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☆ Chubb is 'ideal fit' for Warren Buffett's investment style, says Deutsche Bank
▼ + stars: | 2024-05-16 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's purchase of a 6.4% stake in Chubb makes perfect sense as the insurer checks all the boxes of the Oracle of Omaha's investment criteria, according to Deutsche Bank. "We believe that Chubb is an ideal fit for Warren Buffett's investment philosophy, characterized by high-quality business with strong [returns on equity], a robust economic moat, a proven track record of compounding returns, and a distinguished management team," Deutsche Bank analyst Cave Montazeri wrote in a note to clients. Buffett's Berkshire Hathaway unveiled a $6.7 billion stake in Zurich-based Chubb in a new regulatory filing, ending months of speculation over the identity of the secret stock pick. Deutsche Bank said Chubb has a disciplined approach to underwriting and capital allocation and, in the near term, should benefit from earned pricing above loss costs, strong investment income and growth in its international operations. CB ALL mountain Chubb Deutsche Bank has a buy rating on Chubb and a 12-month price target of $278, implying a 10% gain from Wednesday's close of $252.97.

Persons: Warren Buffett's, Chubb, Warren, Cave Montazeri, Berkshire Hathaway, Montazeri, — CNBC's Michael Bloom Organizations: Oracle, Deutsche Bank, Berkshire, Securities and Exchange Commission, Chubb Deutsche Bank, ISI, Alleghany Corp Locations: Zurich, U.S, Omaha, Berkshire

☆ Warren Buffett's Berkshire Hathaway made a number of changes in its equity portfolio last quarter
▼ + stars: | 2024-05-15 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Warren Buffett unveiled Chubb as his secret buy and Berkshire Hathaway's equity portfolio had some other changes in the first quarter, according to a new regulatory filing. Firstly, the Omaha-based conglomerate tweaked his energy exposure last quarter, adding to its Occidental Petroleum holding slightly and trimming the Chevron stake. Berkshire has been steadily increasing its Occidental bet since it first took a position in the first quarter of 2022. It was previously disclosed that Buffett trimmed Berkshire's Apple holding by 13% in the first quarter. Other than these changes, Berkshire's top 10 holdings remained unchanged last quarter.

Persons: Warren Buffett, Chubb, Buffett Organizations: Berkshire, Occidental Petroleum, Chevron, Occidental, HP, Paramount Locations: Omaha, Berkshire, Louisiana, Pacific

☆ Warren Buffett’s Berkshire Hathaway reveals insurer Chubb as confidential stock it’s been buying
▼ + stars: | 2024-05-15 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Insurer Ace Limited acquired the original Chubb in 2016 for $29.5 billion in cash and stock, and the combined company adopted the Chubb name. His conglomerate Berkshire Hathaway has bought nearly 26 million shares of Zurich-based Chubb for a stake worth $6.7 billion. Warren Buffett finally revealed his secret stock pick in a new regulatory filing, and it's insurer Chubb . Mystery unveiledBerkshire has been keeping this purchase secret for three quarters straight. Berkshire was granted confidential treatment to keep the details of one or more of its stock holdings confidential.

Persons: Warren Buffett, Chubb, Evan Greenberg, Maurice Greenberg Organizations: Berkshire, Ace, American International, Berkshire Hathaway, Alleghany, Chevron, Verizon Locations: Omaha , Nebraska, Zurich, The Omaha, Berkshire, Markel, Omaha

☆ Bronze bust honoring the late Charlie Munger wowed crowd in Omaha at Berkshire meeting
▼ + stars: | 2024-05-11 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

OMAHA, Neb. — A 24-inch tall, bronze bust sculpture of the late Charlie Munger became a conversation piece for guests who lodged at the Omaha Marriott last weekend for the Berkshire Hathaway annual meeting. "I got back to the lobby and the hotel staff was like 'Doerthe came down twice to look for you,'" Yu Shu, the 39-year-old artist behind the sculpture, told CNBC in an interview. "Then they called Doerthe and she came down. I gave her a hug, and I told her 'nice to see you again' and she's like 'we've never met before.'"

