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☆ Warren Buffett finally reveals the mysterious company he’s invested billions of dollars in
▼ + stars: | 2024-05-15 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —The mystery is over: Warren Buffett’s Berkshire Hathaway disclosed a major stake in the insurance company Chubb, finally revealing the investment he has kept under wraps since last year. Berkshire revealed it acquired nearly 26 million shares of Chubb in a Wednesday Securities and Exchange Commission filing of the company’s first quarter investments. Buffett, Berkshire’s CEO famous for his investing prowess, has amassed a sizable following of investors who mimic his portfolio moves. The investment in Chubb underscores Berkshire Hathaway’s investment strategy over the past several months. Berkshire also sold 80 million shares of printer company HP in the fourth quarter of 2023, reducing its holdings by 78%.

Persons: Warren Buffett’s Berkshire Hathaway, Chubb, Donald Trump’s, Jean Carroll’s, Buffett, Berkshire’s, Buffett’s, Berkshire Hathaway, Nicole Goodkind Organizations: CNN, Wednesday Securities, Exchange Commission, SEC, Berkshire Hathaway’s, Insurance, Indemnity, American Express, Bank of America, Apple, HP Locations: Berkshire

☆ Berkshire Hathaway’s big mystery stock wager could be revealed soon
▼ + stars: | 2024-05-03 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Berkshire Hathaway , led by legendary investor Warren Buffett, has been making a confidential wager on the financial industry since the third quarter of last year. The identity of the stock — or stocks — that Berkshire has been snapping up could be revealed Saturday at the company's annual shareholder meeting in Omaha, Nebraska. So the 93-year-old Berkshire CEO may decide to explain his rationale to the thousands of investors flocking to the gathering. The bet, shrouded in mystery, has captivated Berkshire investors since it first appeared in disclosures late last year. Under Buffett, Berkshire has trounced the S&P 500 over nearly six decades with a 19.8% compounded annual gain, compared with the 10.2% yearly rise of the index.

Persons: Berkshire Hathaway, Warren Buffett, Buffett, —, Bill Stone Organizations: Glenview Trust Co, Buffett Locations: Berkshire, Omaha , Nebraska, U.S, Glenview

But this year’s event will be the first without Munger, who died in November at age 99 — and comes amid growing questions about Berkshire post-Buffett, who’s 93. Buffett will have a different crew answering questions alongside him on Saturday. Berkshire’s vice chairmen, Greg Abel and Ajit Jain, will be on hand for much of the day. Shareholders most likely will be focused on what Abel, Buffett’s appointed successor as C.E.O. In Buffett’s annual letter to investors, he noted challenges to Berkshire’s biggest businesses, including the BNSF railroad (falling shipment volumes) and its utility business (forest fires).

Persons: Warren Buffett, Charlie Munger, Munger, Buffett, Greg Abel, Ajit Jain, Abel, Buffett’s Organizations: Berkshire, Shareholders Locations: Berkshire, Omaha, Woodstock, America

☆ Mandatory retirement ages for boards and CEOs. What you need to know
▼ + stars: | 2024-01-21 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +9 min

Boards are most likely to have mandatory retirement age policiesHaving a mandatory retirement policy for board members is up to the discretion of individual companies. “In 2023, 69% of [S&P 500] boards reported having a mandatory retirement policy — down one point from 2022,” according to an August 2023 report from executive search firm Spencer Stuart. Many other public safety occupations do have mandatory retirement ages. The whys behind mandatory retirement agesThere may be varied stated reasons for having a mandatory retirement age, such as opening up the pipeline for younger talent to have more opportunities. For that reason, advocates for older workers, like the AARP, contend all mandatory retirement ages should be eliminated, even for demanding jobs involving public safety.

