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☆ Warren Buffett’s Berkshire Hathaway reveals insurer Chubb as confidential stock it’s been buying
▼ + stars: | 2024-05-15 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Insurer Ace Limited acquired the original Chubb in 2016 for $29.5 billion in cash and stock, and the combined company adopted the Chubb name. His conglomerate Berkshire Hathaway has bought nearly 26 million shares of Zurich-based Chubb for a stake worth $6.7 billion. Warren Buffett finally revealed his secret stock pick in a new regulatory filing, and it's insurer Chubb . Mystery unveiledBerkshire has been keeping this purchase secret for three quarters straight. Berkshire was granted confidential treatment to keep the details of one or more of its stock holdings confidential.

Persons: Warren Buffett, Chubb, Evan Greenberg, Maurice Greenberg Organizations: Berkshire, Ace, American International, Berkshire Hathaway, Alleghany, Chevron, Verizon Locations: Omaha , Nebraska, Zurich, The Omaha, Berkshire, Markel, Omaha

☆ Warren Buffett downsized his Apple stake for tax reasons. Here's what it means
▼ + stars: | 2024-05-15 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Warren Buffett surprised many by selling a significant portion of his gigantic Apple stake, and his reason for the sale was even more surprising. Buffett, who trimmed Berkshire Hathaway's Apple holding by 13% in the first quarter after reaping enormous gains, suggested that the sale was for tax reasons. He implied the sale could be a means of avoiding an even higher tax bill down the road if tax rates rise to help plug a ballooning U.S. fiscal deficit. There's no special tax rate for capital gains in a corporation as they become part of the entity's income. Corporate income tax rate The corporate tax rate in the U.S. averaged 32.1% from 1909 to 2024, with a peak of 52.8% in the late 1960s, according to the Internal Revenue Service.

Persons: Warren Buffett, Buffett, There's, Kelly Gillette Organizations: Apple, Treasury Department, U.S, Internal Revenue Service, Armanino LLP, Apple Berkshire, Berkshire Locations: Berkshire, Omaha, Texas

☆ Lawrence Cunningham talks Berkshire Hathaway's investment in Chubb
▼ + stars: | 2024-05-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLawrence Cunningham talks Berkshire Hathaway's investment in ChubbHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Lawrence Cunningham, Chubb, Brian Sullivan, “ Organizations: Berkshire, CNBC

☆ Warren Buffett thinks taxes are on the way up. Why selling stocks in advance may not be a good call
▼ + stars: | 2024-05-15 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

That's because the amount of money that's converted is subject to ordinary income tax – which can be as high as 37%. Even for those who are taxed at a lower rate, a sufficiently large conversion might bump them into a higher tax bracket. Long-term capital gains taxes have three tiers, depending on an investor's income: 0%, 15% and 20%. In a higher tax environment, "tax loss harvesting will become more important, and doing it in a performance-neutral way," said Jerrod Pearce, a certified financial planner and partner at Creative Planning in Overland Park, Kansas. Don't sell highly appreciated assets to generate cash if you're donating to charity.

Persons: Warren Buffett, Berkshire Hathaway, Buffett, Trump, Tim Steffen, Baird, Roth, Steffen, that's, Jerrod Pearce Organizations: Creative Planning, Mutual Locations: Berkshire, Washington, Overland Park , Kansas

☆ Warren Buffett finally reveals the mysterious company he’s invested billions of dollars in
▼ + stars: | 2024-05-15 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —The mystery is over: Warren Buffett’s Berkshire Hathaway disclosed a major stake in the insurance company Chubb, finally revealing the investment he has kept under wraps since last year. Berkshire revealed it acquired nearly 26 million shares of Chubb in a Wednesday Securities and Exchange Commission filing of the company’s first quarter investments. Buffett, Berkshire’s CEO famous for his investing prowess, has amassed a sizable following of investors who mimic his portfolio moves. The investment in Chubb underscores Berkshire Hathaway’s investment strategy over the past several months. Berkshire also sold 80 million shares of printer company HP in the fourth quarter of 2023, reducing its holdings by 78%.

