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☆ Melinda French Gates shares the best lesson she got from Charlie Munger: ‘What a thing to aspire to’
▼ + stars: | 2024-06-30 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Charlie Munger wasn't just an acclaimed investor, one of the masterminds behind Berkshire Hathaway's decades of financial success. He also gave great life advice, according to billionaire philanthropist Melinda French Gates. French Gates, 59, shared her favorite lesson of Munger's during a recent commencement speech at Stanford University. "As a society, we aren't always set up to feel responsibility for the person who's next to us or the person who's on the other side of a divide or a debate," French Gates added. Similarly, French Gates urged her audience to make "strong, reciprocal bonds with other people, even if they disagree on issues big or small."

Persons: Charlie Munger wasn't, Melinda French Gates, French Gates, Charlie, Gates, Munger, Berkshire Hathaway — Warren Buffett's, Lisa Skeete Tatum, Landit, Skeete Tatum Organizations: Stanford University, Berkshire, CNBC Locations: Berkshire, French

Thedieck, now 31, is still in the military, and has gotten an awful lot of what he's wanted ever since. Darren Thedieck, age 31, joined the Air Force at age 18. Saving on a military salaryThedieck was interested in saving and investing long before he joined the Air Force. Right now, though, the plan is for that money to provide a financial "cushion" for the family, Thedieck says. Instead of full retirement after military life, both he and Naudia plan to take off in a new direction.

Persons: Darren Thedieck wasn't, he's, Thedieck, He's, Darren Thedieck, Andrea Ferro, Naudia, Denmark —, he'll, — Warren Buffett, Benjamin Graham, Darren, That's, They're Organizations: CNBC, U.S . Air Force, Air Force, titans, Social Security, Service Credit Union, Apple, Disney, Netflix, Spotify, FIRE Locations: Las Vegas, England, South Korea, Germany, Aviano, Italy, Venice, Denmark, United States

☆ Warren Buffett says Greg Abel will make Berkshire Hathaway investing decisions when he's gone
▼ + stars: | 2024-05-04 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

OMAHA, Nebraska — Warren Buffett said Saturday his designated successor Greg Abel will have the final say on Berkshire Hathaway's investing decisions when the Oracle of Omaha is no longer at the helm. Berkshire investing managers, Todd Combs and Ted Weschler, both former hedge fund managers, have helped Buffett manage a small portion of the stock portfolio (about 10%) for about the last decade. There was speculation that they may take over that portion of the Berkshire CEO role when he is no longer able. But it seems, based on Buffett's latest comments, that Abel will have final decisions on all capital allocation — including stock picks. Berkshire acquired MidAmerican Energy in 1999 and Abel became CEO of the company in 2008, six years before it was renamed Berkshire Hathaway Energy in 2014.

Persons: OMAHA , Nebraska — Warren Buffett, Greg Abel, Greg, Buffett, Abel, Charlie Munger, you've, Todd Combs, Ted Weschler Organizations: Berkshire, Oracle, Apple, MidAmerican Energy, Berkshire Hathaway Energy Locations: OMAHA , Nebraska, 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

☆ Buffett says Berkshire sold its entire Paramount stake: 'We lost quite a bit of money'
▼ + 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. — Warren Buffett revealed that he dumped Berkshire Hathaway's entire Paramount stake at a loss. "I was 100% responsible for the Paramount decision," Buffett said at Berkshire's annual shareholder meeting. "It was 100% my decision, and we've sold it all and we lost quite a bit of money"This is breaking news. Please check back for updates.

Persons: Warren Buffett, — Warren Buffett, Buffett, we've Organizations: Berkshire, Paramount Locations: Omaha , Nebraska, OMAHA, Neb, Berkshire

☆ Warren Buffett says Berkshire Hathaway is looking at an investment in Canada
▼ + stars: | 2024-05-04 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

OMAHA, Neb. — Warren Buffett said that Berkshire Hathaway is looking into an investment in Canada. "We do not feel uncomfortable in any shape or form putting our money into Canada," he told an arena full of investors Saturday. But Buffett noted the similarity in operations between the Canada and the U.S."There's a lot of countries we don't understand at all," Buffett said. "So, Canada, it's terrific when you've got a major economy, not the size of the U.S., but a major economy that you feel confident about operating there."

