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☆ Berkshire Hathaway once again keeps new stock purchase secret, trims giant Apple stake
▼ + stars: | 2024-02-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway asked regulators to keep its new stock purchase secret for a second quarter in a row, while the conglomerate trimmed its massive Apple stake slightly in the fourth quarter, according to a new regulatory filing. Berkshire requested that the Securities and Exchange Commission keep the details of one or more of its stock holdings confidential. Many speculated that the secret purchase could be a bank stock as the 10Q filing for the third quarter suggested that Berkshire had purchased "banks, insurance, and finance" stocks for $1.2 billion. Apple, Chevron The Omaha-based conglomerate sold about 10 million Apple shares last quarter, the filing showed. HP, Paramount Berkshire significantly reduced its stake in Paramount , holding about 63.3 million shares at the end of December, or 32% fewer shares than the number in the previous quarter.

Persons: Warren, Berkshire Hathaway, Buffett's, Buffett, homebuilder D.R.Horton, Ted Weschler, Todd Combs Organizations: Berkshire, Securities and Exchange Commission, Chevron, Verizon, Apple, HP, Paramount, Paramount Global, Liberty, Occidental Petroleum Locations: Berkshire, Chevron The Omaha, Paramount Berkshire, New York, Houston

☆ 45 American families are worth more than $10 billion — and the wealthiest one is even richer than Elon Musk
▼ + stars: | 2024-02-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Forbes found that there are 45 American families with fortunes exceeding $10 billion. The Walmart founder Sam Walton's heirs are richer than Elon Musk, with a $267 billion fortune. AdvertisementThere are 45 American families worth at least $10 billion, and the richest one is wealthier than Elon Musk, Forbes says. Forbes estimates the 45 superrich families are collectively worth about $1.3 trillion, or roughly 10 times Warren Buffett's personal fortune. The descendants of John D. Rockefeller — the nation's richest man in his prime — barely made Forbes' list, with a $10.3 billion fortune.

Persons: Forbes, Sam Walton's, Elon Musk, Koch, Lauder, Pritzker, Rockefeller, —, Warren, Hearst, John D, MacMillan, Campbell, Brown, Forman, Jack Daniel's, Busch, Haslam, Warren Buffett's Berkshire Hathaway, it's Organizations: Walmart, Elon, Service, Forbes, SpaceX, Marriott, Carnegie, Vanderbilt, Getty, Cargill, Hyatt Hotels, Anheuser, Busch, InBev, Centers, Warren Locations: Marriott, Hearst

☆ Berkshire Hathaway topped $600,000 a share last week, aiming at $1 trillion market value
▼ + stars: | 2024-02-11 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

The swift rally has pushed Berkshire's market cap above $863 billion as of Friday's close, making it the seventh most valuable company in the U.S. Road to 600k It took Berkshire Class A shares about two years to go from $500,000 to $600,000. In terms of market cap weighting and earnings contribution to the S & P 500, Berkshire is now the best candidate to join the crowd, Strategas said. High price tag Berkshire's original Class A shares carry one of the highest price tags on Wall Street . Berkshire's Class B shares have gained more than 11% this year and also hit an intraday record of $399.15 earlier this week.

Persons: Warren Buffett's Berkshire Hathaway, Tesla, Tesla —, Eli Lilly, Strategas, Buffett, Ben Graham Organizations: U.S, BNSF Railway, Geico Insurance, U.S ., PetroChina, Alleghany, Occidental Petroleum, Microsoft, Apple, Nvidia, Tesla, Strategas Securities, Broadcom Locations: Warren Buffett's, U.S, Omaha, Berkshire, Saudi Aramco

☆ Three stocks stocks that could replace Tesla in the Magnificent 7
▼ + stars: | 2024-02-07 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Now some on Wall Street believe Tesla no longer deserves to be among the coveted " Magnificent 7 ," and are suggesting alternatives that could replace Elon Musk's company. "The Magnificent 7 now looks more like the Magnificent 6 as Tesla falls from the crowd," billionaire investor Leon Cooperman , CEO of the Omega Family Office, said on CNBC's " Squawk Box " Tuesday. Meanwhile, there are now 29 companies that contributed more to S & P 500 earnings than Tesla, according to Strategas Securities. The research firm identified three companies with both market cap weighting and earnings contributions (for the next 12 months) larger than Tesla — Berkshire Hathaway , Broadcom and Eli Lilly . "Berkshire spent last year fliting with the top seven, but Broadcom and Lilly have steadily gained share," Strategas said in a note.

