a problem with that?
OMAHA, Neb. (Reuters) - Warren Buffett said Saturday he wanted to reduce Berkshire Hathaway Inc.'s cash pile and that there was a small chance he would make an acquisition that could take up to $15 billion of cash.
Berkshire Hathaway Inc., the investment company controlled by Warren Buffett, said Friday it purchased a majority stake in a privately held metalworking firm for $5 billion,and reported a 70 percent jump in first-quarter earnings.
Has Warren Buffet found his next big acquisition and will he let the world know about it this weekend? According to a published report Friday, speculation is building that the billionaire investor may do just that during the annual meeting of his holding company Berkshire Hathaway.
Billionaire investor Warren Buffett is making a $14 billion bet on global stock markets, according to an article Tuesday.
In his annual letter to Berkshire Hathaway shareholders, released Saturday, billionaire investor Warren Buffett said he made few changes to the company's stock holdings but cautioned investors that the portfolio's returns may be modest over the next several years.
If you thought you couldn't mix your love of rock music with your passion for high finance -- think again.
They all laughed when Jefferson bought half the continent from France. Alaska was called "Seward's folly." Other "crazy" investments have worked out fine, too. But some oddball bets fell flat.
It's the Friday before the University of Nebraska's Big 12 Conference opener in football-mad Lincoln, but the Cornhuskers game isn't the only hot ticket in town. On a beautiful late September after...
Investment guru Warren Buffett is planning to cooperate on a financial advice book that has prompted a bidding war among publishers eager to land the title, according to a newspaper report Wednesday.
President Bush is looking for a new Fed head.
Thursday evening, one lucky bidder put in the winning bid of $351,100 for lunch with the Oracle of Omaha, beating the next highest bid by only $100.
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