Persons: Warren Buffett’s Berkshire Hathaway, Chubb, Donald Trump’s, Jean Carroll’s, Buffett, Berkshire’s, Buffett’s, Berkshire Hathaway, Nicole Goodkind Organizations: CNN, Wednesday Securities, Exchange Commission, SEC, Berkshire Hathaway’s, Insurance, Indemnity, American Express, Bank of America, Apple, HP Locations: Berkshire

☆ Stocks making the biggest moves after hours: Chubb, Cisco Systems, Palo Alto Networks and more
▼ + stars: | 2024-05-15 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Chubb became Berkshire's ninth biggest holding at the end of March, according to a new regulatory filing. AST SpaceMobile — Shares rocketed 33%. Cisco Systems — Shares jumped nearly 5% after the IT giant reported fiscal third-quarter adjusted earnings of 88 cents per share on revenues of $12.70 billion. The results topped analysts' estimates for earnings of 82 cents per share on revenues of $12.53 billion, according to LSEG. Palo Alto Networks — The cybersecurity company saw its stock rise 1% after announcing it will buy cloud security software assets from IBM .

Persons: Chubb, Berkshire Hathaway, Riley, Hawkins —, — CNBC's Scott Schnipper Organizations: AST, Cisco Systems —, Riley, Management, Alto Networks, IBM, Palo Alto Locations: Zurich, Los Angeles, Hawkins — The Minnesota, Palo

☆ Warren Buffett's company reveals its mystery bet is a nearly $7 billion stake in insurance giant Chubb
▼ + stars: | 2024-05-15 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Warren Buffett's secret stock is Chubb, an insurance giant. Berkshire Hathaway quietly built a 6.4% stake in under nine months, worth $6.7 billion as of March. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Buffett's company initially purchased 8.1 million Chubb shares worth $1.7 billion at the end of September, then boosted the position to 20.1 million shares valued at $4.5 billion at December's close. It raised the bet to 25.9 million shares worth $6.7 billion at the end of March, SEC filings revealed on Wednesday.

Persons: Warren, Berkshire Hathaway, Buffett, —, Warren Buffett Organizations: Berkshire, Apple, Service, Berkshire Hathaway, Chubb, SEC, Business

☆ How Melinda French Gates became one of the world’s wealthiest and most important philanthropists
▼ + stars: | 2024-05-14 | by ( Samantha Delouya | ) edition.cnn.com time to read: +5 min

CNN —On Monday, Melinda French Gates announced her resignation from the Bill and Melinda Gates Foundation, officially ending one of the world’s leading philanthropic partnerships. In French Gates’ 2008 Fortune profile, Buffett said French Gates helped focus the foundation’s mission. In addition to French Gates, Gates and Buffett, The Giving Pledge counts billionaires like Mark Zuckerberg, Elon Musk and MacKenzie Scott as signatories. French Gates has a net worth of $13.3 billion, according to the Bloomberg Billionaires Index, while Bill Gates’ net worth is $153 billion. French Gates’ departure from the Bill and Melinda Gates Foundation has been hinted at since the couple announced their divorce in May 2021.

Persons: Melinda French Gates, Melinda Gates, Gates, Bill Gates, Melinda Gates ’, Warren Buffett, Buffett, ” Buffett, Mark Zuckerberg, Elon Musk, MacKenzie Scott, “, French Gates Organizations: CNN, Melinda Gates Foundation, Microsoft, Duke University, Fortune Magazine, Gates Library Foundation, Berkshire Hathaway, Bloomberg, Rutgers ’ Center, American Women Locations: United States, Fortune, “, Gates, French, Politics

☆ Harvard expert shares the No. 1 lesson to learn from Warren Buffett’s career: 'You can't be really successful' without it
▼ + stars: | 2024-05-14 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Warren Buffett's Berkshire Hathaway raised its stakes in Mitsubishi Corp., Mitsui & Co., Itochu, Marubeni and Sumitomo — all to 7.4%. "To be truly successful, to do anything great, you have to use your strengths,. "So I think you need both to be truly successful," he says. Find what motivates youThere are two types of motivation, George says: extrinsic motivation, like a comfortable salary, and intrinsic motivation, like enjoying a job where you get to help people every day. Becoming more successful can start with figuring out your own intrinsic and extrinsic motivations, says George.