Persons: Tesla, Elon, Leon Cooperman, Berkshire, Eli Lilly, Lilly, Strategas, Warren, Eli Lilly's, — CNBC's Michael Bloom Organizations: Elon Musk's, Omega, Strategas Securities, Berkshire Hathaway, Broadcom, Berkshire, JPMorgan Locations: Warren Buffett's Berkshire

It's a story increasingly familiar in the energy industry: Some utility companies don't properly assess the risks wildfires pose to their operations. The primary purpose is to prevent power lines from igniting a wildfire during periods of high fire danger. The lawsuit also alleges the company "inexcusably kept their power lines energized during the forecasted high-fire danger conditions." A PG&E utility worker locates a gas main line in the rubble of a home burned down by wildfire in Paradise, California, Nov. 13, 2018. Several of those agencies track statewide wildfire information, but most did not keep track of the names of utility companies associated with wildfire incidents.

Persons: Michelle Glogovac, Glogovac, Laurie Allen, Brent Jones, Allen, Jones, inexcusably, Michael Wara, Shelee Kimura, Yuki Iwamura, David Pomerantz, Pomerantz, Patti Poppe, It's, JOSH EDELSON, Warren Buffett's, Stanford's, CNBC's Brian Sullivan, David Paul Morris, Institute's Pomerantz, Tama Organizations: CNBC, Electric, Energy, Stanford University, Hawaiian Electric, AFP, Getty, Policy, Policy Institute, NV Energy, Warren Buffett's Berkshire Hathaway Energy, Bloomberg, Getty Images Locations: Paradise , California, Lahaina , Hawaii, Hawaii, Maui, Maui County, Lahaina, California, Nevada, Warren, — Arizona, California , Colorado, Hawaii , Montana , Nevada , New Mexico , Oregon , Utah, Washington, Arizona , New Mexico, Utah

☆ Jeff Bezos is just $8 billion away from overtaking Elon Musk to become the world's wealthiest person once more
▼ + stars: | 2024-02-05 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Jeff Bezos is not far off overtaking Elon Musk to become the world's richest person once more. AdvertisementJeff Bezos is only about $8 billion away from overtaking Elon Musk as the world's wealthiest person following a surge in Amazon stock — and a slump for Tesla — this year. Meanwhile, Musk holds about 411 million Tesla shares, or a roughly 13% stake in the automaker, worth about $76 billion. It's certainly striking that Musk's net worth has crashed from about $340 billion at its peak in late 2021 to about $200 billion today. However, Tesla stock is still up more than six-fold since the start of 2020, while Amazon shares have less than doubled.

Persons: Jeff Bezos, Elon Musk, Mark Zuckerberg, Warren Buffett, —, Tesla, Bezos, Musk, Mark Zuckerberg's, Buffett, Larry Ellison, Larry Page, Sergey Brin, Brin Organizations: Elon, Bloomberg, Service, Tesla, Amazon, SpaceX, Twitter, Big Tech, Meta, Berkshire Hathaway Locations: Delaware, Berkshire

☆ Why Meta's shiny new dividend and whopping $50 billion buyback plan may divide investors
▼ + stars: | 2024-02-02 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Mark Zuckerberg's Meta declared its first dividend and another $50 billion in approved buybacks. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMeta announced its first dividend and another $50 billion of authorized stock buybacks in its fourth-quarter earnings on Thursday. The social-media giant is clearly eager to reward its shareholders, but its latest moves could divide investors. Meta's new dividend and large-scale buybacks are intended to show it values its shareholders and wants to reward them.

Persons: Mark Zuckerberg's Meta, Warren Buffett, —, Susan Li, Nigel Green, Tesla, Instagram, Warren Buffett's Berkshire Hathaway doesn't, allocator, Buffett, Zuckerberg, Apple's buybacks, Kraft Heinz Organizations: Service, Meta, Reality Labs, Facebook, Warren, buybacks, Chevron, Kraft

☆ Warren Buffett's Berkshire Hathaway is an epic turnaround story — and its latest deal looks a winner, expert says
▼ + stars: | 2024-02-01 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Warren Buffett's Berkshire Hathaway is the result of an incredible turnaround, Jacob McDonough said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe rise of Warren Buffett's Berkshire Hathaway is a remarkable turnaround story, a chronicler of the company's early days said. He was referring to Diversified Retailing, Blue Chip Stamps, and Berkshire, which was a textile company when Buffett acquired it in 1965. They shuttered Berkshire's floundering textile business in 1985.

