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’The Buffett rule
How do you buy $10b.7n worth of stock in a big blue chip like IBM without alerting the market?
The WSJ’s Deal Journal has one answer. You cut a deal with the SEC:
Check out the footnote to Buffett’s latest disclosures of his investment holdings released by the SEC:
[Something for the weekend] Dear Lloyds: nobody wants to buy your bank
– By Neil Collins –
Dear Lloyds: nobody wants to buy your bank
It was going to be a hard-fought auction. The chance to buy a fully-formed network of bank branches, complete (one supposes) with all the trimmings,
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 $1bn day at the office [updated]
Don’t call it a bail-out.
Our apologies for another BofA post but analyst reaction has been coming in and though most it can be summed as “confidence boost that changes little”, we think there’s a couple of extra points worth mentioning.
Searching for Büffet
There was an interesting close in Europe on Thursday:
Bloomberg reports that DAX futures “fell as much as 4.1 percent as a cascade of trades pushed the volume in the contracts to a quarter of the daily average between 3:45 p.m.
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”
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.
Thanks for what, Warren?
Barry Ritholtz posts the letter that Warren Buffett could have written to the US government, in lieu of today’s wet kiss in the New York Times op-ed page, if he’d chosen to be more transparent and self-critical:
Snap news
Breaking pre-market news on Thursday,
- Vince Cable refers News Corp bid for BSkyB to Ofcom — statement.
- BT says pension liabilities have fallen by £2.9bn as a result of the government’s indexation move — statement.
The 50-for-1 CEO job swap
Here’s a radical idea — fire all the CEOs of Stoxx 50 companies in Europe and replace them with a single president, who will serve as the highest-ranking corporate officer at each firm, with full responsibility for their stewardship.
A welcome plunge in rankings for Wall Street’s finest
There is one exclusive ranking in the financial world that Goldman Sachs’ chief executive Lloyd Blankfein and his high-earning counterparts at Citigroup and JPMorgan are very glad to be at the bottom end of — and that is the annual list of the best-paid finance industry CEOs.
Vigilante finance
The following Reuters flash only caught our eye because of the involvement of an associate company…
So, there appears to be an “investigation into possible breaches of fiduciary duty and other violations of state law by members of the Board of Directors of Interactive Data Corporation…
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.
A good day for the Sage
After his surprise move into US railways late last year with the $26.6bn purchase of rail operator BNSF, Warren Buffett is expanding his presence in the reinsurance industry — a sign, say some analysts,
Kradbury – a ‘bad deal’
Remember those conspiracy theories about Warren Buffett being in league with Kraft to drive down the Cadbury share price?
They always seemed somewhat far fetched – and guess what? They were.
Buffett’s threat to vote against the deal was real enough.
Krafty
If you thought Kraft shareholders might be able to derail the company’s new, improved bid for Cadbury think again.
From the Recommended Final Offer for Cadbury, unveiled on Tuesday morning:
The Final Offer does not require the approval of Kraft Foods Shareholders.
Buffett/Kraft conspiracy theories
7.5p, or 1 per cent.
That’s the gap between the Cadbury share price and the value of Kraft’s £10.4bn bid on Wednesday morning.
Which will no doubt please those conspiracy theorists (both in the media and the stockmarket) who believe Warren Buffett is in league with Kraft’s management to secure Cadbury at a knockdown price.
Cadbury gets creamed by Buffett…
… who also delivers an almighty slapdown to Kraft.
In early afternoon trading on Tuesday, shares in the UK confectioner were hit hard – falling over 4% to 770p
The reason? Warren Buffett, who has thrown a rather big spanner in the works.
Goldman, Buffett, to help small businesses
Goldman Sachs apologised for its role in the financial crisis on Tuesday pledged $500m over five years – or about 2.3% of its estimated bonus and salary pool for 2009 – to help 10,000 US small businesses recover from the recession.
Goldman and Buffett team up to bail-out small US businesses, Bbrg says
Breaking news on Tuesday: Goldman Sachs and the Sage of Omaha are planning to save Christmas (and 2010) for small businesses across America, according to Bloomberg.
Nov. 17 (Bloomberg) — Goldman Sachs Group Inc.,
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 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.
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,