Persons: Warren, Berkshire Hathaway, Warren Buffett, Bill George : Buffett, George, Zach Clayton, Buffett, Forbes, Buffett didn't, Hone Organizations: Mitsubishi Corp, Mitsui & Co, Sumitomo, Harvard University, Berkshire, Harvard Business School, CNBC

☆ ‘Frankly stupid’: Fund manager weighs in on reignited meme stock frenzy as GameStop soars
▼ + stars: | 2024-05-14 | by ( Vicky Mckeever | ) www.cnbc.com time to read: +1 min

Fund manager Cole Smead has described the meme stock craze as "frankly stupid," as day traders once again pile into GameStop and AMC . The jump was seemingly prompted by a post on social media platform X by "Roaring Kitty," who in 2021 encouraged an army of day traders to pile into GameStop. In premarket trading on Tuesday, shares in GameStop and AMC were up 47% and 51% respectively at 6 a.m. E.T. Quoting "the late, great Charlie Munger," Smead said the day traders were "just taking in rat poison." Munger, who passed away last year, was the vice chairman of Berkshire Hathaway and famously described cryptocurrency as "rat poison."

Persons: Cole Smead, You've, Roaring, Kitty, Keith Gill, E.T, Charlie Munger, Smead, Munger, Berkshire Hathaway, Yun Li, Fred Imbert Organizations: GameStop, AMC, Smead Capital Management, Massachusetts Mutual Life Insurance, Berkshire

☆ Warren Buffett is hoarding $200 billion as he may see 'storm clouds' ahead, says top economist Steve Hanke
▼ + stars: | 2024-05-14 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Warren Buffett expects Berkshire Hathaway's cash pile to hit more than $200 billion this quarter. The investor can't find assets worth buying and seems to see "storm clouds" ahead, Steve Hanke said. "Cash is king, and given what Buffett is being paid to hold it, the king is not going hungry," he said. AdvertisementWarren Buffett is building a cash pile as he probably can't find anything worth buying, and may be bracing for a tempest to hit, says Steve Hanke. This story is available exclusively to Business Insider subscribers.

Persons: Warren Buffett, Steve Hanke, Cash, Buffett, — Organizations: Berkshire, Service, Johns Hopkins University, Business, Buffett, Apple Locations: Berkshire

☆ A new era of heartthrob is here, and Nicholas Galitzine is its poster boy
▼ + stars: | 2024-05-14 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +7 min

Galitzine's sexuality-spanning filmography is unique in that it's been pretty evenly split between gay and straight roles. Galitzine's focus on multi-dimensional characters makes him the heartthrob Gen Z wants and needsNicholas Galitzine as George Villiers in "Mary & George." StarzIt's remarkable that Galitzine has effectively built his career playing a number of commercial gay roles when it used to be true that "playing gay" could destroy an actor's career. On the flip side, there's a certain amount of discomfort with Galitzine, who has said he identifies as straight, playing queer roles. But it's clear he'll still keep playing roles across the spectrum of sexuality.

Persons: —, Nicholas Galitzine, Galitzine's, I'm, Galitzine's bashfulness —, who'd, Luke Perry, Prince Robert, Camila Cabello, Anne Hathaway, Mary, George, Anne Hathaway's, Galitzine, Hayes Campbell, Hayes, Hathaway's Solène, Hathaway, Solène she's, Michael Showalter, Nick, Showalter, Cathy Schulman, He's, Chalamet, Jacob Elordi, Alex, Henry, Jonathan Prime Hayes, George Villiers, King James I's, it's, Armie, he's, Gen, Z Organizations: Service, SXSW, Business, Starz, Gay Locations: Austin, Hollywood, Galitzine, British

☆ How Fox's Tubi captured Gen Z's attention and became the fastest-growing streaming service
▼ + stars: | 2024-05-13 | by ( Lucia Moses | ) www.businessinsider.com time to read: +8 min

TubiHow Tubi found a Gen-Z audienceTubi, which was acquired by Fox in 2020 for $440 million, didn't deliberately aim at Gen Z when it started in 2014. Because Gen Z spends so much time on social media, they're used to entertainment being free. "Gen Z is orienting themselves around shared interests, subculture interests. The plan is to turn fans into promotors, recognizing that Gen Z is heavily influenced by their friends' recommendations; the initiative is in beta. My thesis is not that people are going to cancel their Netflix subscriptions and go running to Tubi," Parlapiano said.