Persons: Warren, Berkshire Hathaway, Jacob McDonough, —, Warren Buffett's Berkshire Hathaway, Chip Stamps, Buffett, Charlie Munger, Munger, McDonough, Kraft Heinz, Bryan Metzger, Pilot McDonough, Berkshire's Organizations: Berkshire, Service, England Textile, Chip, Apple, Travel Centers, Nike, Coke, Netflix, McDonough Investments Locations: Warren, Berkshire, England, Windsor Heights , Iowa

☆ Warren Buffett's Berkshire Hathaway keeps buying Liberty's SiriusXM tracking shares. Here's why
▼ + stars: | 2024-01-28 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

Berkshire Hathaway continued to buy Liberty Media's tracking stock for New York-based satellite radio company SiriusXM in a likely merger arbitrage play. Billionaire John Malone's media conglomerate currently owns 84% of Sirius XM and has two tracking stocks that represent that stake in the streaming satellite music service — Liberty Media Corp. Series A shares, or LSXMA , and Liberty Media Corp. Series C shares, or LSXMK . Under the terms of the deal, expected to close early in the third quarter, each Liberty Media Sirius tracking share will be exchanged for 8.4 "new" SIRI shares, while "old" SIRI shareholders would receive new shares in a one-for-one exchange. Berkshire loading up In the past week, Warren Buffett's conglomerate added 438,945 shares of LSXMA and 1 million shares of LSXMK for nearly $45 million combined, according to regulatory filings . Berkshire first bought LSXMK in 2016 and now owns almost 22% of the tracking stock, according to FactSet.

Persons: Berkshire Hathaway, John, SIRI, Warren, Buffett, Ted Weschler, Todd Combs, Seth Klarman's Baupost, SIRI overvalued, Wells, Steven Cahall, Cahall, Jason Bazinet, Charlie Munger, Charlie, hasn't Organizations: Berkshire, Liberty, Sirius XM, — Liberty Media Corp, Liberty Media Corp, Nasdaq, Liberty Media, Liberty Media Sirius, Sirius XM Holdings, Sirius, Citigroup, Activision Blizzard, British Columbia Power, Monsanto, Bayer AG, IBM Locations: New York, Berkshire, LSXMA, LSXMK, Omaha

☆ Buffett's Berkshire Hathaway could be headed for its next major breakout, according to the charts
▼ + stars: | 2024-01-18 | by ( Frank Cappelleri | ) www.cnbc.com time to read: +3 min

The last few breakout attempts in late 2023 failed to attract enough interested buyers to push beyond the $360-$370 zone. Relative strength BRK.B also has displayed strong periods of relative strength vs. the financial sector. ('XLF' is the Financial Select SPDR tracking the financial sector in the S & P 500.) In other words, the stock can give investors exposure to the financial sector without having to endure the same risk to rising rates as banks. BRK.B last pushed to a new high vs. the S & P 500 in late 2018, but that breakout didn't hold.

Persons: Berkshire Hathaway, BRK.B, That's, Frank Cappelleri Locations: Berkshire

☆ 10 years in, GM CEO Mary Barra has built her legacy on change and crisis. 2024 will be no different
▼ + stars: | 2024-01-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +12 min

In this article GM Follow your favorite stocks CREATE FREE ACCOUNTMary Barra, CEO of General Motors, at the New York Stock Exchange, Nov. 17, 2022. GM's EV sales last year totaled 75,883 units, or 2.9% of the company's overall sales. However, a vast majority of GM's EV sales were from its now-discontinued Chevrolet Bolt models. Mary Barra, GM chair and CEO, speaks during the unveiling of the Cadillac Celestiq electric sedan in Los Angeles, Oct. 17, 2022. General Motors CEO Mary Barra testifies during a House Energy and Commerce Committee hearing on Capitol Hill in Washington, April 1, 2014.

