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OMAHA, Nebraska — Many Berkshire Hathaway shareholders left last weekend's annual meeting pondering Warren Buffett's big revelation about succession. Others think Abel will be more likely to delegate the responsibility of stock selection. Buffett's investment lieutenants, Todd Combs and Ted Weschler, have independently managed about $15 billion each for Berkshire over the past decade. In addition to Berkshire's enormous equity portfolio, its pile of cash grew to nearly $189 billion at the end of March. The new forecast would translate into more than 20% upside and push Berkshire's total market value above $1 trillion.
Persons: Warren Buffett's, Greg Abel, Buffett, Greg, Abel, Todd Combs, Ted Weschler, Buffett hasn't, Combs, Bill Stone, Charlie Munger, who's, he's, Bueffett's, Cathy Seifert, Brian Meredith, Meredith, — CNBC's Michael Bloom Organizations: OMAHA , Nebraska —, Berkshire Hathaway, Saturday, Madison Investments, CNBC, Geico, Glenview Trust, Berkshire Hathaway Energy, UBS Locations: OMAHA , Nebraska, Omaha, Berkshire, Toyama, UBS Berkshire
Bill Stone, chief investment officer at Glenview Trust, has attended 20 Berkshire Hathaway annual shareholder meetings in Omaha, Nebraska. A longtime Warren Buffett disciple and a Berkshire shareholder since 1999, Stone's own investing style has been inspired by the "Oracle of Omaha" — a value-oriented approach with an emphasis on the so-called margin of safety. "You look at stocks, not as pieces of paper, but as businesses," he said in CNBC's latest Pro Talks . Can I possibly forecast that they'll continue to earn these profits?" Ahead of this year's "Woodstock for Capitalists" Saturday, Stone shared what he's learned from Buffett's investing philosophy and what he expects from the annual meeting without the late Charlie Munger.
Persons: Bill Stone, Warren Buffett, Stone, he's, Charlie Munger, Charlie Munger . Stone, Dominic Chu, Yun Li, Salomon Brothers Buffett Organizations: Glenview Trust, Berkshire Hathaway, Charlie Munger ., CNBC's Locations: Glenview, Omaha , Nebraska, Berkshire, Omaha, Woodstock
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPro Talks: How to profit from Warren Buffett's methods in investing and lifeCNBC's Dominic Chu interviews Berkshire investor Bill Stone, the CIO at Glenview Trust Company, in this special CNBC Pro Talk ahead of the 2024 Berkshire annual shareholders meeting. CNBC Pro's Yun Li also joins to preview Berkshire's annual meeting and what investors can expect from the Oracle of Omaha.
Persons: Warren, CNBC's Dominic Chu, Bill Stone, Yun Li Organizations: Glenview Trust Company, CNBC, Berkshire, Oracle Locations: Berkshire, Omaha
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
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSoft landing outlook looks priced into markets, says Glenview's Bill StoneBill Stone, Glenview Trust Company CIO, joins 'The Exchange' to discuss whether a good economic outcome is priced into markets, Berkshire Hathaway's earnings and more
Persons: Bill Stone Bill Stone Organizations: Glenview Trust Company Locations: Berkshire
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTwo market experts on the recent sell-off in stocks and surge in bond yieldsBill Stone, The Glenview Trust Company CIO, and Gennadiy Goldberg, TD Securities Head of U.S. Rates Strategy, discuss how January's hotter-than-expected CPI report impacts the markets, rates, and the Fed.
Persons: Bill Stone, Gennadiy Goldberg Organizations: Glenview Trust Company, Securities
Greg Abel, vice chairman of Berkshire's non-insurance operations, became known as Buffett's heir apparent in 2021 after Munger inadvertently made the revelation . Ajit Jain, Berkshire's vice chairman of insurance operations, had been a top contender for the top job, but Buffett recently revealed that Jain "never wanted to run Berkshire." "All [Munger's passing] does is add to the conversation that what happens when Buffett's gone because this brings it home. Berkshire analysts believe the event won't notably alter Berkshire's transition plans. James Shanahan, Edward Jones' Berkshire analyst, also said he remains confident in the leadership of Berkshire following Munger's passing.