Persons: Tubi, Peacock, Max, Gen, Nicole Parlapiano, It's, it's, Rupert Murdoch, Fox, There's, didn't, they're, Parlapiano, we've, Carter, Anne Hathaway, Bijou Phillips, Joseph Gordon, Levitt, Chris Baker, Issa Rae's, Bridgerton's, Nicola Coughlan Organizations: Service, Fox, Nielsen, Disney, Hollywood, Business, YouTube, Netflix, FAST, ColorCreative, promotors Locations: Tinder, Tubi

☆ These stocks are set to gain the most over the next month, according to an AI model
▼ + stars: | 2024-05-13 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

One of those programs is iFi Ai, an investment information firm powered by IBM's Watsonx. IFi AI takes in a wide range of market signals and data to make projections about where individual stocks will go next. One of the outputs from the iFi AI model is a 30-day projected price return. The iFi AI model sees a gain of 23%. The iFi AI model is not the only entity bullish on Schwab.

Persons: Ai, IBM's Watsonx, Ron Insana, Warren Buffett's Berkshire Hathaway, iFi, Piper Sandler, Matthew Clark, Charles Schwab, Schwab Organizations: CNBC, Paramount Global, Paramount, Sony, Skydance Media, Western Alliance

☆ In case you missed: More of Warren Buffett's insights from the latest Berkshire meeting
▼ + stars: | 2024-05-12 | by ( Yun Li | ) www.cnbc.com time to read: +5 min

"Under certain market conditions, we could deploy quite a bit of money in repurchases," he said at the shareholder meeting. Berkshire paid $9.2 billion in all of 2023 to repurchase both Class A and Class B shares. "I think it's a fair assumption that [cash holdings] will probably be about $200 billion at the end of this quarter," Buffett said. Cash is attractive Asked about the lack of action to invest his mountain of cash, Buffett revealed that he finds cash attractive right now compared to other assets, especially equities. "If I saw one of those now, I'd do it for Berkshire," Buffett said, referring to his Japanese bet.

Persons: Warren Buffett, Buffett, Cash, he's, Benjamin Graham, I've, Greg Abel Buffett, Greg Abel, Buffet, Abel, Greg, Ajit, Ajit Jain Organizations: Berkshire Hathaway, Berkshire buybacks Berkshire, Companies, Apple, Treasury, Berkshire, Columbia University Locations: Woodstock, Berkshire, repurchases

☆ Warren Buffett's selling stocks like Apple as he sees trouble ahead — but he'll spend if markets crash: elite strategist
▼ + stars: | 2024-05-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWarren Buffett is cashing in stocks like Apple because he knows the good times won't last — but he'll spend big once disaster strikes, a veteran strategist says. AdvertisementThe conglomerate's disposals fueled a $21 billion increase in its stack of cash and Treasurys to a record $189 billion. Related storiesDietrich underscored that as a value investor, Buffett prizes underpriced assets and avoids expensive ones. Apple, which remains Buffett's largest stock holding by far, has more than tripled in value since he finished building the position in 2018.

Persons: —, Warren Buffett, Paul Dietrich, Riley Wealth, Buffett, Dietrich, He's, Jeff Bezos, Jamie Dimon, Meta's Mark Zuckerberg, he'll, Goldman Sachs, Davidson Organizations: Service, Apple, Business, Berkshire Hathaway, Berkshire, Walmart, downturns, Electric, Dow Chemical Locations: Berkshire

☆ How American carmakers lost ground in China
▼ + stars: | 2024-05-11 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +2 min

American automakers and their non-Chinese counterparts are fighting an existential battle, as local rivals in China outpace them. GM's sales in China, including those of joint ventures it maintains in the country, have fallen from a high of 4 million vehicles in 2017 to 2.1 million in 2023. Several factors have contributed to the decline of U.S. automakers in China. That's precisely why American automakers shouldn't give up on China despite the U.S. companies' sales setbacks, according to Bill Russo, a former Chrysler executive who runs Automobility, a consulting firm in Shanghai. "If you don't compete in China, then what are you going to do when China shows up in your backyard?"