Persons: — Warren Buffett, Berkshire Hathaway, He's, Buffett, you've Organizations: Home Capital Group, Oracle Locations: OMAHA, Neb, Berkshire, Canada, Omaha, U.S

— Warren Buffett's annual shopping event, the pregame to Berkshire Hathaway 's annual meeting, is wowing shareholders flocking here this weekend. JazwaresSquishmallow pit at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nevada on May 3, 2024. Sarah Min | CNBCSome highlights include the latest Squishmallows toys for Buffett and Charlie Munger, a splashy Squishmallows pit, as well as other displays. Poor Charlie's AlmanackCharles Munger remembrance ahead of the Berkshire Hathaway Annual Shareholders Meeting at Omaha, Nevada on May 3, 2024. Sarah Min | CNBCThe Bookworm only had one book to sell this year: "Poor Charlie's Almanack: The Essential Wit and Wisdom of Charles T.

Persons: Warren Buffett, Charlie Munger, Sarah Min, — Warren, Berkshire Hathaway, Brooks, Buffett, Charles Munger, Charles T, Munger, Haslam, Warren Buffett's Berkshire Hathaway, CNBC Brooks Organizations: Berkshire Hathaway, CNBC OMAHA, Berkshire, CHI, CNBC, CNBC Jazwares, Berkshire Hathaway's, FlightSafety, CNBC Berkshire, Travel Centers, Procter & Gamble Locations: Omaha , Nebraska, Neb, Omaha , Nevada, Berkshire, North America, Brooks, Queen

☆ Gold hit another record high. Here's why Warren Buffett remains one of the biggest haters of the yellow metal
▼ + stars: | 2024-04-14 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

"Gold ... has two significant shortcomings, being neither of much use nor procreative," Buffett said in his 2011 annual letter. Meanwhile, if you own one ounce of gold for an eternity, you will still own one ounce at its end." Gold hit a new, all-time high above $2,400 an ounce on Friday, enjoying its third straight week of gains. Silver buying spree Buffett's vocal criticism of gold doesn't mean that he's never dabbled in precious metals. In the late 1990s, the Ben Graham acolyte went on a big silver buying spree, with Berkshire owning 129.7 million ounces of silver.

Persons: — Warren Buffett, Buffett, Gold Buffett, Croesus, Berkshire Hathaway, Ben Graham acolyte Organizations: Oracle, Investors, Berkshire Locations: East, Europe, Asia, Omaha, United States

☆ Cramer covers two of the stock market's most popular figures — Warren Buffett and Elon Musk
▼ + stars: | 2024-04-10 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCramer covers two of the stock market's most popular figures — Warren Buffett and Elon Musk"Mad Money" host Jim Cramer discusses his take on both Warren Buffett and Elon Musk.

Persons: Cramer, — Warren Buffett, Elon Musk, Jim Cramer, Warren Buffett

KNOXVILLE, Tenn. (AP) — Warren Buffett’s Berkshire Hathaway is buying the remaining 20% of the Pilot truck stop business it does not already own from the Haslam family, the two announced on Tuesday. Berkshire confirmed it now owns all of Pilot Travel Centers. The sale follows the settlement of a lawsuit earlier this month that pitted Cleveland Browns owner Jimmy Haslam against Buffett’s Berkshire over the Pilot stake's value. The 2017 agreements also gave Pilot Corp. an annual 60-day opportunity, beginning Jan. 1 this year, to sell its remaining 20% interest in PTC to Berkshire. The sale price would be calculated using PTC’s earnings in the prior year.

Persons: — Warren, Berkshire Hathaway, Haslam, Jimmy Haslam, Jim Haslam II Organizations: . Berkshire, Travel Centers, Cleveland Browns, Buffett’s Berkshire, Berkshire, PTC, Pilot Corp, Wilco Locations: KNOXVILLE, Tenn, Berkshire, Knoxville , Tennessee, U.S, Gate City , Virginia

☆ Jeff Bezos and Lauren Sánchez channeled 'mob chic,' the internet's hottest style trend, at Milan Fashion Week
▼ + stars: | 2024-01-16 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +2 min

Jeff Bezos and Lauren Sánchez recently attended men's fashion week in Milan. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementIf you want to know how to nail down the "mob wife" look that's going viral on social media, you'd be wise to take tips from Jeff Bezos' partner, Lauren Sánchez. His fiancée, meanwhile, was peak "mob wife" — wearing a sheer, floor-length black lace Dolce & Gabbana dress for the evening event. Robino Salvatore/GC ImagesThe "mob wife" fashion trend, which is the antithesis of 2023's "quiet luxury" aesthetic is all about opulence.