Persons: Mary Barra, Mary Barra's, Barra, She's, Tesla, Michelle Krebs, Warren Buffett's Berkshire, EVs hasn't, Frederic J, Brown, there's, Cruise, Cruise's, Jeff Kowalsky, Darryll Harrison Jr, Mary, Barra's, Dan Akerson, Dan Ammann, Mark Reuss, Steve Fecht, Stephanie Brinley, they've, Lyft, David Einhorn's, Einhorn Organizations: General Motors, New York Stock Exchange, NYSE DETROIT, Detroit, GM, Wall, U.S, EV, Cox Automotive, Warren Buffett's Berkshire Hathaway, —, Hyundai, Kia, Bolt, EVs, Cadillac, AFP, Getty, Honda Motor, Automotive Press Association, Bloomberg, Cruise, CNBC, GM Renaissance Center Global Headquarters, P Global Mobility, Apple, Google, Energy, Commerce, Capitol Locations: Los Angeles, North America, Barra, San Francisco, Detroit, Washington

☆ Tesla now has a clear China EV competitor. What’s next for BYD?
▼ + stars: | 2024-01-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Bernstein didn't even initiate coverage of BYD until September, with an outperform rating and price target of 359 Hong Kong dollars. BYD trades in Hong Kong, and on the Shenzhen exchange in mainland China. "I'm a long observer and investor in Tesla," Ogan said. "What I think will tip BYD like the volumes tipped Tesla is when people start realizing BYD is an energy company," Ogan said. Nomura's China autos and auto parts analyst Joel Ying likes BYD with an even higher price target of 382 Hong Kong dollars.

Persons: BYD, Bernstein didn't, Warren Buffett's Berkshire Hathaway, Taylor Ogan, Ogan, Tesla, Xiao Feng, CLSA, Joel Ying, Ying, Xiaomi's SU7, That's, — CNBC's Michael Bloom Organizations: Hong, Snow Bull, Nasdaq, Elon Musk's, HK, Hesai Tech Locations: Hong Kong, Norway, Brazil, China, Shenzhen, Asia, Europe, North America, U.S, Inovance, Ningbo Tuopu

☆ Occidental Petroleum to buy Permian producer CrownRock for $12 billion, raise dividend
▼ + stars: | 2023-12-11 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

Occidental will issue $9.1 billion in debt and about $1.7 billion in common stock to finance the transaction. Occidental Petroleum on Monday agreed to buy CrownRock , a major privately held energy producer that operates in the Permian Basin, for $12 billion. Occidental CEO Vicki Hollub said the company is purchasing CrownRock to increase its scale in the Midland Basin. Occidental is the ninth-largest energy company in the U.S. with a market capitalization of $49.7 billion. Occidental's purchase of CrownRock is the third major deal in the energy sector in less than two months.

Persons: Vicki Hollub, Hollub, CNBC's, CrownRock, Timothy Dunn, Warren Buffett's, Warren Buffett's Berkshire Hathaway, Berkshire Hathaway, Buffett, Carl Icahn, Enverus, Weeks, Hess Organizations: Midland Basin, U.S . Energy Information Administration, U.S, Occidental Petroleum, Occidental, Endeavor Resources, Houston, Lime Rock Partners, Warren Buffett's Berkshire, Anadarko Petroleum, Exxon Mobil, Natural Resources, Chevron, Pioneer, Texas Intermediate, CNBC, Energy Information Administration Locations: Occidental, Midland, Texas, U.S, Warren, Berkshire, CrownRock

Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. Berkshire owns 80% of Pilot, having paid the Haslams $2.76 billion for a 38.6% stake in 2017 and $8.2 billion for another 41.4% in January. The Haslams sued Omaha, Nebraska-based Berkshire in October, accusing it of seeking a "windfall" by adopting "pushdown" accounting for Pilot. Berkshire countersued on Nov. 28, saying Jimmy Haslam tried to bribe Pilot executives with millions of dollars to inflate earnings in 2023 at the expense of future years. According to court papers, the Haslams believe the 20% Pilot stake was worth $3.2 billion before Berkshire's accounting change, an amount Berkshire disputes.