Persons: Michael Dunne, Dunne, Berkshire Hathaway, —, shouldn't, Bill Russo, Russo, haven't Organizations: U.S, Ford, GM, Hyundai, Kia, Nissan, Lotus, Volvo, Berkshire, Huawei, Chrysler Locations: China, U.S, Sweden, Shanghai

☆ Warren Buffett is battling a bargain drought — and pared his Apple bet because it's a 'one-trick pony,' expert says
▼ + stars: | 2024-05-11 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett is building up cash because he can't find anything better, Ted Oakley said. Buffett probably cut his Apple stake to reduce his exposure to the "one-trick pony," Oakley said. AdvertisementWarren Buffett is stacking up cash because he's battling a bargain drought — and he likely trimmed Apple because he felt overexposed to the iPhone maker, one expert says. AdvertisementApple accounted for half of Berkshire's $354 billion stock portfolio at the end of December. "Warren Buffett knows that," he said.

Persons: Warren Buffett, Ted Oakley, Buffett, Oakley, —, overexposed, Berkshire Hathaway, Buffett's Organizations: Service, Oxbow Advisors, Apple, Oxbow Locations: pouncing, Berkshire, China, Russia, India, Saudi Arabia

☆ Bronze bust honoring the late Charlie Munger wowed crowd in Omaha at Berkshire meeting
▼ + stars: | 2024-05-11 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

OMAHA, Neb. — A 24-inch tall, bronze bust sculpture of the late Charlie Munger became a conversation piece for guests who lodged at the Omaha Marriott last weekend for the Berkshire Hathaway annual meeting. "I got back to the lobby and the hotel staff was like 'Doerthe came down twice to look for you,'" Yu Shu, the 39-year-old artist behind the sculpture, told CNBC in an interview. "Then they called Doerthe and she came down. I gave her a hug, and I told her 'nice to see you again' and she's like 'we've never met before.'"

Persons: Charlie Munger, Warren Buffett, — Munger's, Wendy, Doerthe Obert, Yu Shu, we've Organizations: Omaha Marriott, Berkshire Hathaway, CNBC Locations: OMAHA, Neb, Omaha, Berkshire

☆ CNBC's Inside India newsletter: A disconnected stock market
▼ + stars: | 2024-05-10 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

CNBCThis report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. For local investors, Indian stocks would have underperformed the U.S. benchmark by more than 45 percentage points since Buffett's 2008 bet. It appears that India's near 8% GDP growth isn't transforming into stock market returns. But that has also meant significant competition for the incumbents, many of which are listed on the stock market. This year has also been particularly unlucky for Indian stock market investors thanks to the uncertainty added by politics.

Persons: Warren Buffett, it's, Jonathan Pines, Federated Hermes, Rajeev Agrawal, Agrawal, Narendra Modi's, Kevin Carter, Buffett, Carter, Modi, Narendra Modi, Amit Shah, Virat Kohli, Rajat Patidar Organizations: Berkshire, CNBC, BSE, Federated, DoorDarshi Advisors, Narendra Modi's BJP, India, Ecommerce, One97 Communications, Ujjivan Financial, BJP, Russia, Indian, Ukraine, India's Central Bureau of Investigation, Indian Premier League, Wednesday, Royal Challengers Bengaluru Locations: Omaha , Nebraska, Omaha, BSE India, India, United States, Gandhinagar Lok Sabha, Russia, Mumbai, Punjab Kings

☆ Racism Alleged at Multiple Globe Life Affiliates
▼ + stars: | 2024-05-10 | by ( Susan Antilla | ) www.businessinsider.com time to read: +20 min

"If I'd brought it up, I would have been blackballed," he told BI. She told BI that Lobello frequently sent her racist memes he found online that contained the N-word. AdvertisementBell, in the hat at right, at a team dinner for an AIL agency then known as Giglione-Ackerman. In the areas she was assigned, she told BI, "most of the people were uninsurable" because of poor health, hard drug use, and poverty. If you work at Globe Life or AIL and have information to share about the company, please contact Susan Antilla at susan.antilla1@gmail.com .

