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Warren Buffett and his longtime business partner Charlie Munger almost never butt heads, but there has been one rare area of disagreement between the two investment legends. Costco has grown from less than $5 a share in the early 1980s to more than $560 a share today. 'Shoot me first' As Munger's obsession over Costco grew stronger over the years, Buffett learned to make lighthearted jokes about it. "Charlie said, 'I would like to give, once more, my speech on the virtues of Costco — with illustrations.' I kind of used them up between Costco and Apple," Buffett once said.
Persons: Warren Buffett, Charlie Munger, Munger, , Buffett, James Sinegal's, Berkshire Hathaway, didn't, Warren wouldn't, Warren doesn't, Sears Roebuck, It's, Buffett's, he's, Charlie Organizations: Costco Wholesale Corp, Oracle, Price Club, Costco, Berkshire, BNSF, Apple Locations: Omaha, America, Berkshire
She's criticized Trump-era rollbacks on banking oversight for making the SVB failure possible. "Those are much smaller than the bigger banks," CNBC host Sara Eisen said to Warren, referring to banks like SVB. "We've had a number of those CEOs on the shows in the last few days" such as Charles Schwab, she said, who "do their own stress testing." The whole point of stress testing is for someone on the outside of the bank to say, 'what could go wrong here?' What happened to SVB, Warren wrote, is "the direct result of leaders in Washington weakening the financial rules."
When federal regulators stepped in to guarantee deposits at Silicon Valley Bank and Signature Bank late Sunday (more on that here), the goal was simple: Ease the public concerns and calm the markets. Silicon Valley Bank was shut down by regulators on Friday. So about that auction... SVB Financial Group, the parent company of Silicon Valley Bank, is still looking for a buyer. Silicon Valley Bank's UK arm was sold to HSBC for roughly $1 (no, I'm not missing any zeros). Silicon Valley Bank died so interest-rate hikes would stop.
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