Persons: Charlie Munger, Warren Buffett, — Munger's, Wendy, Doerthe Obert, Yu Shu, we've Organizations: Omaha Marriott, Berkshire Hathaway, CNBC Locations: OMAHA, Neb, Omaha, Berkshire

☆ Warren Buffett had to work from his iPhone for days after lines went down at Berkshire Hathaway
▼ + stars: | 2024-05-10 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Warren Buffett slashed his Apple stake then found himself forced to work from his iPhone. The investor turned to the device after phone lines went down this week at Berkshire Hathaway HQ. "I'm glad we didn't sell all of our Apple," Buffett joked to The Omaha World-Herald. The famed investor revealed during Berkshire Hathaway's annual shareholder meeting on Saturday that he'd slashed his Apple stake. He was nodding to Berkshire cashing in 13% of its Apple stake for roughly $20 billion last quarter.

Persons: Warren Buffett, Buffett, —, he'd, Berkshire Hathaway Organizations: Apple, Berkshire Hathaway, Service, Berkshire Hathaway's, Berkshire Locations: Omaha, Berkshire

☆ Warren Buffett's Berkshire Hathaway cut Apple investment by about 13% in the first quarter
▼ + stars: | 2024-05-04 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2024. OMAHA, Nebraska — Warren Buffett's Berkshire Hathaway cut its gigantic Apple stake in the first quarter as the "Oracle of Omaha" continued to downsize his one-time favorite bet. In its first-quarter earnings report, Berkshire Hathaway reported that its Apple bet was worth $135.4 billion, implying around 790 million shares. It sold about 10 million Apple shares (just 1% of its massive stake) in the fourth quarter. This filing, when accounting for the change in Apple's stock price, would imply Berkshire sold about 116 million shares.

Persons: Warren Buffett, OMAHA , Nebraska — Warren, Berkshire Hathaway, Buffett, Ted Weschler, Todd Combs Organizations: Berkshire, OMAHA , Nebraska —, Apple Locations: Omaha , Nebraska, OMAHA , Nebraska, Omaha

☆ Warren Buffett holds first Berkshire Hathaway meeting without Charlie Munger
▼ + stars: | 2024-05-04 | by ( Nicole Goodkind | Eva Rothenberg | ) edition.cnn.com time to read: +3 min

Buffett will appear for the first time without his longtime business partner and friend Charlie Munger, who died in November. In 1978, Munger joined Berkshire Hathaway as vice-chairman and sat by Buffett’s side, quick with a quip or a sage piece of advice. Berkshire’s operating profits are expected to increase by 21% to $6,702 per Class A share, according to the FactSet estimates. Berkshire Hathaway reported a significant uptick in fourth-quarter operating earnings, which totaled $8.5 billion, up from $6.6 billion, or a 28% increase from a year ago. For the year, operating earnings rose to $37.3 billion, after setting a record of $30.8 billion in 2022.

Persons: Warren Buffett, Buffett, Charlie Munger, Greg Abel, Ajit Jain, Munger’s, Munger, ”, “, Charlie, Berkshire Hathaway, “ Charlie, Abel, Greg, ” Buffett, “ Greg Organizations: New, New York CNN, Berkshire Hathaway, Oracle, “, Berkshire Locations: New York, Woodstock, Nebraska, Berkshire, Omaha, “ Berkshire, The Omaha , Nebraska

☆ Souring on Apple? Mystery bank stock? Buffett followers seek clarity on portfolio at annual meeting
▼ + stars: | 2024-05-02 | by ( Yun Li | ) www.cnbc.com time to read: +5 min

Trimming Apple One surprising move from the conglomerate was selling about 10 million Apple shares (just 1% of its massive stake) in the fourth quarter. Second, it could have been Buffett's investment deputies Todd Combs and Ted Weschler who trimmed the Apple stake in order to fund other purchases. There's a chance that Buffett might reveal at the annual meeting the mystery bank stock that Berkshire has been buying for two quarters straight . Berkshire now owns more than 70 million of the tracking stock. "You need higher prices, or it doesn't work," Buffett said at Berkshire's 2023 annual meeting.