Persons: Charlie Munger, Warren Buffett's, Berkshire Hathaway, Greg Abel, Munger, Ajit Jain, Buffett, Jain, Abel, he's, Buffett's, Bill Stone, Warren Buffett, Catherine Seifert, James Shanahan, Edward Jones, CNBC's Becky Quick, Ted Weschler, Todd Combs Organizations: Oracle, Berkshire, Glenview Trust, CFRA's, MidAmerican Energy, Berkshire Hathaway Energy Locations: Berkshire, Omaha, Glenview, CFRA's Berkshire, Japan
As Charlie Munger's admirers around the globe mourn the loss of one of the most influential investors ever, a deep sense of gratitude and appreciation has spread — for his unparalleled business acumen as well as his uniquely sharp tongue. Munger, Berkshire Hathaway's vice chairman who died Tuesday one month shy of his 100th birthday, left a mark on generations of investors in a host of ways thanks to a long and fruitful life. First and foremost, Munger's investment philosophy rubbed off on none other than Warren Buffett, giving rise to the sprawling conglomerate worth almost $800 billion that Berkshire is today. Munger long emphasized the importance of recognizing a good business before it's widely seen as such, and he did so many times in his storied career. Munger was also a loyal supporter of Costco Wholesale Corp ., calling it one of the best investments of his life.
Persons: Charlie Munger's, Warren Buffett, Munger, Buffett, Bill Stone, Matt McLennan, Charlie, McLennan Organizations: Munger , Berkshire Hathaway's, Glenview Trust, First Eagle Investments, CNBC, Berkshire, Costco Wholesale Corp, Price Club Locations: Munger , Berkshire, Berkshire, Glenview
Watch CNBC's full interview with Bill Stone and Bill Smead
  + stars: | 2023-11-29 | 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 EmailWatch CNBC's full interview with Bill Stone and Bill SmeadBill Stone, CIO at Glenview Trust Company, and Bill Smead, CIO at Smead Capital Management, join 'The Exchange' to discuss the legacy of Charlie Munger, the future of Berkshire, and more.
Persons: Bill Stone, Bill Smead Bill Stone, Bill Smead, Charlie Munger Organizations: Glenview Trust Company, Smead Capital Management Locations: Berkshire
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBerkshire has changed and is built to last, says Glenview Trust Company's Bill StoneBill Stone, CIO at Glenview Trust Company, and Bill Smead, CIO at Smead Capital Management, join 'The Exchange' to discuss the legacy of Charlie Munger, the future of Berkshire, and more.
Persons: Bill Stone Bill Stone, Bill Smead, Charlie Munger Organizations: Berkshire, Glenview Trust Company, Smead Capital Management Locations: Glenview, Berkshire
[1/4] Berkshire Hathaway Inc Vice Chairman Charles Munger speaks at the Daily Journal annual meeting in Los Angeles, U.S., February 15, 2017. Munger's death on Tuesday, five weeks shy of his 100th birthday, leaves Berkshire Vice Chairmen Greg Abel and Ajit Jain, who respectively oversee its non-insurance and insurance businesses, as the 93-year-old Buffett's top advisers and sounding boards. At the 2021 annual meeting, Jain was asked how he and Abel interact with each other. "You don’t need them to be as good as Buffett or Munger to make Berkshire a good company and arguably a great company." "It particularly doesn't feel like an annual meeting because my partner of 60 years, Charlie Munger, is not sitting up here," Buffett said.
Persons: Charles Munger, Lucy Nicholson, Berkshire, Charlie Munger, Warren Buffett, Buffett, Munger, Munger's, Greg Abel, Ajit Jain, Abel, Jain, Warren, Charlie, Bill Stone, Howard Buffett, Todd Combs, Ted Weschler, Bill Smead, Whitney Tilson, Munger didn't, Jonathan Stempel, Megan Davies, Paritosh Bansal, Stephen Coates Organizations: Berkshire Hathaway, Daily, REUTERS, Berkshire Hathaway's, Berkshire, BNSF, Investors, Glenview Trust, Berkshire Hathaway Energy, University of Alberta, PricewaterhouseCoopers, Energy, MidAmerican's, Apple, Smead Capital Management, Kase Capital, Thomson Locations: Los Angeles , U.S, Berkshire, Omaha , Nebraska, Munger, Glenview, Edmonton, Alberta, Indian, Odisha, Phoenix, Woodstock, Omaha, New York
Berkshire Hathaway vice chairman Charlie Munger dies at 99
  + stars: | 2023-11-28 | by ( ) www.reuters.com   time to read: +12 min
Nov 28 (Reuters) - Charlie Munger, the longtime vice chairman and second-in-command to Warren Buffett at Berkshire Hathaway (BRKa.N), died on Tuesday morning at a California hospital. For stock-pickers like us to lose Charlie Munger, would be like if you’re a basketball fan and you lose Bill Russell. "I wouldn't think Berkshire will look much different, apart from Buffett no longer being able to share ideas with Munger. CATHERINE SEIFERT, VICE-PRESIDENT, CFRA RESEARCH, NEW YORK“Berkshire Hathaway shareholders are not going to be directly or negatively impacted from the passing of Charlie Munger. Therewass already a transition plan in place and there's a transition plan in place when Warren Buffett passes away.