Persons: Jeff Bezos, Lauren Sánchez, Bezos, Sánchez, —, you'd, Robino Salvatore, Robert Armstrong, Armstrong, — Warren Buffett, Elon Musk Organizations: Service, Dolce, Gabbana, Amazon Locations: Milan

The Haslams' lawyers and a representative for the family didn't immediately respond to requests for comment. A senior executive who had been promised a bonus revealed that to the current Pilot CEO, who Berkshire appointed after it took over, according to the filing. Berkshire initially bought 38.6% of Pilot back then for $2.758 billion before more than doubling that to 80% this year for an additional $8.2 billion. Pilot is the nation’s largest network of truck stops with more than 850 locations and roughly 30,000 employees in the United States and Canada. Berkshire said it's impossible to calculate how much Pilot's profits may have been inflated this year because of decisions executives who were promised bonuses made.

Persons: — Warren, Berkshire Hathaway, Haslam, Jimmy Haslam, Bill Haslam —, Berkshire, Jim Haslam — Jimmy, Bill Haslam's, —, Buffett Organizations: Cleveland Browns, Berkshire, BNSF, Apple, American Express, Bank of America Locations: OMAHA, Neb, Berkshire, Tennessee, Knoxville , Tennessee, United States, Canada

(AP) — Warren Buffett's company has reported a nearly $13 billion loss in the third quarter as the paper value of its investments fell, but the companies it owns — particularly the insurers — generally performed well. Berkshire Hathaway said Saturday that it lost $12.8 billion, or $8,824 per Class A share, in the quarter. That's significantly bigger than the $2.8 billion loss, or $1,907 per Class A share, that it reported a year ago. A year ago, the insurers reported a $1.1 billion loss in the third quarter. The biggest driver in that increase in expenses was a $1.3 billion loss related to wildfires at its PacifiCorp unit.

Persons: — Warren, Berkshire Hathaway, Berkshire didn't, Buffett, See's, hasn't, Josh Funk Organizations: Berkshire, Apple, Accounting, FactSet Research, BNSF, hathaway Locations: OMAHA, Neb, Berkshire, Omaha , Nebraska, berkshire

☆ Bitcoin is on the rise again. Here’s why Warren Buffett remains a crypto hater
▼ + stars: | 2023-10-22 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Cryptocurrencies are on the rise again, helped by optimism surrounding the possible introduction of a spot bitcoin ETF. But no matter how strong this rally gets, it won't convince one of the industry's biggest critics — Warren Buffett. Bitcoin surged 10% over the past week, at one point briefly topping $30,000, as hopes grew that a spot bitcoin ETF will soon be approved. But whether a bitcoin ETF soon becomes reality or not, it won't alter the Oracle of Omaha's thesis on cryptocurrencies, which is that they are highly speculative, non-productive assets. Buffett, who once famously called bitcoin "probably rat poison squared," has compared the bitcoin phenomenon to the tulip bulb mania in the Netherlands in the early 1600s .

Persons: — Warren Buffett, Bitcoin, Buffett, It's, Buck Rogers, Charlie Munger, Munger, bitcoin Organizations: CNBC, Berkshire Locations: Netherlands, Berkshire, U.S, United States, bitcoins

☆ Behind Warren Buffett's $100 billion-plus bet on Apple and the iPhone
▼ + stars: | 2023-09-17 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

The new iPhone 15 is about to hit the stores, and Apple CEO Tim Cook might have already sent one to his most important investor — Warren Buffett. He bought Apple shares after realizing how devoted people are to its phones, and its unique ability to keep consumers spending within the Apple ecosystem. His return has been well over $100 billion on paper, making Apple Buffett's best investment over the past decade. "Our railroad is a very good business, but it's not remotely as good as Apple's business," Buffett said at the Berkshire shareholder meeting in May . The billionaire investor has called Apple Berkshire's "third-largest business," after its insurance and railroad holdings.