Persons: Domenico Bertini, Chris Selejan, Rob Gray, James " Bo, E, Gentile, Organization —, Frank Svoboda, Warren Buffett's Berkshire Hathaway, Fuzzy Panda, Scott Dehning, AIL, Dehning, Jennifer Haworth, I'd, John L, Ann Marie Arcadi, Gray, Eric Giglione, Giglione, Bell, He'd, Brian W, Fraser, Popeyes, Morgan Lobello, Lobello she'd, y'all, Lobello, David Zophin, Ackerman, Andy Mercado, texted, quieted, Bell's, Raynaldo Lafontant, David Ackerman, Lafontant, Mercado, Sarah Reay, Reay, Debra Gamble, Gamble, Nicole Korkolis, Donnaya Presberry, Presberry, Abeni, Mayfield, Amy Williamson, Abeni Mayfield, Rosem Morton, Silvana Pajor Flores, Pajor Flores, Susan Antilla Organizations: Globe Life, Business, Globe, New York Stock Exchange, Texas Rangers, Dallas Cowboys, Organization, BI, Department of Justice, Research, Latina, Ackerman Agency, New Jersey Superior Court, SEAT, Giglione, Commission, Professional Employees International Union, Liberty National Division, Liberty National, Edison, AIL Locations: Kentucky, Bertini, Pennsylvania, McKinney , Texas, Michigan, West Virginia, New Jersey, Argentina, Aurora , Colorado, Edison , New Jersey, Edison, Giglione, Morgantown , West Virginia, Moon Township , Pennsylvania, Pittsburgh, Columbia , Maryland, Cumberland , Maryland, Kansas, Waco , Texas, Colorado, AIL, susan.antilla1@gmail.com

☆ Warren Buffett had to work from his iPhone for days after lines went down at Berkshire Hathaway
▼ + stars: | 2024-05-10 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Warren Buffett slashed his Apple stake then found himself forced to work from his iPhone. The investor turned to the device after phone lines went down this week at Berkshire Hathaway HQ. "I'm glad we didn't sell all of our Apple," Buffett joked to The Omaha World-Herald. The famed investor revealed during Berkshire Hathaway's annual shareholder meeting on Saturday that he'd slashed his Apple stake. He was nodding to Berkshire cashing in 13% of its Apple stake for roughly $20 billion last quarter.

Persons: Warren Buffett, Buffett, —, he'd, Berkshire Hathaway Organizations: Apple, Berkshire Hathaway, Service, Berkshire Hathaway's, Berkshire Locations: Omaha, Berkshire

☆ Warren Buffett said he could make a 50% return on $1 million and predicted higher taxes. Here are 14 Q&A nuggets.
▼ + stars: | 2024-05-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +7 min

Read previewWarren Buffett let slip a slew of intriguing facts and anecdotes during Berkshire Hathaway's annual shareholder meeting on Saturday. But the Berkshire CEO also warned of higher taxes, teased a potential Canadian investment, and revealed a $500 million gift of Berkshire stock. Cash hoardBerkshire's mountain of cash and Treasury hit a record $189 billion last quarter, and it's likely to swell to more than $200 billion this quarter, Buffett said. Taxing timesThe government will probably raise taxes in the coming years in a bid to balance its budget, Buffett said. Pocket changeBuffett claimed that if he had only $1 million to invest instead of nearly $200 billion, he could earn a 50% annual return.

Persons: —, Warren Buffett, Buffett, he'd, Costco Buffett, Charlie Munger, Charlie, Talia Lakritz, he's, Todd Combs, Ted Weschler, Greg Abel, Greg, Munger, Abel, haven't, Ruth Gottesman, Sandy Gottesman, Brent N, Clarke, Garry Kasparov, Kasparov, B Organizations: Service, Paramount, Business, Treasury, Costco, Albert Einstein College of Medicine, Getty, Berkshire, Nebraska Furniture Locations: Berkshire, Russian, Omaha, Costco . Berkshire, Wisconsin, Canada, Nebraska

☆ Helzberg Diamonds CEO says you 'cannot tell a difference' between lab grown and natural diamonds
▼ + stars: | 2024-05-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHelzberg Diamonds CEO says you 'cannot tell a difference' between lab grown and natural diamondsHelzberg Diamonds CEO Brad Hampton speaks with Becky Quick at the Berkshire Hathaway Annual Meeting to discuss consumer trends, lab grown vs. natural diamonds and store productivity.

Persons: Brad Hampton, Becky Quick Organizations: Berkshire Hathaway

☆ NFM Chairman Irv Blumkin: 'It's been a challenging year' for the consumer
▼ + stars: | 2024-05-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNFM Chairman Irv Blumkin: 'It's been a challenging year' for the consumerNebraska Furniture Mart Chairman Irv Blumkin speaks with Becky Quick at the Berkshire Hathaway Annual Meeting to discuss the state of the consumer, pricing, inflation and product sourcing.

Persons: Irv Blumkin, Becky Quick Organizations: Berkshire Hathaway Locations: Nebraska

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