Persons: Al Gore, Russell, —, Berkshire Hathaway’s Warren Buffett, Spencer Stuart, ”, Matteo Tonello, Tonnello, Tonello, Brian Cornell, Dave Calhoun, Thomas McKinney, McKinney, “, Mary O’Neill, ” O’Neill Organizations: New, New York CNN, Former, Berkshire, Conference Board, Corporate America, The Conference Board, Boeing, American College of Surgeons, Capitol Police, U.S ., Personnel Management, Commission, AARP Locations: New York, Corporate America, Corporate, Calhoun, Castronovo, McKinney, , New Jersey, —, Federal, New York State

☆ Everybody could use a Charlie Munger
▼ + stars: | 2023-11-29 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

NEW YORK, Nov 29 (Reuters Breakingviews) - Every great leader needs a Charlie Munger. The deputy to Berkshire Hathaway’s (BRKa.N) Warren Buffett died on Tuesday morning just a month shy of his 100th birthday. And Munger kept at it: at age 99, having served as Berkshire’s vice chairman since 1978, he was still giving interviews as recently as this month. Munger was capable when taking the opposite view from his boss, encouraging the kind of debate that fosters better decisions. Follow @thereallsl on XCONTEXT NEWSCharlie Munger, the longtime vice chairman and second-in-command to Warren Buffett at Berkshire Hathaway, died at a California hospital, the company said on Nov. 28.

Persons: Charlie Munger, Warren Buffett, Munger, lobbing, ”, Buffett, CNBC’s Becky Quick, Greg Abel, Ajit Jain, That’s, Buffett’s, Berkshire Hathaway, ” Buffett, Jonathan Guilford, Sharon Lam Organizations: Reuters, Berkshire Hathaway’s, Berkshire, Costco Wholesale, Thomson Locations: Berkshire, Omaha, ”, California

☆ Premarket stocks: Charlie Munger’s best quotes on investing, life and everything in between
▼ + stars: | 2023-11-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

New York CNN —Billionaire investor Charlie Munger, vice-chairman of Berkshire Hathaway and long-time friend to Warren Buffett, died on Tuesday. He said ‘if all you have is a hammer, the world looks like a nail.’”Munger, who was worth $2.7 billion according to Forbes, was revered for his pithy and often humorous remarks on investing, life and more. His speeches and writings, compiled in books like “Poor Charlie’s Almanack,” are considered essential reading for anyone interested in business, investing or the art of clear thinking. It looked to me like a kindergarten.” - Berkshire Hathaway meeting, 2018On algorithmic trading:“We have computers with algorithms trading against other computers. Look at it backward.” - Poor Charlie’s AlmanackOn passion:“You’ll do better if you have passion for something in which you have aptitude.

Persons: Charlie Munger, Berkshire Hathaway, Warren Buffett, Munger, ” Whitney Tilson, Buffett, “, ” Munger, Tilson, ”, We’ve, stockbrokers, they’ve, it’s, I’m, Tao, David Clarkhis Organizations: CNN Business, Bell, New York CNN, Berkshire, Forbes, Google, Berkshire Hathaway, USC, Kiplinger, “, Invest, Berkshire Hathaway’s Locations: New York, ”, Berkshire

☆ Chinese social media mourns Charlie Munger, who said BYD was his best investment
▼ + stars: | 2023-11-28 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Chinese social media users are mourning the death of billionaire investor Charlie Munger. The vice chairman of Berkshire Hathaway passed away “peacefully” on Tuesday morning in a California hospital, according to a press release by the investment firm. According to a recent filing by Berkshire Hathaway to the Hong Kong stock exchange, the firm held about 7.98% of BYD by late October. Berkshire Hathaway has sold more than 137 million shares of BYD since the middle of 2022, according to its previous statements. He praised the country despite its crackdown on Chinese tech giant Alibaba, which was a top Munger investment at Daily Journal, a Los Angeles-based newspaper publisher and investment firm Munger headed from 1977 through 2022.