Persons: Warren Buffett's, Buffett, Todd Combs, Ted Weschler, Debbie Bosanek, Warren, Berkshire Hathaway, SIRI, Bob Bakish, Berkshire's, You've Organizations: Berkshire Hathaway, CNBC, Apple, Oracle, Securities and Exchange Commission, Verizon, Berkshire, Liberty, Liberty Media Corp, Liberty Media, Liberty Media Sirius, Paramount, Paramount Global, Skydance Locations: Berkshire, Woodstock, Omaha , Nebraska, Omaha, Chevron, New York, The Omaha

☆ Watch the 2024 Berkshire Hathaway annual shareholders meeting on Saturday, May 4
▼ + stars: | 2024-05-01 | 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 the 2024 Berkshire Hathaway annual shareholders meeting on Saturday, May 4Chairman and CEO Warren Buffett will preside over the Berkshire Hathaway annual meeting, nicknamed the "Woodstock for Capitalists." The Omaha, Nebraska, event gives shareholders a chance to hear from the legendary investor on investing, his economic outlook and life. Special coverage on CNBC begins 930a ET/830a CT on Saturday, May 4.

Persons: Warren Buffett Organizations: Berkshire Hathaway, CNBC Locations: Woodstock, Omaha , Nebraska

☆ Maine Democrats threaten switch to a 'winner-take-all' Electoral College system if Nebraska changes how it allocates its electoral votes
▼ + stars: | 2024-04-27 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Jim Pillen's support of a bill that would change the state's system of allocating electoral votes from one determined by individual congressional districts to one that would award the state's five electoral votes to the statewide victor. Nebraska Democrats vehemently fought back against this electoral change before the legislative session ended earlier this month and the measure didn't advance. If Nebraska went through with its change, Trump would likely win the state's entire share of electoral votes, given its strong GOP orientation. But if Maine also switched to a winner-take-all system before the 2024 election, Biden would be heavily favored to win all of that state's electoral votes and would thus win the Electoral College (270 to 268). Maine Democrats — who control the state legislature — had generally not spoken of tweaking their electoral allocation system ahead of 2024.

Persons: —, Donald Trump, Maureen Terry, Jim Pillen's, Pillen, Joe Biden, Biden, Trump, North Carolina —, Maine Democrats —, Terry Organizations: Service, Maine Democratic, Electoral, Donald Trump . Maine, Congressional, Business, Republican Governor, Republican, Trump, Nebraska GOP Gov, Nebraska Democrats, Congressional District, Biden, Michigan, North Carolina, Democratic, Nebraska, Electoral College, Maine Democrats, Nebraska Republican Party Locations: Nebraska, Donald Trump ., Maine, Omaha, Pennsylvania, Wisconsin, Arizona, Georgia, Nevada, North

☆ Warren Buffett's love for Japan may be far from over after $8 billion paper profit
▼ + stars: | 2024-04-21 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway has made billions of dollars from its big investments in Japan, and the Oracle of Omaha's love for the land of the rising sun is only growing deeper. The Omaha-based conglomerate priced 263.3 billion Japanese yen of bonds worth $1.7 billion, marking one of its biggest yen bond sales, according to a regulatory filing released Thursday. The cost of the positions was 1.6 trillion yen ($10.35 billion) and the 2023 yearend market value of the five stakes was 2.9 trillion yen ($18.76 billion), Berkshire revealed in its annual report. Meanwhile, the five Japanese trading companies are all dividend payers, yielding from 1% to more than 3%. Buffett even paid a visit to Japan with his designated successor Greg Abel and met with the heads of the Japanese firms last year.

