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Anne Hathaway was almost crashed into by New York Knicks player OG Anunoby at Wednesday's NBA matchup at Madison Square Garden, but rather than being near-death experience for the movie star, she called it a "bucket-list moment." The Oscar-winning actor and her son Jack were attending the New York Knicks vs. Chicago Bulls game when the British player charged in their direction while chasing the ball, colliding with a courtside barrier right next to the pair. To Hathaway's credit, she barely flinched, and was even photographed with an outstretched hand, seemingly attempting to catch the ball herself. Even though some snacks were spilled and her son's jaw dropped in shock, she ended her video smiling and thanking Anunoby. The Knick's lost out by a point, with the final score of the night being 124-123 for the Bulls.
Persons: Anne Hathaway, Jack, Anunoby Organizations: New York Knicks, Wednesday's NBA, Madison, Chicago Bulls, Bulls Locations: British
Two crypto moguls' joint wealth rose by about $15 billion on the back of Trump's election victory. Binance's Chaopeng Zhao and Coinbase CEO Brian Armstrong added about $12 billion and $2.6 billion each. AdvertisementTwo cryptocurrency tycoons saw a near-$15 billion boost to their combined wealth on Wednesday as Donald Trump won the presidential election. One result was the world's 12 richest people grew more than $70 billion richer in a single day, per Bloomberg's wealth rankings. Exclude him and his 11 peers have grown a combined $505 billion richer this year — a figure that exceeds the market value of Oracle ($502 billion).
Persons: Binance's Chaopeng Zhao, Brian Armstrong, , Donald Trump, Changpeng Zhao, Zhao, Elon, Binance, Elon Musk, Anthony Harvey, Kamala Harris, Musk, Larry Ellison, Berkshire Hathaway's Warren Buffett, Jeff Bezos, Bernard Arnault Organizations: Service, Bloomberg, Trump, Ethereum, Republican, Democratic, Oracle Locations: Solana, Berkshire
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCFRA: Lower demand for Berkshire Hathaway's products highlights economic slowdownCathy Seifert, Vice President of CFRA Research, discusses about Berkshire Hathaway’s Q3 results, its recent stock selling-spree, and what all that says about the broader US market and economy.
Persons: Cathy Seifert Organizations: Berkshire, CFRA Research, Berkshire Hathaway’s
CNBC Daily Open: One day more to elections
  + stars: | 2024-11-04 | by ( Lim Hui Jie | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Markets shrug off weak jobs reportStocks rallied Friday to kick off November, led by Amazon and as traders shrugged off a disappointing jobs report. Harris gains ground in IowaIowa is not a state that many pollsters predicted will break for Democratic presidential candidate Kamala Harris. That, instead of the sitting president, could hold the key to how stocks perform going forward.
Persons: Blythe Andrews , Jr, Dow Jones, Stocks, shrugged, Warren Buffett, Harris, Kamala Harris, Donald Trump Organizations: Public, CNBC, U.S . Bureau of Labor Statistics, Boeing, Amazon, Dow Jones Industrial, Nasdaq, Berkshire, Bank of America, Democratic, Des Moines Register, Iowa Locations: Tampa , Florida, U.S, Berkshire, Omaha, Apple, Iowa Iowa, Iowa
Warren Buffett signaled in Berkshire Hathaway's third-quarter earnings that he was being cautious. The investor built a record cash pile, slashed his two biggest stock bets, and halted buybacks. The legendary investor and his team sold $36 billion of shares and only made purchases worth $1.5 billion, marking their eighth straight quarter as net sellers. Related storiesNotably, Berkshire pared its bets on Apple and Bank of America, its two largest stock positions going into the quarter. Buffett has said that buybacks only make financial sense when a stock is trading at a discount to its intrinsic value.
Persons: Warren Buffett, , Donald Trump, Kamala Harris, he's, Trump, aren't, Bershire, Buffett, Russ Mould, AJ, Mould Organizations: Berkshire Hathaway's, Service, Treasury, Apple, Bank of America Locations: Berkshire, payables
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow high-net worth investors are viewing moves by Berkshire Hathaway to increase its cash pileBarbara Goodstein, managing partner at R360, an investment community for ultra-high net worth individuals, discusses Berkshire Hathaway's Q3 results, and moves by the company to further trim its holdings in Apple and Bank of America.
