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☆ Berkshire director: Buffett CEO heir an ideal fit, but changeover not imminent
▼ + stars: | 2023-05-05 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

But Olson added that Abel is likely “a good number of years off” from taking over, with Buffett and Munger still on board. Buffett publicly designated him as his likely successor as CEO in 2021, after Munger appeared to let slip the board's thinking at that year's annual meeting. After Buffett departs, Berkshire is expected to name his eldest son Howard as non-executive chairman to preserve its culture, where business units operate essentially without interference from the top. Upon becoming CEO, Abel would likely experience "more formality" in his relationship with directors than Buffett, who took over in 1965, now has. "The bottom line is, not only is Warren satisfied, Charlie is satisfied that Greg ... will carry out that culture," he continued.

☆ Warren Buffett's successor Greg Abel is wooing shareholders, but some questions remain
▼ + stars: | 2023-05-05 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

To say that Warren Buffett's successor Greg Abel has big shoes to fill would be an understatement. The vice chairman for non-insurance operations at Berkshire Hathaway recently joined Buffett in Japan to visit the country's top trading houses. Skin in the gameAbel recently loaded up on Berkshire Hathaway shares with his personal assets. Berkshire acquired MidAmerican Energy in 1999, and Abel became CEO of MidAmerican Energy in 2008, six years before it was renamed Berkshire Hathaway Energy in 2014. How does dispute resolution work if there is a dispute," said a Berkshire shareholder, who spoke on the condition of anonymity.

☆ Mario Gabelli, John Rogers, and 3 other Warren Buffett experts just weighed in on the banking turmoil, pressure on house prices, and some of the investor's biggest bets. Here are their 10 best quotes.
▼ + stars: | 2023-05-05 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Five experts on Warren Buffett's Berkshire Hathaway spoke ahead of this year's annual meeting. Mario Gabelli, John Rogers, Chris Bloomstran, Adam Mead, and Todd Finkle discussed the conglomerate. Todd Finkle, the author of "Warren Buffett: Investor and Entrepreneur," emphasized the unique nature of Berkshire's yearly gathering, which attracts tens of thousands of people from around the world. Meanwhile, Adam Mead, the author of "The Complete Financial History of Berkshire Hathaway," touted the underlying value of Berkshire Hathaway Energy, and the savvy structure of Buffett's conglomerate. "Berkshire Hathaway Energy is going to become a powerhouse over the next decade.

☆ Factbox: Warren Buffett, Berkshire Hathaway at a glance
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +8 min

[1/2] 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. REUTERS/Scott Morgan/File PhotoMay 4 (Reuters) - Tens of thousands of people are descending on Omaha, Nebraska to attend the annual shareholder weekend for billionaire investor Warren Buffett's Berkshire Hathaway Inc (BRKa.N). Susan Buffett and Howard Buffett are Berkshire directors. His Berkshire stock will go to philanthropy after he dies. (Interview with CNBC, April 12, 2023)Abel on Berkshire managers' relationship with him: "It's not the same as working for Warren.

☆ Here are the 6 proposals Berkshire Hathaway investors will vote on this weekend - including removing Warren Buffett as chairman and requiring the company stay out of political discussions
▼ + stars: | 2023-05-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

At the meeting, the company will vote on 6 shareholder proposals that include removing Warren Buffett as Chairman. Buffett recommends investors vote against all of the shareholder proposals. These are the six shareholder proposals Berkshire Hathaway investors are expected to vote on this weekend. Proposed by: National Legal and Policy CenterBerkshire Response: "Warren Buffett, Berkshire's CEO, currently has a 31.5% voting interest in Berkshire. The Board believes that as long as Mr. Buffett is Berkshire's CEO, he should continue as Board Chair and as Berkshire's CEO.

☆ Buffett set for 59th shareholder marathon as big questions loom
▼ + stars: | 2023-05-04 | by ( Jonathan Stempel | ) www.reuters.com time to read: +6 min

[1/2] 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. Tens of thousands of people are flocking to Omaha, Nebraska this weekend for the extravaganza that Buffett, 92, calls "Woodstock for Capitalists." Buffett and Munger are due to answer five hours of shareholder questions at the meeting. "We believe in constructive engagement and dialogue, whether it's Warren Buffett or another company," Frerichs said in an interview. Reporting by Jonathan Stempel in Omaha, Nebraska; Editing by Will Dunham and Megan DaviesOur Standards: The Thomson Reuters Trust Principles.