Persons: Warren, Berkshire Hathaway, Buffett, Chamath Palihapitiya, Greg Abel Organizations: Berkshire, Mitsubishi, Mitsui, Sumitomo ., Tokyo Stock Exchange Locations: Japan, Omaha, Berkshire, Sumitomo . Berkshire

☆ These 10 retail brands are the fastest growing in the U.S., Yelp says
▼ + stars: | 2024-04-10 | by ( Amelia Lucas | ) www.cnbc.com time to read: +6 min

Chains owned by publicly traded restaurant companies accounted for half of the top 10 fastest-growing retail brands in the U.S. last year, according to a new Yelp report. Of the 50 fastest-growing chains in Yelp's report, 35 were restaurant brands. Jack in the Box, First Watch and Dutch Bros were among the public restaurant chains included in the report, but they didn't crack the top 10. Popeyes' higher sales have encouraged franchisees to open more locations and led new operators to join the brand, Restaurant Brands executives have previously said. In 2023, Popeyes surpassed KFC as the second-most popular chicken chain in the U.S. by sales, trailing only Chick-fil-A.

Persons: Jack, Levi Strauss, Cava CAVA, Cava, Zachary Lucy, Scott Olson, Darden, Yum, Stephanie Dhue, Tim Hortons, Burger King, Randy Risling, Popeyes, Michael Siluk, Freddy's, Kyle Rivas, It's, Justin Sullivan Organizations: Dutch Bros, Publicly, Nordstrom, Costco, New York Stock Exchange, Pacific Coast League, Omaha Storm, Memphis Redbirds, AP, LongHorn, Getty, Darden, steakhouse, Parent, Yum Brands, Taco Bell, KFC, East, CNBC, Wawa, Toronto Star, Brands, Restaurant Brands, UCG, Thompson, Capital Partners, Rally House, Kansas City Chiefs, Tampa Bay Buccaneers, Subs Locations: U.S, Cava, Werner, Omaha , Nebraska, Nebraska, Skokie , Illinois, California, West, Wawa, Bethany Beach , Delaware, Philadelphia, It's, Louisiana, Lansing , Kansas, Kansas City , Missouri, Midwest, Pennsylvania, Arizona, Olive, Lincolnwood , Illinois, Jersey, Petaluma , California

☆ Trump wants to deny Biden's easiest reelection path by pushing a last-minute change in Nebraska's election law
▼ + stars: | 2024-04-03 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +6 min

Read previewFormer President Donald Trump is backing a last-minute change to Nebraska's election law that could deprive President Joe Biden of an Electoral College vote that would loom large in a close race. The rest of the state is heavily conservative and has consistently handed its four other electoral votes to Republican nominees. Republicans could make Biden's reelection path more difficult if they successfully changed the law. It's worth being skeptical that Republicans can push this throughNebraska Republicans have gnashed their teeth over the law for years. Pete Ricketts to the US Senate, a move that angered some Nebraska Republicans given that Ricketts had endorsed Pillen over Herbster.

Persons: —, Donald Trump, Joe Biden, Jim Pillen of, Jim Pillen, Trump, Don Bacon, Semafor, Pillen, Charlie Kirk's, Kirk, hasn't, Barack Obama, Sen, Loren Lippincott, it's, Lippincott, Machaela Cavanaugh, Mike McDonnell, Megan Hunt, Hunt, McDonnell, Charles Herbster, Trump's, Pete Ricketts, Ricketts Organizations: Service, Electoral, Trump, Business, Congressional, GOP, Republican, Nebraska, White, Representatives, Nebraska Republicans, Democratic, Electoral College, Democrat, Congressional District, Lincoln Journal Star, Democratic Party, Republican Party, Nebraska Republican, Getty, Gov, Senate Locations: Jim Pillen of Nebraska, Nebraska, Omaha, Wisconsin , Michigan, Pennsylvania, Georgia, Arizona, Nevada, Herbster, Maine

