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6 mentions found


☆ Why Warren Buffett's Paramount bet may have cost him $1.5 billion
  + stars: | 2024-05-06 | by ( Peter Kafka | ) www.businessinsider.com   time to read: +3 min
Famed investor Warren Buffett's Berkshire Hathaway placed a $2.7 billion bet on Paramount in 2022. But when someone who's worth an estimated $132 billion says "quite a bit of money," it's probably a very big amount. The math: In 2022, Berkshire accumulated 91 million shares of Paramount B shares; Barron's estimates he paid "more than $30" per share. AdvertisementThat left Berkshire with another 63.3 million Paramount shares at the beginning of 2024, and sometime between then and Saturday they have sold off the rest. Add all that up, and it looks like Berkshire sold its Paramount stake for $1.2 billion after paying $2.7 billion for it — a $1.5 billion loss.
Persons: Warren Buffett's Berkshire Hathaway, hasn't, — Buffett, —, Warren Buffett, Berkshire Hathaway, Buffett, we've, Berkshire Hathaway hasn't, Berkshire Organizations: Paramount, Service, Sony, Apollo, Berkshire, Bloomberg Locations: Berkshire
☆ Charlie Munger only trusted one person besides Warren Buffett with his personal fortune. Here's a look at Li Lu's tribute to the legendary investor.
  + stars: | 2023-12-04 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +3 min
Charlie Munger's close friend and confidant, Li Lu, recently penned a tribute to the late investor. AdvertisementA close friend and confidant of Charlie Munger recently published a tribute to the legendary investor who died last week, highlighting the values and principles that made him unique. Li Lu, the only person other than Warren Buffett who Munger trusted to invest his personal fortune, penned a eulogy titled "Remembering my teacher Charlie Munger" on Facebook. Li has roughly quintupled the sum since then, making it little surprise that Munger — Buffett's right-hand man and Berkshire Hathaway's vice chairman — has dubbed him the "Chinese Warren Buffett." "Charlie Munger answered those questions through his long exemplary life."
Persons: Charlie Munger's, Li Lu, Warren Buffett's, Li, Munger, —, Charlie Munger, Warren Buffett, Charlie Organizations: Service, Facebook, Berkshire Hathaway's, Berkshire, Daily, Capital Management Locations: BYD, China
☆ At 99, billionaire Charlie Munger shared his No. 1 tip for living a long, happy life: 'Avoid crazy at all costs'
  + stars: | 2023-12-03 | by ( Tom Huddleston Jr. | ) www.cnbc.com   time to read: +3 min
Charlie Munger, who died at age 99 last week, attributed his success and longevity at least partially to a single piece of advice: "Avoid crazy at all costs." That's what he told CNBC's Becky Quick last month, in an interview meant to air on his 100th birthday in January. When pressed for his keys to a long and successful life, Munger at first demurred, saying "I don't know the secret." Just avoid it, avoid it, avoid it." "My partner Charlie says there is only three ways a smart person can go broke: liquor, ladies and leverage," Buffett told CNBC's "Squawk Box" in 2018.
Persons: Charlie Munger, CNBC's Becky Quick, Munger, Warren Buffett, he'd, Charlie, Buffett, CNBC's, Berkshire Hathaway, —, I've, Coke Organizations: Forbes, Buffett, Berkshire Locations: Berkshire
☆ 'Oracle of Boston' Seth Klarman's value investing principles have stood the test of time
  + stars: | 2023-07-31 | by ( Yun Li | ) www.cnbc.com   time to read: +2 min
Baupost Group's Seth Klarman, nicknamed "the Oracle of Boston," is revered in value investing circles for his disciplined investment philosophy, maybe because his style has stood the test of time. The billionaire hedge fund manager has been an almost religious follower of Benjamin Graham's investing style, buying out-of-favor and undervalued assets to ensure a margin of safety. Klarman has drawn comparisons to Warren Buffett — Buffett being a student of Graham's at Columbia University — for his patient, disciplined investment style. The 66-year-old Harvard and Cornell grad published his investment book, "Margin of Safety," in 1991. The hedge fund manager posted a mid-single digit decline last year, beating the S & P 500 which fell nearly 20%, the Financial Times reported.
Persons: Baupost, Seth Klarman, Benjamin Graham's, Klarman, Warren Buffett — Buffett, Columbia University —, Benjamin Graham, David Dodd, Klarman hasn't Organizations: Oracle, Boston, Columbia University, Harvard, Cornell grad, CNBC, Financial Times Locations: Baupost
☆ Seth Klarman says investors face the challenge of an 'everything bubble'
  + stars: | 2023-06-27 | by ( Jeff Cox | ) www.cnbc.com   time to read: +3 min
When billionaire hedge fund manager Seth Klarman looks at the investing world today, he sees asset bubbles pretty much everywhere. Historically low interest rates, even zero rates, have precipitated that bubble." With the investing world now ruled by trendy bubble-like investments such as Bitcoin and meme stocks, Klarman said the need for a sound, practical approach to investing is vital. In a letter to clients at the end of 2022, he accused the U.S. central bank of constructing a "financial fantasyland" of artificially low interest rates and liquidity pumping. In the current environment, investors face challenges relating to economic uncertainty and a central bank holding interest rates high to battle inflation.
Persons: Seth Klarman, we've, Klarman, Benjamin Graham, David Dodd, You've, Warren Buffett — Buffett, Columbia University —, Graham, Dodd Organizations: CNBC, Cornell, Columbia University, Buffett, Liberty, Federal Reserve Locations: Boston, U.S
☆ Elon Musk suggests Warren Buffett should buy Tesla stock - and reveals Charlie Munger could have invested in 2008 at a tiny fraction of its valuation today
  + stars: | 2023-02-27 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +3 min
Warren Buffett's Berkshire Hathaway should invest some of its excess cash in Tesla, Elon Musk said. Charlie Munger had the chance to buy into Tesla at a $200 million valuation in 2008, Musk said. Munger could have made 3,000 to 6,000 times his money, as Tesla is worth over $600 billion today. Musk's tweet suggests that Munger — Buffett's 99-year-old business partner and Berkshire's vice-chairman — could have bought, say, 5% of Tesla for a measly $10 million in 2008. Munger and Buffett have never publicly invested in Tesla, but both men have weighed in on Musk and his car company.
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