Persons: Charlie Munger, Warren Buffett, Charlie, WHITNEY TILSON, BRIAN MOYNIHAN, Charlie Mungerwass, ” BURNS MCKINNEY, Bill Russell, , Berkshire Hathaway, ” PHIL ORLANDO, FEDERATED HERMES, BILL, Buffett, Munger, PHILLIP, , STEVE SOSNICK, , ” WIN MURRAY, DIAMOND, MARY JO, BILL SMEAD, Warren, ” “ Buffett, Todd Combs, Ted Weschler, ” PAUL LOUNTZIS, Greg Abel, I've, you'll, STEPHEN DODSON, hewass, ” PAUL NOLTE, FOR MURPHY, Warren Buffet, they've, QUINCY KROSBY, RICK MECKLER, CHERRY, NEW VERNON, Hewass, obviouslywass, DOUG KASS, ” THOMAS RUSSO, GARDNER RUSSO, QUINN, CATHERINE SEIFERT, he's, ” ANTHONY SAGLIMBENE, THOMAS HAYES Organizations: Berkshire Hathaway, COOK, APPLE, WHO, KASE, OF, FEDERATED, Berkshire, ” WIN, THE BRETTON, SAN, SYLVEST, NEW, Buffett, GREAT, Global Finance, Markets, Thomson Locations: California, Munger, Berkshire, American, DALLAS , TEXAS, GLENVIEW, CALIFORNIA, CONNECTICUT, DIAMOND HILL, COLUMBUS , OHIO, PHOENIX, ” “ Berkshire, , PENNSYLVANIA, ELMHURST, IL, CHARLOTTE, NC, CHERRY LANE, NEW JERSEY, LANCASTER , PENNSYLVANIA, Munger . Berkshire, TROY , MICHIGAN, GREAT HILL
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTarget's earnings this quarter won't give investors a reason to own the stock, says Bill StoneBill Stone, The Glenview Trust Company CIO, discusses his expectations for Target earnings.
Persons: Bill Stone Bill Stone Organizations: Glenview Trust Company
Thanks to a surge in bond yields, Berkshire's cash, which was mainly parked in short-term Treasury bills, grew to a record level of $157.2 billion. These lucrative government bond investments in turn boosted Berkshire's insurance empire, via so-called float. Berkshire's insurance businesses saw a profit of $2.42 billion last quarter, compared with a loss in the prior-year period. Net seller of stocks Berkshire was a net seller of publicly traded stocks in the third quarter, buying $1.7 billion worth of equities while selling nearly $7 billion. One notable move was that the conglomerate sold about $2 billion worth of Chevron shares.
Persons: Warren Buffett, Berkshire Hathaway, Bill Stone, Greggory Warren, Brian Meredith, Meredith Organizations: Glenview Trust, Morningstar, BNSF, Chevron, Berkshire, UBS Locations: Berkshire, Omaha, Omaha , Nebraska, Knox, Glenview
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStone: Earnings will likely finally snap three consecutive quarters of declinesBill Stone, Chief Investment Officer of The Glenview Trust Company, discusses the markets going in Q4.
Persons: Bill Stone Organizations: Glenview Trust Company
Stocks vs. bonds: The best place to invest
  + stars: | 2023-08-07 | 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 EmailStocks vs. bonds: The best place to investBrian Weinstein, Morgan Stanley Investment Management global head of global fixed income, Bill Stones, Glenview Trusts co-CIO, join 'The Exchange' to discuss stocks vs. bonds, what is driving the surge in treasury bill rates, defensive plays in equities, and Berkshire's shares hitting all-time highs following earnings.
Persons: Brian Weinstein, Morgan, Bill Stones Organizations: Morgan Stanley Investment Management, Glenview Trusts
The Omaha-based giant reported Saturday that its operating earnings jumped 6.6% year over year, totaling $10.04 billion last quarter. Berkshire's Class A shares climbed 3% to hit an all-time high of $550,660 on an intraday basis, exceeding the conglomerate's previous high from March 2022. Class B shares of Warren Buffett 's conglomerate rose a similar 2.8%, on track to close at a record high. Berkshire Hathaway shares rallied to a record high Monday following a strong quarterly report that showed a rebound in insurance operations as well as a massive cash hoard that swelled to nearly $150 billion. Insurance underwriting earnings recorded a 74% increase to $1.25 billion, benefiting from higher interest rates and lower catastrophe losses.