Persons: Warren Buffett, Scott Morgan, Warren Buffett's Berkshire Hathaway, Jimmy Haslam, Chancellor Morgan Zurn, Haslam, Zurn, Berkshire, Berkshire countersued, Tom Hals, David Holmes Organizations: Berkshire Hathaway, REUTERS, Rights, Travel Centers, Cleveland Browns, Berkshire, Pilot, Thomson Locations: Omaha , Nebraska, U.S, Rights WILMINGTON , Delaware, Delaware, Delaware's, Berkshire, Knoxville , Tennessee, Wilmington , Delaware

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

☆ The investing world reacts to death of Berkshire legend Charlie Munger
▼ + stars: | 2023-11-28 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Several investors mourned the passing of famed investor Charlie Munger, vice chairman of Warren Buffett's Berkshire Hathaway , on Tuesday. "So sad to hear the news of the passing of Charlie Munger," El-Erian wrote. Mario Gabelli, chairman and CEO of Connecticut-based GAMCO Investors, wrote on Twitter: "Charlie Munger ….a titan has passed …all will miss Charlie." "Charlie Munger helped build an American institution, and through his wisdom and insights, inspired a generation of leaders. "Charlie Munger was a brilliant attorney," Annandale Capital chairman George Seay said Tuesday evening on Yahoo Finance.

Persons: Charlie Munger, Warren Buffett's Berkshire Hathaway, Berkshire Hathaway, Buffett, Munger, Ariel Investments, Charles Bobrinskoy, Mohamed El, PIMCO, Erian, Mario Gabelli, Charlie Munger …, Charlie, Tim Cook, Cook, Stephanie Link, Hightower, Whitney Tilson, Tilson, George Seay, Wesley Chan, Chan, —, Christina Cheddar Berk, Brian Evans, Alex Harring Organizations: Warren, Allianz, Twitter, Apple, Berkshire, Hightower Advisors, Berkshire Hathaway, CNBC, Yahoo Finance, Daily, Costco Locations: Munger, Connecticut, Berkshire, American, California, Annandale, FPV

☆ Charlie Munger, investing genius and Warren Buffett's right-hand man, dies at age 99
▼ + stars: | 2023-11-28 | by ( Marty Steinberg | ) www.cnbc.com time to read: +8 min

In this article BRK.A Follow your favorite stocks CREATE FREE ACCOUNTwatch nowBillionaire Charlie Munger, the investing sage who made a fortune even before he became Warren Buffett's right-hand man at Berkshire Hathaway, has died at age 99. In addition to being Berkshire vice chairman, Munger was a real estate attorney, chairman and publisher of the Daily Journal Corp., a member of the Costco board, a philanthropist and an architect. We've gotten good at fishing where the fish are," the then-93-year-old Munger told the thousands of people at Berkshire's 2017 meeting. Warren Buffett (L), CEO of Berkshire Hathaway, and vice chairman Charlie Munger attend the 2019 annual shareholders meeting in Omaha, Nebraska, May 3, 2019. "Well, I would say basically we're like the captain of a ship when the worst typhoon that's ever happened comes," Munger told The Wall Street Journal in April 2020.

Persons: Charlie Munger, Warren Buffett's, Munger, Berkshire Hathaway, Buffett, Greg Abel, Benjamin Franklin, We've, Charles Thomas Munger, Alfred, Florence, Toody, didn't, Janet Lowe's, Nancy Huggins, Olson, Wheeler, Dean Scott Derue, Franklin Otis Booth, Booth, Derue, CNBC's Becky Quick, Charlie, He's, I've, Warren Buffett, Johannes Eisele, Goldman Sachs, We're, Oh goody, goody, everything's Organizations: Berkshire Hathaway, Berkshire, New, Daily Journal Corp, Costco, Buffett's Berkshire, CNBC, University of Michigan, Army Air Corps, California Institute of Technology, Scripps College, Harvard Law School, Tolles, Munger & Co, Michigan Ross Business School, Los Angeles Times, Buffett, Omaha, AFP, Getty, Bank of America, Wall Street Journal Locations: California, Munger, Pasadena , California, Berkshire, Omaha , Nebraska, Omaha, Warren, Pasadena

☆ Buffett's Berkshire Hathaway exits India's Paytm in $165 million deal
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Rupak De Chowdhuri/File Photo Acquire Licensing RightsBENGALURU, Nov 24 (Reuters) - Billionaire Warren Buffett's Berkshire Hathaway (BRKa.N) has exited India's Paytm (PAYT.NS) after selling its entire stake in the company for about 13.71 billion rupees ($164.70 million) through a bulk deal on Friday. Berkshire Hathaway's BH International Holdings has sold more than 15.6 million shares of the digital payments firm, with a weighted average price of 877.29 rupees per share, exchange data showed. Who the buyers of the Paytm shares are is not known. Paytm did not immediately respond to a Reuters request for additional details, while Berkshire was not available for comment. As of September 2023, BH International Holdings had a 2.46% stake in the company, as per exchange data.