Persons: Charlie Munger, Berkshire Hathaway, “, ”, Warren Buffett, Tim Cook, Munger, Tesla, “ Munger, ” Stella Li, Hathaway, ” Munger, Wang Chuanfu Organizations: Hong Kong CNN, Berkshire, Apple, BYD, Hong Kong, Tesla, Elon, Daily Journal Locations: Hong Kong, ”, California, China, Weibo, American, BYD Americas, Berkshire, BYD, Tesla, Munger, Los Angeles

Charles T. Munger, who quit a well-established law career to be Warren E. Buffett’s partner and maxim-spouting alter-ego as they transformed a foundering New England textile company into the spectacularly successful investment firm Berkshire Hathaway, died on Tuesday in Santa Barbara, Calif. His death, at a hospital, was announced by Berkshire Hathaway. Mr. Buffett has described him as the originator of Berkshire Hathaway’s investing approach. “The blueprint he gave me was simple: Forget what you know about buying fair businesses at wonderful prices; instead, buy wonderful businesses at fair prices,” Mr. Buffett once wrote in an annual report. That investing strategy was a revelation for Mr. Buffett, who had made his name in the 1950s buying troubled companies at deep discounts.

Persons: Charles T, Munger, Warren, Berkshire Hathaway, Mr, Buffett, — Forbes, — Organizations: Berkshire Locations: England, Santa Barbara, Calif, Los Angeles, Berkshire

☆ Warren Buffett pays for Indian payments punt
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018. REUTERS/Rick Wilking/File Photo Acquire Licensing RightsMUMBAI, Nov 27 (Reuters Breakingviews) - Berkshire Hathaway’s (BRKa.N) foray into the digital payments industry in India did not go well. Warren Buffett’s investment firm on Friday sold its remaining shares in $7 billion Paytm, some five years after making its initial investment, locking in a more than 20% loss, per Breakingviews calculations. But Berkshire only invested $260 million, barely a blip next to its $700 billion-odd of assets at the time. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Warren Buffett, Rick Wilking, Warren, –, Vijay Shekhar Sharma’s, it’s, Antony Currie, Katrina Hamlin Organizations: Berkshire Hathaway Inc, Omaha , Nebraska U.S, REUTERS, Rights, Reuters, Berkshire, X, Thomson Locations: Omaha , Nebraska, Rights MUMBAI, Berkshire, India, Una, China, Rome

☆ Warren Buffett donates $870 million to charities ahead of Thanksgiving
▼ + stars: | 2023-11-22 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Warren Buffett is donating about $870 million to four family-run foundations ahead of the Thanksgiving holiday, continuing a tradition of giving away his massive wealth of about $120 billion. The donations are in the form of shares, with a release from his Berkshire Hathaway conglomerate detailing that 1.5 million shares are going to the Susan Thompson Buffett Foundation, which is named after his wife. Another 900,000 shares are being divided evenly among three charities run by his children. He named Greg Abel, the head of Berkshire Hathaway’s non-insurance business, as his successor in 2021. Berkshire Hathaway recently reported a surge in third-quarter operating earnings and a record-high cash pile of $157 billion.

Persons: New York CNN — Warren Buffett, Susan Thompson Buffett, Buffett, ”, He’s, “, —, Greg Abel, Berkshire Hathaway Organizations: New, New York CNN, Berkshire Hathaway, Susan Thompson Buffett Foundation, Berkshire Hathaway’s, Berkshire Locations: New York, Berkshire, United States

☆ Berkshire Hathaway’s Latest Bet: Homebuilder Stocks
▼ + stars: | 2023-08-15 | by ( Hannah Miao | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Locations: berkshire

☆ Berkshire Hathaway’s operating earnings rise nearly 7%, cash pile approaches $150 billion
▼ + stars: | 2023-08-05 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Berkshire Hathaway on Saturday reported a solid increase in second-quarter operating earnings, while the cash hoard at Warren Buffett's conglomerate swelled to nearly $150 billion. Net income totaled $35.91 billion, compared with a $43.62 billion loss during the second quarter last year. Berkshire reported a near $26 billion unrealized gain from its investments as its gigantic stake in Apple led the market rally in the second quarter. The tech giant soared nearly 18% during the quarter and Berkshire's bet has ballooned to $177.6 billion. The "Oracle of Omaha" trimmed his Chevron stake by $1.4 billion to $19.4 billion at the end of June.