Persons: Warren Buffett, Berkshire Hathaway, Buffett, he's, Bill Stone, Apple, Brian Meredith Organizations: Berkshire, Glenview Trust, Apple, UBS Locations: Omaha, Berkshire, Glenview
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStone: There's a good possibility that July won't be the last rate hike by the FedBill Stone, The Glenview Trust Company CIO, discusses the Fed, the equity market, and fixed income.
Persons: Fed Bill Stone Organizations: Fed, Glenview Trust Company
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTwo factors shape the 'bifurcated' US banking market: Glenview’s Bill StoneBill Stone, Chief Investment Officer at Glenview Trust Company, explains why the large banks in the U.S. are performing asia "significantly better" than the smaller lenders.
Persons: Bill Stone Bill Stone Organizations: Glenview Trust Company Locations: U.S, asia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHigh wages are going to keep inflation higher than the Fed wants, says Glenview's Bill StoneBill Stone, chief investment officer at Glenview Trust Company, joins 'The Exchange' to discuss wage inflation and the Federal Reserve.
Persons: Bill Stone Bill Stone Organizations: Fed, Glenview Trust Company, Federal Reserve Locations: Glenview
Berkshire Hathaway Energy has agreed to purchase a 50% stake in the Cove Point liquefied natural gas facility for $3.3 billion in cash. Warren Buffett's big energy and utility division bought the stake from Dominion Energy and will now own a 75% limited partnership stake in Cove Point LNG located in Lusby, Maryland. The Cove Point LNG Terminal has a storage capacity of 14.6 billion cubic feet and a daily send-out capacity of 1.8 billion cubic feet. Berkshire Hathaway first bought a stake in Dominion's gas pipeline and storage assets for $4 billion in 2020. Abel is now vice chairman for noninsurance operations at Berkshire Hathaway and the successor to the 92-year-old "Oracle of Omaha."
Persons: Warren Buffett's, Bill Stone, Buffett, Berkshire Hathaway, Greg Abel, Tom Farrell, Abel, Stone Organizations: Berkshire Hathaway Energy, Dominion Energy, Brookfield Infrastructure Partners, Glenview Trust, Sumitomo Corp, CNBC, Berkshire Hathaway, Oracle, Occidental Petroleum, Chevron Locations: Point, Lusby , Maryland, Berkshire, U.S, Glenview, Omaha, Iowa
What book would you pack if you were isolated in a Mars habitat with three other people for 378 days? The book includes descriptions of "psychological horrors produced by weeks in absolute darkness." Photographed in the Mars Dune Alpha's capsule library was a book titled "Blind Descent: The Quest to Discover the Deepest Cave on Earth," a novel by James Tabor. The living room/dining area inside of CHAPEA's Mars Dune Alpha at the Johnson Space center in Houston, Texas. "Ultimately, this information will help NASA make informed decisions to design and plan for a successful human mission to Mars," Douglas added.
Persons: , it's, Kelly Haston, Nathan Jones, Ross Brockwell —, James Tabor ., Tabor, Bill Stone, Alexander Klimchouk, who've, Jay C, Patrick Lencioni, MARK FELIX, Grace Douglas, Douglas Organizations: NASA, Service, Johnson Space Center, Crew Health, Publishers, Getty Locations: Houston , Texas, Mars, AFP
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStrength in the services sector is beginning to falter, says Annex Wealth's Brian JacobsenBrian Jacobsen, Annex Wealth Management chief economist, and Bill Stone, chief investment officer at The Glenview Trust Company, joins 'The Exchange' to discuss qualities of a lazy bull market, recession worries, and waning resilience of the U.S. consumer.
Persons: Brian Jacobsen Brian Jacobsen, Bill Stone Organizations: Wealth Management, Glenview Trust Company
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Richard Bernstein's Dan Suzuki and Glenview Trust's Bill StoneDan Suzuki, deputy chief investment officer at Richard Bernstein advisors, Bill Stone, chief investment officer at the Glenview Trust Company, joins 'The Exchange' to discuss investing protocol when facing debt ceiling concerns, Warren Buffett's stock playbook, and current stock opportunities.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarket response to debt ceiling debate depends on investors' time horizons, says Dan SuzukiDan Suzuki, deputy chief investment officer at Richard Bernstein advisors, Bill Stone, chief investment officer at the Glenview Trust Company, joins 'The Exchange' to discuss investing protocol when facing debt ceiling concerns, Warren Buffett's stock playbook, and current stock opportunities.
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