Persons: Berkshire Hathaway, Barbara Goodstein Organizations: Berkshire, Apple, Bank of America
Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, on May 3, 2024. Berkshire Hathaway 's monstrous cash pile topped $300 billion in the third quarter as Warren Buffett continued his stock-selling spree and held back from repurchasing shares. Meanwhile, since mid-July, Berkshire has reaped more than $10 billion from offloading its longtime Bank of America investment. Overall, the 94-year-old investor continued to be in a selling mood as Berkshire shed $36.1 billion worth of stock in the third quarter. The company states that it will buy back stock when Chairman Buffett "believes that the repurchase price is below Berkshire's intrinsic value, conservatively determined."
Persons: Warren Buffett, Berkshire Hathaway, Buffett Organizations: Berkshire, Oracle, Apple, Bank of America Locations: Omaha , Nebraska, Omaha, Berkshire
Warren Buffett hasn't endorsed Kamala Harris in her presidential race against Donald Trump. Buffett has said he doesn't want to risk hurting his workers and shareholders by voicing his views. AdvertisementWarren Buffett has not endorsed Kamala Harris or Donald Trump, and made it clear this week he will not publicly back either presidential candidate. He didn't endorse Joe Biden either, although Biden reportedly told a group of Wall Street executives in October 2020 that he "just got off the phone with Warren Buffett." It's also possible Buffett has spoken to Harris behind the scenes.
Persons: Warren Buffett hasn't, Kamala Harris, Donald Trump, Berkshire Hathaway, Hillary Clinton, Buffett, , Warren Buffett, Mr, Berkshire CEO's, Barack Obama, he's, he'd, shouldn't, Harris, Joe Biden, Biden, It's, Harris — Organizations: Berkshire, Obama, Service, Berkshire Hathaway's, Democratic, Wall Street Locations: Berkshire, Omaha
Berkshire Hathaway cut its Apple stake by 55% in the first half of 2024, potentially missing out on $23B in profits. Apple shares have jumped 10% since the second quarter, driven by optimism about Apple Intelligence. Berkshire Hathaway entered 2024 with a massive stake in Apple, holding 905.6 million shares worth about $174 billion at the time. Instead, Berkshire Hathaway's current stake in Apple was worth $84 billion at the end of the second quarter. AdvertisementThe difference between the weighted average price and the price of Apple stock on Thursday nets out the $23.1 billion in missed profits for Berkshire Hathaway.
Persons: Berkshire Hathaway, , Warren, That's, It's, Buffett Organizations: Berkshire, Apple, Apple Intelligence, Service, Business, company's Apple Intelligence Locations: Apple, Berkshire, HedgeFollow
Warren Buffett is the billionaire boss of one of America's biggest companies. Yet Berkshire Hathaway's website looks like it was built in the 1990s and hasn't been updated since. Yet you could never guess that from its website, which looks like a relic from the early days of the internet. Business InsiderFrankly, the website looks like a teenager slapped it together in the 1990s, and hasn't returned since. "Warren Buffett is demonstrating how he minimizes cost at Berkshire.
Persons: Warren Buffett, hasn't, , Buffett, Lawrence Cunningham, who's, Johannes Eisele, Chris Bloomstran, Semper Augustus, Bloomstran, Warren, Darren Pollock, Pollock, it's, David Kass, University of Maryland who's Organizations: Berkshire Hathaway's, Service, Berkshire Hathaway, Activision Blizzard, University of Delaware's, Corporate, Getty, Berkshire, BNSF Railway, Omaha HQ, Semper Augustus Investments, Cheviot Value Management, University of Maryland Locations: Berkshire, frugality, Omaha, McDonald's, Omaha , Nebraska, AFP, Nebraska
Berkshire Hathaway's Bank of America stake has finally been cut to below the key 10% threshold, keeping Warren Buffett's next potential moves under wraps for a few months. The first 700 million shares had a low cost basis of only about $7 per share, while the average cost of the next 300 million shares was in the $30s, Goldberg estimated. "When we sell something, very often it's going to be our entire stake," Buffett said in 2020 when he entirely dumped his holdings in airlines. Still, Buffett sounded negative towards banking following 2023's regional bank crisis that took down Silicon Valley Bank, Signature Bank and First Republic Bank. It's gotten changed by [the regional bank crisis].