☆ Trump and allies pressure Nebraska to change how it awards electoral votes
▼ + stars: | 2024-04-03 | by ( Daniel Strauss | Jeff Zeleny | ) edition.cnn.com time to read: +6 min

CNN —Former President Donald Trump and his allies have ramped up pressure for Nebraska lawmakers to change the method the state divvies out electoral college votes, an effort that underscores just how narrow the race for 270 electoral votes could be in the November rematch with President Joe Biden. Conservative activist Charlie Kirk kicked off the effort on Tuesday, sending a message on social media urging Nebraska Republicans to act. For weeks, the Biden campaign has had its eye on Omaha and its one electoral vote. For all the talk of Biden’s blue wall of Wisconsin, Michigan and Pennsylvania, winning all three could still leave him short of 270 electoral votes. The 2020 census changed the map based on decreasing populations in Pennsylvania and Michigan, so one of Nebraska’s three electoral votes could become critical should there be a 269-269 tie with Trump.

Persons: Donald Trump, Joe Biden, Charlie Kirk, Jim Pillen, Trump, Jim Pillen of, Let’s, ”, Sen, John Arch, ” Arch, I’m, “, Jen Day, Biden, Megan Hunt, it’s, Jane Kleeb, Loren Lippincott, ” Lippincolt, Trump’s Organizations: CNN, Nebraska, Republicans, Conservative, Nebraska Republicans, Republican Gov, Truth, Republican, “, LB, Capitol, Omaha, Democratic, Nebraska Democratic, Lincoln Journal Star, Trump Locations: Jim Pillen of Nebraska, Nebraska, Lincoln, Omaha, ” Nebraska, Maine, Wisconsin , Michigan, Pennsylvania, Michigan

☆ UBS says Warren Buffett’s Berkshire Hathaway will top $1 trillion in market value in next 12 months
▼ + stars: | 2024-02-28 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway is firing on all cylinders with a $1 trillion market value in sight, according to UBS. Analyst Brian Meredith hiked his 12-month price target on the Berkshire Class A shares to $715,000 from $655,000, and Class B shares to $477 from $435. BRK.A 1Y mountain Berkshire Hathaway Berkshire on Saturday reported a 28% jump in operating earnings in the fourth quarter due to huge gains in its insurance business. Meanwhile, Berkshire's reinsurance and primary insurance operations continued to look solid and benefit from the current market environment, UBS said. The conglomerate recently touched consecutive record highs, trading above $647,000 for Class A shares at its peak and boasting a market value above $900 billion.

Persons: Warren, Berkshire Hathaway, Brian Meredith, Meredith, BRK, Geico Organizations: UBS, Berkshire Class, Insurance, Berkshire Hathaway Berkshire, BNSF Locations: Omaha, Berkshire

☆ Premarket stocks: This rally is nearly unprecedented. Can it last?
▼ + stars: | 2024-02-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Just last week the S&P 500 hit a new all-time high and notched its best showing in a year. But this nearly unprecedented surge in the markets is sparking some concern over what’s driving the rally and whether it can continue. The S&P 500 and Dow last week each reached record levels after blockbuster earnings from the chipmaker set off a broad market rally. The S&P 500 is up more than 6% for the year, but when you equally weigh all of the stocks in the index, it’s up just 2.5%. Last year, the S&P 500 rose by 24.2%, but the equally-weighted index was up by just 11.6%.