Persons: Berkshire Hathaway, Berkshire's Organizations: Berkshire, Apple, Oracle, Chevron Locations: Warren, Omaha

☆ TSMC stake sold by Warren Buffett's Berkshire Hathaway
▼ + stars: | 2023-05-16 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Warren Buffett’s conglomerate has sold its remaining shares in the world’s largest chipmaker, TSMC, after the “Oracle of Omaha” sounded alarms about its homebase of Taiwan. In a Monday filing, Berkshire Hathaway (BRKA) disclosed that it was no longer holding a stake in Taiwan Semiconductor Manufacturing Company (TSM) as of the end of the first quarter. In February, Berkshire revealed it had sold 86% of its shares in TSMC, which were purchased for $4.1 billion just months before. As Berkshire Hathaway revealed its withdrawal Monday, other prominent investors made bets on the stock. According to a regulatory filing, Macquarie has increased its stake in TSMC, while Tiger Global has also bought in.

☆ Omaha man sails into Florida’s imperfect storm
▼ + stars: | 2023-05-09 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

This imperfect storm suits the Berkshire Hathaway (BRKa.N) CEO’s investing style. Underwriters in the state have been feverishly trying to offload risk following last year’s Category 5 hurricane that was Florida’s deadliest in nearly 90 years. The upside is several billion dollars, Jain said, if Mother Nature turns out to be more forgiving. “If the big hurricane happens in Florida, we could lose – across all the units, we could lose as much as $15 billion. And if there isn’t a loss, we’ll make several billion dollars as profit,” Jain said during Berkshire Hathaway’s annual shareholder meeting in Omaha.

☆ Buffett’s imprint on Berkshire reaches its limit
▼ + stars: | 2023-05-08 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

NEW YORK, May 8 (Reuters Breakingviews) - Warren Buffett gives off a zen vibe about Berkshire Hathaway (BRKa.N) after his time is up. They’ll have over a decade to wind down the inheritance, in effect insulating Berkshire’s new leaders while they leave their own imprint. The succession planning has been possible because of Buffett’s iron grip, and not everyone is happy about it. One shareholder, Peter Flaherty, proposed separating the chairman and CEO roles at Berkshire. Berkshire security may be able to shut down such dissent at its own shareholder meeting, but it can’t stifle the doubts about life after Buffett.

☆ Berkshire Hathaway’s energy company is about to hit a major renewable energy milestone
▼ + stars: | 2023-04-22 | by ( Tim Mullaney | ) www.cnbc.com time to read: +3 min

With annual meeting season coming soon, Warren Buffett's climate record is back in the news – and activists are still not happy. Buffett's Berkshire Hathaway conglomerate faces three different shareholder resolutions heading into its annual "Woodstock for capitalism" on May 6. Buffett's climate metrics getting betterBerkshire is a climate paradox: Many of its climate metrics are improving rapidly, if not as fast as some competitors. Berkshire Energy spokesman Brandon Zero said the company would have no comment. But it still uses more coal, the dirtiest major electricity fuel – coal represents 23% of Berkshire's power mix – more than the national average of 20%.

☆ Berkshire Hathaway’s utility company is about to hit a major renewable energy milestone
▼ + stars: | 2023-04-21 | by ( Tim Mullaney | ) www.cnbc.com time to read: +3 min

With annual meeting season coming soon, Warren Buffett's climate record is back in the news – and activists are still not happy. Buffett's Berkshire Hathaway conglomerate faces three different shareholder resolutions heading into its annual "Woodstock for capitalism" on May 6. Buffett's climate metrics getting betterBerkshire is a climate paradox: Many of its climate metrics are improving rapidly, if not as fast as some competitors. Any discussion of Berkshire and climate necessarily begin with its utility business, since electricity production accounts for a quarter of U.S. greenhouse gas emissions. Berkshire Energy spokesman Brandon Zero said the company would have no comment.