☆ Warren Buffett's business partner warns of a credit crunch in commercial real estate - and says it's a tough time to be an investor
▼ + stars: | 2023-05-02 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Charlie Munger warned of a nationwide pullback in lending to the commercial real estate industry. Warren Buffett's partner said investors face stiff competition and an interest-rate headwind. He flagged that many of them have suffered painful blows to their loan portfolios from declines in real estate prices, and pointed to office buildings and shopping centers as particular headaches. The collapse of Silicon Valley Bank, Signature Bank, and First Republic Bank in recent weeks has stoked concerns of a wider credit crunch. Real estate investors rely heavily on debt, which has grown more costly thanks to rising interest rates.

Why did other bidders, such as Bank of America, drop out of the auction? And will short-sellers who had taken aim at First Republic move on to shares of other regional lenders? Mr. Munger, 99, also said investors should expect far lower returns on their money than in the past. Francis added that he was doing “all that is humanly possible” to return children taken from Ukraine to Russia. Writers have pushed for economic concessions from studios that factor in changes wrought by the rise of streaming

☆ Here's what's next for bank stocks after the failure of First Republic
▼ + stars: | 2023-05-01 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +4 min

First Republic's demise was the third regional bank failure since early March, when Silicon Valley Bank and Signature Bank folded within days of each other. There is cautious optimism on Wall Street that First Republic will be the last failure of this period. However, reports from other regional banks weren't nearly as dire, with many reporting that deposits had stabilized and were growing again. However, the failure of First Republic could cause some more turbulence, at least in the short-term, for both deposits and bank stocks. "We don't believe that regional banks are completely out of the woods," Wolfe Research chief investment strategist Chris Senyek said in a note to clients on Monday.

☆ Charlie Munger reportedly warns of trouble for the U.S. commercial property market
▼ + stars: | 2023-04-30 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Charlie Munger believes there is trouble ahead for the U.S. commercial property market. The 99-year-old investor told the Financial Times that U.S. banks are packed with "bad loans" that will be vulnerable as "bad times come" and property prices fall. "It's not nearly as bad as it was in 2008," he told the Financial Times in an interview. "We have a lot of troubled office buildings, a lot of troubled shopping centers, a lot of troubled other properties. Read the complete Financial Times interview here.

☆ Warren Buffett's former deputy slams crypto and meme stocks, heralds AI's 'iPhone moment,' and flags big risks to commercial real estate. Here are the 6 best quotes from her annual letter.
▼ + stars: | 2023-04-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett's ex-deputy blasts meme stocks and cryptos and welcomes a more sensible market. Tracy Britt Cool advises investors to be careful and touts ChatGPT as groundbreaking. Here are the six best quotes from Britt Cool and her Kanbrick cofounder in their annual letter. Tracy Britt Cool and her Kanbrick cofounder, Brian Humphrey, also jabbed at meme stocks and cryptocurrencies, and hailed artificial intelligence as a game-changing technology. (Britt Cool and Humphrey singled out commercial real estate, heavily indebted companies with floating-rate loans, and the mushrooming federal debt as areas of concern.)"

☆ Elon Musk says Warren Buffett should run the US Treasury - and the investor could do the job in under 1 hour per week
▼ + stars: | 2023-04-11 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Elon Musk would prefer Warren Buffett to be US Treasury secretary instead of Janet Yellen. The Tesla chief said the Berkshire Hathaway boss could do the job in less than 1 hour per week. "Probably Buffett," Musk tweeted. "Any highly successful investor with a long track record would do a good job – the job is essentially fund management at scale," he added. As for Buffett, he's questioned Musk's Twitter habit in the past, and jokingly challenged the auto executive to take on Berkshire in the candy business.

☆ Warren Buffett missed out on a monster return by not investing in Tesla early on, Elon Musk says
▼ + stars: | 2023-03-27 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett missed out on a monster return by not betting on Tesla early on, Elon Musk says. The famed investor and Berkshire Hathaway CEO could have achieved a similar result by simply betting on Tesla early on, Elon Musk says. He was commenting on a video clip showing how Berkshire's stock portfolio has changed over the last three decades or so. Buffett won't be kicking himself too hard, given Berkshire's stock portfolio ballooned in value by more than 20-fold between 1994 and the end of 2022. Buffett and Munger might have made more money on Tesla stock, but they were never likely to join the ranks of Musk's shareholders.