Persons: Warren Buffett's, Brian Moynihan, Jason Goldberg, Buffett, Goldberg, It's, That's, digitalization, fintech, Goldman Sachs, Wells Organizations: Berkshire Hathaway's Bank of America, Bank of America, Barclays, Federal, Bank, Signature Bank, First Republic Bank, JPMorgan, U.S . Bancorp Locations: Berkshire, Charlotte, Wells Fargo, U.S
Nubank leads Berkshire portfolio
  + stars: | 2024-10-11 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNubank leads Berkshire portfolioCNBC’s Kate Rooney joins 'Power Lunch' to discuss Latam Nubank, as it becomes Buffett's Berkshire Hathaway's best performer.
Persons: Kate Rooney, Latam, Berkshire Hathaway's Organizations: Berkshire Locations: Berkshire
Anne Hathaway apologized to journalist Kjersti Flaa for being difficult in a 2012 interview. AdvertisementAnne Hathaway just gave a masterclass in swerving public backlash — and Blake Lively should take notes, according to PR experts. PR experts told BI that Hathaway's swift response will minimize potential backlash and strengthen her reputation as a relatable and genuine celebrity. Advertisement"A lot of people wouldn't give me roles because they were so concerned about how toxic my identity had become online," Hathaway told Vanity Fair back in March. Blake Lively could learn from Hathaway, experts sayHathaway's response to Flaa was a complete contrast to Blake Lively, who remained silent after her 2016 interview with the same journalist went viral in August.
Persons: Anne Hathaway, Kjersti Flaa, Flaa, Blake Lively, Lively, , Lively —, Hathaway, Jake Holyoak, Anne, Cindy Ord, Yely, Kopan, Les Misérables, Dave M, Charly Triballeau, It's, Holyoad, Blake, Hathaway's, Zoe Mumba, Mumba, Colleen Hoover's Organizations: Service, Input Communications, Playbill, Forbes, Getty, Hollywood Reporter Locations: Flaa, AFP
Warren Buffett has sold 23% of his Bank of America stake for about $10 billion since mid-July. AdvertisementWarren Buffett has followed up the surprise paring of his Apple stake by taking a knife to another of his largest holdings: Bank of America. Berkshire has slashed its stake from 1.03 billion shares to 794 million shares, reducing its ownership from 13.2% to 10.2%. Related storiesBuffett might also be rebalancing Berkshire's $300 billion stock portfolio in line with his smaller Apple bet. True to his bargain-hunter reputation, Buffett topped up his Bank of America stake in 2020, when the pandemic-hit stock was trading around $25.
Persons: Warren Buffett, Buffett, , Berkshire Hathaway, hasn't, he's, Goldman Sachs, There's, Brian Moynihan Organizations: Bank of America, Berkshire Hathaway's, Express, Service, Berkshire, Securities, Exchange, Apple, American Express, Oracle, of America, Bank of, JPMorgan Locations: Berkshire, , Thursday's, Omaha
Karen Goracke is the CEO of the jewelry store Borsheims, a Berkshire Hathaway subsidiary. Goracke worked her way up from the store room, and Warren Buffett interviewed her for CEO. AdvertisementThis as-told-to essay is based on a transcribed conversation with Karen Goracke, CEO and President of Borsheims, about her career and working with Warren Buffett. I started working as a sales associate for Borsheims, a jewelry store in Omaha, in 1988 straight out of college. She had no idea Warren Buffett was standing next to her.