Persons: Sam Stovall, Tesla, Jamie Dimon, ” Dimon, CNBC’s Leslie Picker, That’s, ”, What’s, Warren Buffett, Berkshire Hathaway, Eva Rothenberg, Buffett, Gary Pilnick’s, WK Kellogg, Pilnick, Bran, ” Pilnick, hasn’t, Carl Quintanilla Organizations: CNN Business, Bell, New York CNN —, Nvidia, Dow, Nasdaq, Health, Tech, Deutsche Bank, Microsoft, Apple, Amazon, Google, JPMorgan, Federal Reserve, Traders, PCE, Berkshire, CNBC Locations: New York, Berkshire, Omaha , Nebraska, Omaha, United States

☆ Premarket stocks: Why you can feel good about your job prospects for a while longer
▼ + stars: | 2024-02-26 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

A cyclical slowdown has to come unless you’re in the camp that thinks structural growth of the economy has risen dramatically. We don’t think that’s the case. Do you think that’s the case? The jobs market is a byproduct of GDP growth. I think that this should make people feel a little bit better about the prospects for the year.

Persons: Bell, Satyam Panday, It’s, we’ve, that’s, Warren Buffett, Charlie Munger, Warren Buffett’s, Buffett, Munger, ”, Charlie, Berkshire Hathaway, Brian Fung Organizations: CNN Business, Bell, New York CNN, Satyam, Federal Reserve, Berkshire Hathaway, Investors, Oracle, “, Berkshire, US, Facebook, YouTube Locations: New York, Real, Berkshire, Omaha, “ Berkshire, The Omaha , Nebraska, Texas, Florida

☆ Can Buffett’s Berkshire make the $1 trillion milestone? Analysts weigh in
▼ + stars: | 2024-02-26 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Wall Street analysts have a cautious view on Berkshire Hathaway , though they praised a solid earnings report over the weekend from Warren Buffett 's conglomerate. Berkshire also said its cash rose to a record $167.6 billion, topping its prior high of $157.2 billion held in the previous quarter. Berkshire's stock initally rose in trading on Monday, with both classes hitting all-time highs intraday, and bringing the conglomerate closer to a $1 trillion valuation. BRK.A YTD mountain Berkshire Hathaway Class A However, many Wall Street analysts are wary on Berkshire, with many expecting that the stock is fairly valued as much of the strength is already priced into the stock. Berkshire's solid earnings reflected outperformance in auto insurer Geico, but the results were dinged by lower earnings in utilities and energy.

Persons: Berkshire Hathaway, Warren Buffett, FactSet, Edward Jones, James Shanahan, Keefe, Woods, Meyer Shields, Shields, Brian Meredith, CFRA's Catherine Seifert, Buffett, Michael Bloom Organizations: Berkshire Hathaway, Wall, UBS Locations: Berkshire, Omaha

☆ Warren Buffett: Berkshire’s boom days may be over as his company approaches $1 trillion in value
▼ + stars: | 2024-02-26 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +2 min

New York CNN —Berkshire Hathaway neared a $1 trillion market valuation Monday after a record-breaking year, but CEO Warren Buffett warned in his annual letter to investors that more skyrocketing performances are likely a thing of the past. Berkshire Hathaway (BRK.B) saw its shares jump nearly 2%, to $429, on Monday morning after closing with a market cap of $905 billion on Friday. Only a handful of companies worldwide has ever reached the $1 trillion milestone, among them tech giants Amazon, Apple and Microsoft. Berkshire has about $167.6 billion in cash and equivalents, breaking last quarter’s record-high $157.2 billion. For the year, operating earnings rose to $37.3 billion, after setting a record of $30.8 billion in 2022.

Persons: Berkshire Hathaway, Warren Buffett, ”, Buffett, “ Organizations: New, New York CNN, Berkshire, Apple, Microsoft, Mitsubishi, Mitsui, Sumitomo Locations: New York, Omaha , Nebraska, Berkshire, Omaha, United States, ”

☆ Warren Buffett says Berkshire may only do slightly better than the average company due to its sheer size
▼ + stars: | 2024-02-24 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett and Charlie Munger at press conference during the Berkshire Hathaway Shareholders Meeting in Omaha, Nebraska, April 30, 2022. Berkshire Hathaway 's Warren Buffett said his sprawling conglomerate may only slightly outperform the average American company due to its sheer size and the lack of buying opportunities that could make an impact. The 93-year-old Buffett said Berkshire's group of diversified, quality businesses should provide "slightly better" performance than the average U.S. company, but anything more than that is unlikely. 'With our present mix of businesses, Berkshire should do a bit better than the average American corporation and, more important, should also operate with materially less risk of permanent loss of capital," Buffett said. "Anything beyond 'slightly better,' though, is wishful thinking."