☆ Sunlight in your bedroom could become a luxury as cities debate allowing landlords to rent windowless rooms in former office buildings to alleviate the housing crisis
▼ + stars: | 2023-03-25 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Housing advocates are debating whether windowless bedrooms are the solution to the housing crisis. Enter windowless bedrooms. Journalist Matt Yglesias argued last year that windowless bedrooms would "save downtowns" by facilitating the mass retrofitting of office buildings into apartments. Supporters argue that building apartments with windowless bedrooms could both help alleviate the severe housing shortage and affordability crisis and repopulate urban business districts. But in recent years, windowless bedrooms have become somewhat normalized on college campuses.

☆ Buffett's Berkshire Hathaway speeds up stock buybacks
▼ + stars: | 2023-03-19 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

March 19 (Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N) has stepped up its pace of stock buybacks, repurchasing more than $1.8 billion of its own stock this year. Berkshire's repurchases have also included Class B shares, which normally cost about 1/1500th as much as Class A shares. The Class A shares closed on Friday at $442,765, their low for the year, while the Class B shares closed at $293.51, near their low. Buffett owns 15.6% of Berkshire's stock. In his Feb. 25 annual letter to shareholders, Buffett defended buybacks, calling someone who views all repurchases as harmful "an economic illiterate or a silver-tongued demagogue."

☆ Tesla vs. BYD: Market pros pick their favorite electric vehicle giant
▼ + stars: | 2023-03-17 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Tesla has long been an investor favorite for exposure to the electric vehicle transition, but not everyone is convinced. Berkshire Hathaway-backed BYD , for example, is often touted as a better bet than Tesla. BYD is so much ahead of Tesla in China ... it's almost ridiculous," Charlie Munger, vice-chairman of Berkshire Hathaway, said last month . "Long term, Tesla is not a car company and that's the difference. 'Take profit' in Tesla Wall Street veteran David Trainer has a more bearish view, however, as he urged investors to "take profit" in Tesla.

☆ Where Paul Wick, seasoned tech stock investor, is raising his bets now
▼ + stars: | 2023-03-12 | by ( Sarah Min | ) www.cnbc.com time to read: +9 min

So when a position opened up at the Seligman Communications and Information fund, the firm's then-chief investment officer asked Wick to take it over. Today, the Columbia Seligman Technology and Information fund (CCIZX) that Wick began running on New Year's Day in 1990, has $8.5 billion in assets under management. "It's really hard to guess how will the technology industry change in five years. By now, Wick has relationships going back decades in the tech industry. As of January, the Technology and Information fund held 2.96% of its assets in Bloom, up from 2.36% in October.

☆ Premarket stocks: What to watch as Fed Chair Powell testifies before Congress
▼ + stars: | 2023-03-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

New York CNN —Federal Reserve Chair Jerome Powell is on the hot seat this week as he testifies before Congress. Powell will have some good news to report — when he last testified before Congress in June, the inflation rate was at 40-year-highs, nearing 9%. Investors will also be on edge — hawkish language or even an aggressive tone from Powell could lead to market volatility. Some Fed officials agree. Economists, business leaders, investors and even Fed officials aren’t really sure about what’s happening.

☆ McDonald’s Directors Beat Sexual Misconduct Oversight Lawsuit
▼ + stars: | 2023-03-01 | by ( Richard Vanderford | ) www.wsj.com time to read: +5 min

The decision throws out shareholders’ claims against nine individuals who sat on McDonald’s board during a period in which sexual misconduct claims at the company drew widespread public scrutiny. After his termination, Mr. Easterbrook was accused of having undisclosed sexual relationships with other employees. McDonald’s ultimately settled a lawsuit against Mr. Easterbrook, clawing back some of his compensation. The shareholders alleged in their lawsuit that Mr. Fairhurst failed to appropriately respond to systemic issues of sexual misconduct at the company, a problem in which he was implicated. But Vice Chancellor Laster said McDonald’s directors “engaged with the problem” and can’t be held liable.