☆ Berkshire Hathaway’s Energy Idea Is a Bad Fit for Texas
▼ + stars: | 2023-04-17 | by ( Jinjoo Lee | ) www.wsj.com time to read: +1 min

A proposed plan would create backup power plants for use only in the event of a breakdown elsewhere. Two years ago, not long after the Texas electricity system snapped following a winter storm, Warren Buffett’s Berkshire Hathaway pitched an idea to Texas lawmakers: Let us build some backup power plants in exchange for steady, guaranteed payment. The state Senate earlier this month passed a bundle of bills aimed at reforming the state’s energy system, the most substantial of which proposes a so-called Texas Energy Insurance Program. Under that system, the state would run a competitive process to select power plants that would serve as backups in case of emergencies. Only natural-gas-fueled power plants with on-site fuel storage would qualify.

☆ Warren Buffett on raising stake in Japanese trading houses: I was 'confounded' by the opportunity
▼ + stars: | 2023-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWarren Buffett on raising stake in Japanese trading houses: I was 'confounded' by the opportunityBerkshire Hathaway’s Warren Buffett joins 'Squawk Box' from Tokyo to discuss the reason behind his trip, and why he bought stakes in Japan's 5 leading trading houses.

☆ Warren Buffett on banking crisis fallout: No one is going to lose money on deposits in the U.S.
▼ + stars: | 2023-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWarren Buffett on banking crisis fallout: No one is going to lose money on deposits in the U.S.Berkshire Hathaway’s Warren Buffett joins 'Squawk Box' from Tokyo to discuss the banking crisis fallout, and the role FDIC plays during a bank failure.

☆ Warren Buffett gives reason for decision to sell stake in Taiwan's TSMC
▼ + stars: | 2023-04-12 | by ( Juliana Liu | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Warren Buffett says geopolitical tensions were “a consideration” in the decision to sell most of Berkshire Hathaway’s shares in global chip giant TSMC, which is based in Taiwan. The 92-year-old “Oracle of Omaha” shed light on the investment call in a Tuesday interview with Japanese news agency Nikkei. He was quoted as sayiing that TSMC was a well-managed company but that Berkshire had “better places” to deploy its capital. In February, Berkshire Hathaway (BRKA) revealed that it had sold 86% of its shares in TSMC, which were purchased for $4.1 billion just months before. TSMC is considered a national treasure in Taiwan and supplies semiconductors to tech giants including Apple (AAPL) and Qualcomm (QCOM).

☆ Warren Buffett on commercial real estate: People who lend too much money should take losses
▼ + stars: | 2023-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWarren Buffett on commercial real estate: People who lend too much money should take lossesBerkshire Hathaway’s Warren Buffett joins 'Squawk Box' from Tokyo to share his thoughts on the health of the commercial real estate market, and why there is no reason for investors to panic.

☆ Warren Buffett on U.S. economy: It's 'a tougher world' out there for many businesses
▼ + stars: | 2023-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWarren Buffett on U.S. economy: It's 'a tougher world' out there for many businessesBerkshire Hathaway’s Warren Buffett joins 'Squawk Box' from Tokyo to discuss the state of the U.S. economy, and why he doesn't pay attention to economic forecasts.

☆ Warren Buffett on banking crisis fallout: We're not not through with bank failures
▼ + stars: | 2023-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWarren Buffett on banking crisis fallout: We're not not through with bank failuresBerkshire Hathaway’s Warren Buffett joins 'Squawk Box' from Tokyo to discuss the fallout from the banking crisis, and how depositors shouldn't be worried about their money.

☆ Warren Buffett reacts to March inflation data: We don't profit from statistics and guessing
▼ + stars: | 2023-04-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWarren Buffett reacts to March inflation data: We don't profit from statistics and guessingBerkshire Hathaway’s Warren Buffett joins 'Squawk Box' from Tokyo to react to the latest consumer price index data from March.

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