Persons: Warren Buffett, Charlie Munger, Berkshire Hathaway, Apple —, Buffett, — Organizations: Berkshire, BNSF Railway, Apple, Oracle, Occidental Petroleum, Berkshire ., Mitsubishi, Mitsui, Sumitomo Locations: Omaha , Nebraska, Omaha, Dairy, Berkshire, Alleghany, U.S

☆ Warren Buffett honors Charlie Munger in annual note, Berkshire reports record cash pile
▼ + stars: | 2024-02-24 | by ( Nicole Goodkind | Eva Rothenberg | ) edition.cnn.com time to read: +11 min

Courtesy of Susie Buffett Buffett teaches a class at the University of Nebraska-Omaha. Courtesy of Susie Buffett Buffett married his first wife, Susan, in 1952. Courtesy of Susie Buffett Buffett and his wife pose at the beach with their three children. Courtesy of Susie Buffett Buffett poses for a photo in 1980. Nati Harnik/AP Buffett and Berkshire Hathaway Vice Chairman Charlie Munger are seen on a giant screen during the Berkshire Hathaway shareholders meeting in 2013.

Persons: Warren Buffett’s, Charlie Munger, Buffett, Munger, ”, Charlie, Berkshire Hathaway, “ Charlie, Munger’s, Greg Abel, Abel, Berkshire’s, Greg, ” Buffett, “ Greg, Berkshire Berkshire Hathaway, Warren Buffett, Nati, Laila, Howard Buffett, Howard, Susie Buffett, Ernest, Susie Buffett Laila Buffett, Warren, Doris, Susie Buffett Warren Buffett, Susie Buffett Buffett, Susan, Peter, Lee Balterman, Salomon, Marcy Nighswander, AP Buffett, Buffett's, Mark Peterson, Curt Hudson, Arnold Schwarzenegger, Kathy Willens, Chris Machian, Dave Weaver, Michael Israel, John Sleezer, Bill Gates, Mario Tama, Barack Obama, Obama, doggedly, isn't, Jim Watson, Daniel Acker, Harry Benson, Getty Images Buffett, Astrid, David Cameron, Brendan Hoffman, Kristoffer Tripplaar, Alamy Buffett, Scott Eells, Chris, Franklin, Ndamukong Suh, Scott Olson, Huang Jihui, Jason Miller, Adam Jeffery, Hillary Clinton, Kempin, Forbes, Andy Kropa, Scott Morgan, Reuters Buffett, Andrew Harrer, Apple Berkshire Hathaway Organizations: New, New York CNN, Berkshire Hathaway, Investors, Oracle, “, Berkshire, Berkshire Berkshire, University of Nebraska -, Getty, Federal Reserve, AP, Omaha for Berkshire, Bloomberg, California Gov, Wall Street, Schwarzenegger's, Kansas City Royals, Kansas City Star, Girl Scouts, Buffett, Microsoft, Getty Images, White, British, Woodrow Wilson High, Washington, Forbes, Harlem Globetrotters, Cleveland Cavaliers, Moon, NBA, CNBC, Reuters, Apple Berkshire, Apple, Securities and Exchange Commission, HP, Paramount Locations: New York, Omaha, “ Berkshire, Berkshire, The Omaha , Nebraska, Omaha , Nebraska, University of Nebraska - Omaha, Omaha for, Woodstock, Trenton , New Jersey, AFP, Washington , DC, Illinois, Sun Valley , Idaho