Persons: Karen Goracke, Goracke, Warren Buffett, Buffett, , Warren Buffett's Berkshire Hathaway, Borsheims, Berkshire Hathaway, I'd, Warren Buffet, We're, I'm, Warren, It's, That's, I've Organizations: Berkshire Hathaway, Service, Borsheims, Las, Berkshire Locations: Omaha, Berkshire, Nebraska, Switzerland , New York, Las Vegas
David Tuckett, an uncertainty researcher, told BI that dismissing doubt eventually "leads over a cliff." He said the success of elite investors like Warren Buffett may be largely down to luck, not skill. AdvertisementEven the smartest minds in finance and tech don't know for sure what the future holds, and even the most successful investors may have gotten lucky, one expert says. Elon Musk responded on X that "Buffett is already preparing for this outcome," ostensibly suggesting Warren Buffett will offload stocks too if Donald Trump secures a second term. AdvertisementThat applies to even the best investors like Warren Buffett, he told BI.
Persons: it's Elon Musk, John Paulson, David Tuckett, Warren Buffett, , John Paulson —, Kamala Harris, Elon Musk, Buffett, Donald Trump, Paulson, Musk, David Tuckett Lucking, Tuckett Organizations: Service, Centre, University College London, HSBC Locations: Berkshire, Tuckett
When Warren Buffett, the ultimate buy-and-hold investor, sells a stock, it often sends a negative signal about the underlying business and maybe even the entire industry. "We're more reluctant to sell them than most people," Buffett said of his large positions at Berkshire's annual meeting in 2009. Bank of America sales Many top holdings in Berkshire Hathaway's equity portfolio are decades old — Buffett has held Coca-Cola shares since 1988 and American Express since 1991. Buffett said bank failures in 2008 during the Global Financial Crisis , and again in 2023, lessened confidence in the system, made worse by poor messaging by regulators and politicians. At the time, Buffett foresaw more bank failures down the road , but stuck with his Bank of America investment, partly because he personally negotiated the original deal and admired CEO Brian Moynihan.
Persons: Warren Buffett, Buffett, — Buffett, Goldman Sachs, Wells, BofA, digitalization, fintech, It's, Brian Moynihan Organizations: Herald, Buffalo News, Bank of America, American Express, Oracle, JPMorgan, U.S . Bancorp ., Silicon Valley Bank, First, Signature Bank Locations: Omaha, Berkshire, BofA, Wells Fargo, U.S, U.S . Bancorp . Berkshire, Bank, Silicon, First Republic, saviors
Occidental Petroleum shares have dropped 29% since mid-April, impacting Warren Buffett's stake in the company. Berkshire Hathaway's $13 billion stake in Occidental Petroleum may be underwater, based on estimates. The price decline in Occidental shares has coincided with a 23% decline in crude oil prices since mid-April. AdvertisementTo be clear, the average price Berkshire Hathaway paid for its Occidental Petroleum stake is only known by Berkshire Hathaway itself. Another sign that Berkshire Hathaway's Occidental Petroleum bet is souring is based on the warrants it owns to purchase additional shares.
Persons: Warren Buffett's, , Warren, Warren Buffett's Berkshire, Buffett, Berkshire Hathaway, Chris Bloomstran, Semper Augustus, Bloomstran, Vicki Hollub, it's, Hollub Organizations: Occidental Petroleum, Berkshire Hathaway's, Service, Warren Buffett's Berkshire Hathaway, Berkshire, Berkshire Hathaway's Occidental Petroleum, Apple, Bank of America, Occidental, Occidental Petroleum's Locations: Berkshire, Occidental
"It doesn't make any difference what the headlines are, it doesn't make any difference what the Federal Reserve is doing, it doesn't make any difference what's going on in Europe. "If we're right about the business, the macro factors aren't going to make any difference. And if we're wrong about the business, macro factors are not going to bail us out," he said. ... Everybody thinks we sit around and talk about macro factors. We don't have any discussions about macro factors."
Persons: Warren Buffett, it's, Buffett, Benjamin Graham, Lehman Organizations: Federal, Oracle, Berkshire Hathaway's, Federal Reserve, Columbia University, Cuban Missile, New York Times, Lehman Brothers Locations: Omaha, one's, Europe, Berkshire, America
Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. (This article is from the Warren Buffett Watch newsletter. Warren Buffett has added around $6 billion to Berkshire Hathaway's sizable cash pile this summer with a string of Bank of America stock sales since mid-July. Berkshire has sold Bank of America shares for six straight sessions. Since it began to reduce its holding on July 17, it has sold shares during 21 of the past 33 sessions.