Persons: Warren Buffett's Berkshire Hathaway, Paytm, Vijay Shekhar Sharma, Hritam Mukherjee, Sonia Cheema, Pooja Desai Organizations: REUTERS, Rights, ., Holdings, BH International Holdings, SoftBank, HK, Ant, Thomson Locations: Kolkata, India, . Berkshire, Berkshire, Bengaluru

☆ Warren Buffett's company has built a record $157 billion cash pile so he can capitalize when the economy tanks, veteran professor Steve Hanke says
▼ + stars: | 2023-11-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett's Berkshire Hathaway has built a record $157 billion pile of cash and Treasuries. Buffett is gearing up to snag bargains and strike deals once the economy weakens, Steve Hanke says. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "This is classic Buffett," Hanke, a professor of applied economics at Johns Hopkins University, told Markets Insider in a recent interview. The Berkshire boss will profitably put his dry powder to work once the economy slumps, Hanke said.

Persons: Warren, Berkshire Hathaway, Buffett, Steve Hanke, Hanke, —, Warren Buffett, they've, who's, Ronald Reagan, Goldman Sachs, Berkshire's, Lee Munson Organizations: Service, Johns Hopkins University, Fed, Toronto Trust, Electric, Dow Chemical, Swiss, Berkshire Locations: American, Toronto Trust Argentina, Berkshire

☆ Warren Buffett is piling up cash because he sees a storm brewing and can't find bargains, wealth manager says
▼ + stars: | 2023-11-17 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett's Berkshire Hathaway held a record $157 billion of liquid assets at the last count. Berkshire is betting on growth and value with Apple and Bank of America, the wealth manager says. AdvertisementWarren Buffett's stack of cash is bigger than ever because he spies problems on the horizon and he's struggling to find bargains, one wealth manager says. Buffett's Berkshire Hathaway held a record $157 billion in liquid assets like dollars and Treasury bills on September 30. AdvertisementMunson said that Berkshire is essentially pursuing a barbell strategy of owning both growth and value stocks.

Persons: Warren, Berkshire Hathaway, Lee Munson, —, Buffett, He's, Kraft Heinz, he's, Munson Organizations: Berkshire, Apple, Bank of America, Service, Wealth, Yahoo Finance, Chevron, Big Tech Locations: Berkshire, Japan

TOKYO, Nov 17 (Reuters) - Warren Buffett's vote of confidence in Japanese trading houses is helping Mitsubishi Corp (8058.T) overcome long-held investor wariness about its complex global business that covers everything from sausages to natural gas, a top executive said. "Until fairly recently, being an industrial conglomerate had negative connotations," Kobayashi said in an interview. Appointed as the trading house's first chief stakeholder engagement officer in April, Kobayashi is now focused on wooing investors who focus on growth, not just value. Berkshire first announced roughly 5% stakes in August 2020, with Buffett saying the trading houses "have many joint ventures throughout the world and are likely to have more". read moreStill, Mitsubishi is trading at a price-to-book ratio of just a little over 1, or at almost no premium to the value of its assets.

Persons: Warren Buffett's, wariness, Berkshire Hathaway, Kenji Kobayashi, Kobayashi, Itochu, outperforming, Buffett, Benjamin Graham, that's, Anton Bridge, Miho Uranaka, David Dolan, Miral Organizations: Mitsubishi Corp, Berkshire, Reuters, Mitsubishi, Mitsui, Sumitomo, Tokyo Stock Exchange, Nikkei, Columbia University, Thomson Locations: TOKYO, Berkshire, Japan

Target's bright outlook lifted shares of other retailers including Macy's (M.N), which rose 7.5%, and Kohl's (KSS.N), which closed up almost 9%. The S&P 500 consumer staples index (.SPLRCS), which includes Target, was the top sector gainer, adding 0.7%. "Those two data points reaffirmed the message from Tuesday that the Fed seems to be navigating the soft landing quite well," said Ronald Temple, chief market strategist at Lazard. Among individual stocks, retailer TJX's (TJX.N) shares fell 3.3% after it forecast current-quarter profit below Wall Street expectations, signaling spiraling costs weighing on margins. The S&P 500 posted 42 new 52-week highs and no new lows; the Nasdaq Composite recorded 106 new highs and 89 new lows.