☆ Warren Buffett's 'secret sauce' for investing success: Be 'business pickers' not 'stock pickers'
▼ + stars: | 2023-03-01 | by ( Mike Winters | ) www.cnbc.com time to read: +5 min

Berkshire Hathaway founder Warren Buffett — one of the most successful investors in the world — says he and vice chairman Charlie Munger are not "stock pickers; we are business pickers." "We do not wish to join with managers who lack admirable qualities, no matter how attractive the prospects of their business," Buffett wrote in a 1989 shareholder letter. When a stock price seems low compared to the company's value, that's an opportunity to buy. But that doesn't mean that Buffett and Munger seek out the best bargains based on the stock price alone. You're investing in the business long-term, not just the stock price at the time of purchase.

☆ Warren Buffett praised the practice of long-term investing in his annual shareholder letter. These are the 10 longest-held stocks in Berkshire Hathaway's portfolio.
▼ + stars: | 2023-02-28 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Warren Buffett has long praised the practice of long-term investing when it comes to stocks. "The world is full of foolish gamblers, and they will not do as well as the patient investor," Buffett said in Berkshire Hathaway's 2022 shareholder letter. These are the 10 longest-held stocks in Berkshire Hathaway's $299 billion stock portfolio. These are the 10 longest-held companies in Berkshire Hathaway's $299 billion individual stock portfolio. UPSJustin Sullivan/Getty ImagesTicker: UPSTime Held: 17 yearsPortfolio Value: $10.3 million7.

☆ Warren Buffett’s Slap at Buyback Illiterates Rings True
▼ + stars: | 2023-02-27 | by ( Spencer Jakab | ) www.wsj.com time to read: 1 min

Berkshire Hathaway, whose chief executive is Warren Buffett, uses its stock repurchases to reward shareholders. Warren Buffett rarely uses his annual letter to shareholders to lobby for policies that would enrich Berkshire Hathaway or himself personally. He also generally strikes a grandfatherly tone, avoiding name-calling, though his acerbic 99-year-old business partner, Charlie Munger, is less restrained. Berkshire’s 2022 letter, released Saturday, was an exception. The topic was stock buybacks, newly subject to a 1% excise tax that President Biden recently proposed quadrupling in his State of the Union address.

☆ Warren Buffett’s greatest hits lose their verve
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Feb 27 (Reuters Breakingviews) - After writing bangers for decades, it makes sense to keep playing them over and over. Warren Buffett mostly trotted out his greatest hits over the weekend in his latest annual letter to Berkshire Hathaway (BRKa.N) shareholders. It’s a testament to Buffett’s proven ability to ride out economic storms, even though the $670 billion company’s size makes it ever harder to outperform the market. Buffett’s missive accompanying the financial results was among his shortest, at fewer than 3,500 words, in nearly 60 years of writing them. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Elon Musk suggests Warren Buffett should buy Tesla stock - and reveals Charlie Munger could have invested in 2008 at a tiny fraction of its valuation today
▼ + stars: | 2023-02-27 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett's Berkshire Hathaway should invest some of its excess cash in Tesla, Elon Musk said. Charlie Munger had the chance to buy into Tesla at a $200 million valuation in 2008, Musk said. Munger could have made 3,000 to 6,000 times his money, as Tesla is worth over $600 billion today. Musk's tweet suggests that Munger — Buffett's 99-year-old business partner and Berkshire's vice-chairman — could have bought, say, 5% of Tesla for a measly $10 million in 2008. Munger and Buffett have never publicly invested in Tesla, but both men have weighed in on Musk and his car company.

☆ Warren Buffett, in annual letter, stays upbeat and preaches patience
▼ + stars: | 2023-02-25 | by ( Jonathan Stempel | ) www.reuters.com time to read: +5 min

In his annual letter to Berkshire shareholders, the 92-year-old Buffett urged investors to focus on the big picture over the long term, rather than higher inflation and other factors that in 2022 dampened stock prices, though not Berkshire's. And I doubt very much that any reader of this letter will have a different experience in the future." "Buffett is very humble in assessing his own investment prowess, and unnecessarily so," said Thomas Russo, a partner at Gardner Russo & Quinn and longtime Berkshire investors. It also became a big seller of stocks including Taiwanese semiconductor maker TSMC (2330.TW) late in the year, while stepping up repurchases of its own stock. Buffett also urged investors not to dwell on near-term market conditions - he said Berkshire offers "modest protection from runaway inflation, but this attribute is far from perfect."

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