Persons: Tim Cook, — Warren Buffett, Buffett, Ted Weschler, Todd Combs, Ben Graham, Cook, buybacks Buffett, repurchases, Apple's Organizations: Apple, Oracle, New, Wall, CNBC Locations: Berkshire, Omaha

☆ Insider Today: Apple's new iPhone is here
▼ + stars: | 2023-09-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

This post originally appeared in the Insider Today newsletter. But the show's real stars were the new versions of Apple's iPhone and Apple Watch. But if you were hoping a new iPhone will send Apple's stock soaring, think again. Prior to Tuesday's event, Apple's shares fell an average of 0.2% on days a new iPhone was announced, according to Barron's. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: Bond, Elon Musk's, Justin Sullivan, Octavia Spencer, Tim Cook, Max, Insider's Sarah Jackson, Jordan Hart, Lakshmi, iPhones, Gary Coronado, Jamie Dimon, — Warren Buffett —, Bill Gross, DoubleLine's Jeffrey Gundlach, Pimco, DoubleLine's, Gross, Anna Moneymaker, Thomas Trutschel, isn't, Sundar Pichai, Elon, Walter Isaacson, Read, Kent Walker, Chelsea Jia Feng, Patreon, Naomi Osaka, Shaquille O'Neal, Allegra, Dayquil, Jennifer Aniston, Reese Witherspoon, Yelp, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Jets, Apple, Apple Watch, Getty, Bloomberg, JPMorgan, Wall, Google, Software, Amazon, FDA, North American, Detroit Auto, GMC, Bourbon Locations: Wall, Silicon, Milwaukee, Lakshmi Varanasi, ., China, that's, Latvia, Estonia, Chelsea, Colorado, Arizona, Morocco, New York City, San Diego, London, New York

☆ The most important thing Warren Buffett said Saturday, and it isn't good news for the economy
▼ + stars: | 2023-05-08 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Investors always look to Buffett for economic insights as his myriad of businesses are closely tied to broader spending and overall demand. If you couldn't sell them one thing, they would put another thing in their backlog," Buffett said. Still, Buffett thinks Berkshire is positioned well in terms of its investment income as higher interest rates are earning the conglomerate a substantial return. Berkshire has fared well so far despite a challenging macro environment with operating earnings jumping 12.6% in the first quarter. "Nothing is sure tomorrow, nothing is sure next year, and nothing is ever sure, either in markets or in business forecasts, or in anything else," Buffett said.

☆ Warren Buffett says Berkshire Hathaway won't take full control of Occidental Petroleum
▼ + stars: | 2023-05-06 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Follow our live coverage of Warren Buffett at Berkshire Hathaway meeting. — Warren Buffett said Saturday that Berkshire Hathaway doesn't plan on taking full control of Occidental Petroleum , an oil giant where it has amassed a stake north of 20%. "There's speculation about us buying control, we're not going to buy control," the 'Oracle of Omaha' said at Berkshire's annual shareholder meeting. "We will not be making any offer for control of Occidental, but we love the shares we have," Buffett said. Berkshire owns $10 billion of Occidental preferred stock, and has warrants to buy another 83.9 million common shares for $5 billion, or $59.62 each.

☆ Warren Buffett says Berkshire managers were surprised by economic slowdown, earnings to decline
▼ + stars: | 2023-05-06 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

— Warren Buffett struck a pessimistic tone about Berkshire Hathaway 's myriad of businesses on Saturday, saying he expects an earnings decline in light of an economic slowdown. Berkshire has fared well so far despite a challenging macro environment with operating earnings jumping 12.6% in the first quarter. And a number of our managers were surprised," Buffett said. The Federal Reserve just approved its 10th rate hikes since 2022, taking the fed funds rate to a target range of 5%-5.25%, the highest since August 2007. "It was more extreme in World War II, but this was extreme this time," Buffett said.

☆ From Disney to Target to Boeing, retirement is a thing of the past for CEOs
▼ + stars: | 2022-12-11 | by ( Bob Woods | ) www.cnbc.com time to read: +5 min

SUN VALLEY, ID - JULY 13: (L-R) Bob Iger, chairman and chief executive officer of The Walt Disney Company, Dick Costolo, former chief executive officer of Twitter, Lachlan Murdoch, co-chairman of Twenty-First Century Fox, Sundar Pichai, chief executive officer of Google, and Randall Stephenson, chief executive officer of AT&T, mingle during the annual Allen & Company Sun Valley Conference, July 13, 2018 in Sun Valley, Idaho. The average tenure for departing CEOs during that same time period was about 11 years, up from nine years in 2020. That's not surprising, because of the impact of the pandemic and [other] crises, where boards put CEO succession on hold," Anterasian said. "In our research, boards put CEO succession on hold during crises," Anterasian said. At Disney, Iger has said he will only stay on for two years before a successor takes over.

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