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’The Buffett bottom
Maybe “looking on as your shares break under $100,000″ is the new “having an idea in the bath”…
Berkshire Hathaway Authorizes Repurchase Program
OMAHA, Neb.–(BUSINESS WIRE)–Berkshire Hathaway Inc.
Buffett’s bargain BofA deal
By John McDermott, Cardiff Garcia, and Joseph Cotterill
BofA’s Buffett bounce was at 13 per cent at pixel time, paring gains from a 20 per cent high earlier on Thursday. Part of this may be due to a reverse torpedo-like situation, according to the experts at Data Explorers.
This is not a Bank of America capital increase
Compare:
CHARLOTTE, N.C.–(BUSINESS WIRE)–Bank of America Corporation announced today that it reached an agreement to sell 50,000 shares of Cumulative Perpetual Preferred Stock with a liquidation value of $100,000 per share to Berkshire Hathaway,
Buffett’s “insider” trading policies and procedures
Courtesy of the WSJ; quote marks Warren’s own:
Some excerpts from Berkshire’s policies below (click to expand for a less fuzzy reading experience):
Does this mean David “I didn’t have any inside information”
Sokol speaks…
… and when he looks back at Thursday’s interview with CNBC it might be with some regret.
When you are in a hole, stop digging etc…
Via Reuters:
SOKOL SAYS “I DIDN’T HAVE ANY INSIDE INFORMATION”
Lingering questions regarding Sokol’s resignation
By Cardiff Garcia and John McDermott
Sorry for the back-to-back press release based posts, but we think you’ll agree this is big news. And a mighty odd release it is, too. Brief commentary to follow:
For the bots: Anne Hathaway is NOT Warren Buffett
You hardcore financial types might have missed the below FT story, given it was in the Film & Television section of Friday’s paper and concerned a Hollywood starlet.
But wait! It’s financially relevant.
Beware dynastic billionaires, Warren wants YOU…
With the latest outbreak of Buffett and Gates-inspired philanthropic good cheer, it’s almost getting to the point where any billionaire who is not giving away a chunk of his or her fortune will be portrayed as the ultimate Grinch.
Warren Rose, or Axl Buffett?
Presented without comment, because we are speechless, is the following video of the Sage of Omaha as Guns N’ Roses rocker Axl Rose:
What’s the connection between Buffett and a talking lizard, you might ask? Buffett’s Berkshire Hathaway owns Geico.
Berkshire reveals new investments
Billionaire Warren Buffett’s Berkshire Hathaway on Monday revealed new investments in Nestle and Exxon Mobil and said it has nearly doubled its investment in Wal-Mart Stores, reports Reuters. It disclosed the investments,
Buffett to sell other rail stakes
The chief executive of Burlington Northern Santa Fe Corp said Warren Buffett’s Berkshire Hathaway is liquidating its stakes in rival railroad companies Norfolk Southern Corp and Union Pacific Corp, as Berkshire prepares to close its purchase of BNSF,
Buffett bets $26bn on US and BNSF
Warren Buffett on Tuesday struck his biggest deal with the $26.6bn purchase of Burlington Northern Santa Fe, one of the largest US railroad operators, in what the billionaire investor called an “all-in wager” on America’s economic future.
CDS report: Black & Decker rallies on takeover news
Gavan Nolan of Markit wrote this CDS report
European credit markets widened and stocks declined as investors fretted over the outcome of monetary policy meetings later this week. The Markit iTraxx Europe index was trading around 91bp,
All aboard the Buffett express …choo, choo!
Is this the most expensive train set ever?
No it’s this one!
Yup, yup. In one fell swoop Warren Buffett has potentially achieved an ambition of a lifetime and got himself a train set (that is,
Capmark in Berkshire asset deal
Warren Buffett’s Berkshire Hathaway and Leucadia National agreed to buy Capmark Financial Group’s mortgage loan and servicing business for as much as $490m, increasing exposure to a possible US housing recovery,
Buffett’s Berkshire buys corporate debt
Warren Buffett’s Berkshire Hathaway is buying corporate debt and non-US government securities as the billionaire investor’s spending on stocks falls to the lowest in more than five years, reports Bloomberg.
The Buffett effect
The pre-market action in Moody’s:
The back story here is that Warren Buffett’s Berkshire Hathaway revealed on Wednesday a lowered holding of 17 per cent in the ratings agency, down from 20 per cent previously.
Buffett’s Berkshire sees Q1 loss
Warren Buffett’s Berkshire Hathaway late Friday posted its first quarterly loss since 2001, hurt by losses on derivative contracts, its investment in oil company ConocoPhillips, and the weakening economy,
The Sage of Omaha loses some of his sheen
Berkshire Hathaway’s investors should be alarmed at, or at the very least, less than impressed with, the news emanating from the the annual shareholder gathering held over the weekend.
The Buffett faithful who make the yearly pilgrimage to Omaha for the so-called “Woodstock of capitalism”
Buffett to be grilled by investors
Warren Buffett will be under pressure at the annual gathering of shareholders in Berkshire Hathaway, his candies-to-insurance group, to explain his worst year ever, with the usually adoring crowd set to probe the renowned investor on his bargain-hunting strategy and succession plans.
Moody’s downgrades Berkshire Hathaway
Warren Buffett’s Berkshire Hathaway lost its triple-A grade from Moody’s Investors Service, the very ratings firm in which the billionaire holds a 20 per cent stake. The two-notch downgrade to Aa2, which follows Fitch Ratings’ one-notch cut last month,
Berkshire Hathaway loses triple-A rating at Moody’s
Speaking of downgrade Friday,
Moody’s Investors Service has downgraded the insurance financial strength (IFS) rating of National Indemnity Company (National Indemnity) to Aa1 from Aaa and the long-term issuer rating of its ultimate parent,
Another sacred cow, slain (or, Fitch downgrades Berkshire Hathaway)
Once upon a time, the merest suggestion that certain entities known as “bond insurers” or “monolines” might be stripped off their triple-A ratings was enough to send markets into a right panic.
Once upon a time,
Rating cut for Buffett’s Berkshire
Billionaire Warren Buffett’s Berkshire Hathaway had its top-level AAA credit rating cut by Fitch, which cited concern about the potential for losses on the insurer’s equity and derivatives holdings,
For Buffett, yesterday’s fans are today’s snarky critics
There is a slightly snarky (the only word for it) feeling to the deluge of reports and commentary surrounding news that Warren Buffett’s Berkshire Hathaway suffered its worst year ever in 2008 – even though the results,
Worst year for Buffett’s Berkshire
Warren Buffett has conceded that his holding company, Berkshire Hathaway, turned in its worst performance on record last year. In his annual letter to Berkshire shareholders, Buffett recounted how frozen credit markets dovetailed with tumbling home and stock prices to produce “a paralysing fear that engulfed the country”.
The (Swiss Re) snowball
Warren Buffett knew this was going to happen when he spent CHF3bn on Swiss Re yesterday, right? From Moody’s:
Moody’s Downgrades Swiss Re Ratings (Senior to Aa3); Ratings on Review Down
Short-term ratings of P-1 affirmed.
Weekend catch-up
In case you missed these stories:
- Austria takes control of Bank Medici
Bernard Madoff’s alleged $50bn fraud on Friday claimed its biggest victim to date as the Austrian government was forced to take control of Bank Medici,
Derivatives and the wisdom of the Sage
Poor dear Warren Buffett should have taken his own advice on derivatives, and stayed far away from those so-called financial weapons of mass destruction – because they just may be blowing up in his face.