☆ Berkshire Hathaway ramps up buying in secret stock. Here's what we know
▼ + stars: | 2024-02-24 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Warren Buffett's Berkshire Hathaway is ramping up buying in a secret stock that could be in the banking sector. If Berkshire's latest earnings report is any indication, the new stock could be in the financial sector. That's larger than the $1.213 billion increase in the third quarter, indicating Berkshire accelerated buying in whatever position it's building. Apple , which is the Oracle of Omaha's biggest holding, amounted to a $174.3 billion stake at the end of December, up $55.3 billion from $119 billion in 2022. Berkshire's American Express stake rose to $28.4 billion in December from $22.4 billion in the year-ago period.

Persons: Warren, Berkshire Hathaway, —, Alex Crippen Organizations: Apple, Omaha's, Chevron, Berkshire's American, Bank of America Locations: Omaha, Berkshire, Chevron

☆ Warren Buffett calls the late Charlie Munger 'part older brother, part loving father' in heartfelt tribute
▼ + stars: | 2024-02-24 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett shared a heartfelt tribute to the late Charlie Munger, calling his business partner of 60 years the architect of today's Berkshire Hathaway . "In reality, Charlie was the 'architect' of the present Berkshire, and I acted as the 'general contractor' to carry out the day-by-day construction of his vision," Buffett wrote. In a way his relationship with me was part older brother, part loving father." With much back-sliding I subsequently followed his instructions," Buffett wrote in the letter. Though I have long been in charge of the construction crew; Charlie should forever be credited with being the architect," Buffett said.

Persons: Warren Buffett, Charlie Munger, Berkshire Hathaway, Charlie, Buffett, Munger, Warren, Ben Graham, Benjamin Graham, jerked Organizations: Oracle, Columbia University, BNSF Railway Locations: Berkshire, Omaha, Dairy

☆ Berkshire Hathaway operating earnings jump 28% in the fourth quarter, cash pile surges to record
▼ + stars: | 2024-02-24 | by ( Sarah Min | ) www.cnbc.com time to read: 1 min

Berkshire Hathaway on Saturday reported a big rise in operating earnings in the fourth quarter, thanks to huge gains in its insurance business, while its cash pile expanded to record levels. The Omaha-based conglomerate posted operating earnings — which refers to profits from businesses across insurance, railroads and utilities — of $8.481 billion in the quarter ending December. That's 28% above the $6.625 billion from the year-ago period. For the full year 2023, that brought operating earnings up to $37.350 billion, up 17% from $30.853 billion in the prior year. Berkshire also held $167.6 billion in cash in the fourth quarter, a record level that surpasses the $157.2 billion the conglomerate held in the prior quarter.

Persons: Berkshire Hathaway Organizations: That's, Berkshire Locations: Omaha, Berkshire

☆ Warren Buffett’s highly anticipated annual letter arrives Saturday. Here’s what to expect
▼ + stars: | 2024-02-23 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Warren Buffett is about to release his must-read annual letter where he's expected to pay a heartwarming tribute to the late Charlie Munger. The 93-year-old chairman and CEO of Berkshire Hathaway is slated to release his annual shareholder letter Saturday at 8:00 a.m. "Succession is a top-of-mind issue for many Berkshire investors," Cathy Seifert, Berkshire analyst at CFRA Research, said in a note. Buffett's investment lieutenants, Todd Combs and Ted Weschler, have taken on more responsibilities at Berkshire, independently overseeing about $15 billion each. The run up in Berkshire shares may have curbed the amount of buyback activity in the fourth quarter.

Persons: Warren Buffett, Charlie Munger, Berkshire Hathaway, Steve Check, Munger, Buffett, Munger's, it's, Greg Abel, Cathy Seifert, Todd Combs, Ted Weschler, Todd, Ted Organizations: Check Capital Management, Berkshire, CFRA Research, Investors, Berkshire Hathaway, BNSF Railway Locations: Berkshire, Berkshire Hathaway The Omaha, Dairy

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