Persons: Warren Buffett Organizations: Berkshire, Warren, Warren Buffett Watch, of America, Bank of America Locations: Omaha , Nebraska, Berkshire
Warren Buffett's Berkshire Hathaway recently debuted a new stake in beauty retailer Ulta Beauty , a deep value bet that validated a belief that the stock was significantly oversold. The Omaha-based conglomerate unveiled a $266 million bet on Ulta Beauty in a regulatory filing late Wednesday, prompting the shares to climb 11% the next day. Many view the purchase as a classic value buy after the beauty supply chain's stock suffered a big sell-off this year amid slowing demand and increased competition. ULTA YTD mountain Ulta Beauty shares in 2024. Before Buffett's purchase boosted the stock, Ulta had tumbled 32% in 2024, trading at just 12 times forward earnings, according to FactSet.
Persons: Warren, Berkshire Hathaway, Oppenheimer, Rupesh Parikh, Ulta, it's, Stephanie Link, I've, Ted Weschler, Todd Combs, Buffett, Kraft Heinz Organizations: Hightower Advisors, Berkshire, Kroger Locations: The Omaha
CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Jobs shock hits stocksU.S. stocks plummeted on Friday after a weaker-than-expected jobs report added to fears of a recession. The Nasdaq Composite dropped 2.43% and is now in correction territory, having declined more than 10% from its recent high. Asian stocks plungeAsian stocks continued to sell-off on Monday, with the Japanese market confirming a bear market. The stocks had to pass several criteria, including receiving five or more earnings upgrades in the past three months.
Persons: Topix, Taiwan's Taiex, Warren Buffett Organizations: New York Stock Exchange, CNBC, Dow Jones Industrial, Nasdaq, Treasury, Federal, Nikkei, CSI, Berkshire Hathaway's, Apple . Berkshire, Exxon, Chevron, CNBC Pro Locations: New York City, China, Apple ., Berkshire, Guyana, U.S, San Ramon , California, Houston , Texas
Apple stock plunged as much as 11% on Monday on news that Berkshire Hathaway sold about 50% of its stake. Warren Buffett's conglomerate sold about 390 million Apple shares in the second quarter. The decline in Apple shares, which was double the Nasdaq 100's decline of about 5%, came after it was revealed over the weekend that Warren Buffett's Berkshire Hathaway sold about 50% of its Apple stake. According to its second-quarter earnings report, Berkshire Hathaway sold about 390 million Apple shares during the quarter, which is on top of the 115 million Apple shares it sold during the first quarter of the year. This is an opportunity, especially going into what I view as a really historic upgrade cycle for Apple," Ives said.
Persons: Berkshire Hathaway, Warren Buffett's, , Warren, Buffett, Cathy Seifert, Dan Ives, Ives, It's Organizations: Apple, Berkshire, Service, CFRA, CNBC Locations: Berkshire, Cupertino
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Nasdaq Composite dropped 2.43% and is now in correction territory, having declined more than 10% from its recent high. The unemployment rate rose to 4.3%, the highest since October 2021 when the global economy was still reeling from the Covid-19 pandemic. The stocks had to pass several criteria, including receiving five or more earnings upgrades in the past three months.
Persons: Warren Buffett Organizations: New York Stock Exchange, CNBC, Dow Jones Industrial, Nasdaq, Treasury, Federal, Berkshire Hathaway's, Apple . Berkshire, Exxon, Chevron, CNBC Pro Locations: New York City, Apple ., Berkshire, Guyana, U.S, San Ramon , California, Houston , Texas
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBerkshire's selling of Apple was 'risk management' decision, says Glenview's Bill StoneBill Stone, chief investment officer at Glenview Trust Company, joins CNBC's 'The Exchange' to discuss Berkshire Hathaway's selling of half of their stake in Apple.
Persons: Bill Stone Bill Stone Organizations: Apple, Glenview Trust Company, Berkshire Locations: Glenview
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