Persons: ValueAct, Stocks, Ronald Temple, Wall, Temple, Brendan McDermid, Walt Disney, Russell, Joe Biden, Xi Jinping, Biden, Warren Buffett's Berkshire Hathaway, decliners, Sinéad Carew, Sruthi Shankar, Amruta, Shinjini Ganguli, Maju Samuel, Pooja Desai, Richard Chang Organizations: Dow, Nasdaq, Federal, Target, Reuters, Lazard, Dow Jones, New York Stock Exchange, REUTERS, Walt, ValueAct Capital, Money, U.S . House, Senate, Republican, TJX's, Sirius XM, NYSE, Thomson Locations: New York City, U.S, New York, Bengaluru

[1/3] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. The bright outlook lifted shares of other retailers including Macy's (M.N) and Kohl's (KSS.N), while the S&P 500 consumer staples index (.SPLRCS), which includes Target, was among the top sector gainers. "Those two data points reaffirmed the message from Tuesday that the Fed seems to be navigating the soft landing quite well," said Ronald Temple, chief market strategist at Lazard. The benchmark S&P 500 (.SPX) and the tech-heavy Nasdaq (.IXIC) had posted their biggest daily percentage gains in more than six months on Tuesday, after the consumer prices data. The S&P 500 posted 42 new 52-week highs and no new lows; the Nasdaq Composite recorded 104 new highs and 69 new lows.

Persons: Brendan McDermid, ValueAct, Stocks, Ronald Temple, Temple, Joe Biden, Xi Jinping, Biden, Walt Disney, Warren Buffett's Berkshire Hathaway, decliners, Sinéad Carew, Sruthi Shankar, Amruta, Shinjini Ganguli, Maju Samuel, Pooja Desai, Richard Chang Organizations: New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, Federal, Reuters, Lazard, Dow Jones, U.S . House, Senate, Republican, ValueAct Capital, Sirius XM, NYSE, Thomson Locations: New York City, U.S, New York, Bengaluru

☆ CNBC Daily Open: Markets spiked on October’s flat CPI
▼ + stars: | 2023-11-15 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Boost from CPIU.S. stocks jumped Tuesday on the cooler-than-expected CPI report, with major indexes notching their best day since April. [PRO] Secret stock holdings at BerkshireWarren Buffett's Berkshire Hathaway dumped its stake in one auto company, exited some of its smaller positions and trimmed some big names its stock holdings, according to a new regulatory filing. More intriguingly, Berkshire also asked the Securities and Exchange Commission to keep one or more of its stock holdings confidential.

Persons: Australia's, Berkshire Hathaway Organizations: CNBC, CPI, CPI U.S, Berkshire Warren, Securities and Exchange Commission Locations: Los Angeles , California, U.S, Asia, Pacific, China, Japan, Berkshire, intriguingly

[1/3] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. Target (TGT.N) advanced 17.6% as the big-box retailer forecast fourth-quarter profit largely above Wall Street expectations on easing supply-chain costs. The bright outlook also lifted shares of other retailers, while the S&P 500 consumer staples index (.SPLRCS), which houses Target, jumped 0.7%. U.S. producer prices eased more than expected amid a sharp drop in gasoline costs, providing further evidence that inflation was trending lower. Advancing issues outnumbered decliners by a 2.05-to-1 ratio on the NYSE and by a 2.13-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Chris Zaccarelli, Joe Biden, Xi Jinping, Biden, JD.com, Warren Buffett's Berkshire Hathaway, Sruthi Shankar, Amruta, Shinjini Ganguli, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, Federal Reserve, Target, Reuters, U.S, Independent, Alliance, Dow Jones, U.S . House, Senate, Republican, Disney, ValueAct, Sirius XM, NYSE, Thomson Locations: New York City, U.S, Bengaluru

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