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☆ Berkshire sheds General Motors, Johnson & Johnson, Procter & Gamble as it builds cash
▼ + stars: | 2023-11-15 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

Berkshire Hathaway logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 10, 2023. Berkshire also appeared to have shed what had been a $621 million stake in Celanese (CE.N) , a specialty materials company. The Braves had been split off from Liberty Media , another Berkshire investment, in July. The net sales contributed to Berkshire's record cash stake, which is about the same size as its $156.8 billion stake in iPhone maker Apple (AAPL.O). Neither appears to be a current Berkshire investment.

Persons: Brendan McDermid, Berkshire Hathaway, Johnson, Warren Buffett, Todd Combs, Ted Weschler, Buffett, Benjamin Moore, Jonathan Stempel, Christian Schmollinger Organizations: Berkshire Hathaway, New York Stock Exchange, REUTERS, Berkshire, General Motors, Procter, Gamble, GM, Atlanta Braves Holdings, Major League Baseball, The Battery, Braves, Liberty Media, Chevron, Apple, U.S . Securities, Exchange Commission, IBM, Exxon Mobil, Activision, Microsoft, Globe, Markel, BNSF, Thomson Locations: Berkshire, New York City, U.S, Celanese, Omaha , Nebraska, New York, Lincoln

☆ Warren Buffett’s Berkshire trimming holdings, keeping new stock secret
▼ + stars: | 2023-11-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway sold a number of stocks last quarter during the volatile market, according to a new regulatory filing. The Omaha-based conglomerate dumped its remaining $780 million stake in General Motors , a stock Berkshire has been trimming for a few quarters. Berkshire also sold its $650 million stake in materials company Celanese , while exiting smaller positions in United Parcel Service , Johnson & Johnson , Mondelez International and Procter & Gamble. These holdings were still worth more than $1 billion each at the end of September, however. Berkshire has also asked the SEC to keep the details of one or more of its stock holdings confidential.

Persons: Warren, Berkshire Hathaway, Johnson, Todd Combs, Ted Weschler, Apple, Kraft Heinz, Moody's, Buffett Organizations: General Motors, United Parcel Service, Johnson, Mondelez International, Procter, Gamble, HP, Chevron, Berkshire, Bank of America, American Express, SEC Locations: Omaha, Berkshire

West Ham lost 2-1 away to the Greek side a fortnight ago but their win at the London Stadium put them level on nine points with second-placed Freiburg, who crushed bottom side Backa Topola 5-0. "If I was being honest, I don’t think we made enough chances or opportunities and I need to look to see why that was the case," West Ham manager David Moyes said. The West Ham fans then held their breath late on as the visitors nearly equalised when Mady Camara's close-range header struck the post when he should have scored. Marseille secured a second victory with their win in Athens thanks to goals from Chancel Mbemba and Ismaila Sarr. The Italians are unbeaten in Group D on 10 points, three ahead of Sporting who beat 10-man Rakow Czestochowa 2-1.

Persons: Ham United's Lucas Paqueta, Said Benrahma, Emerson Palmieri, Vladimir Coufal, Isabel Infantes, David Moyes, Paqueta, James Ward, Prowse, Mady Camara's, Mbemba, Sarr, Jarell Quansah, Alexis Mac Allister, Klopp, Atalanta, Berat Djimsiti, Pedro Goncalves, Bogdan Racovitan, Danilo Pereira, Todd Cantwell, Janina Nuno Rios, Tommy Lund, Ed Osmond, Ken Ferris Organizations: Soccer, Europa League, Ham United, Olympiacos, London, REUTERS, Olympiakos Piraeus, Olympique de Marseille, AEK Athens, West Ham, Backa, Olympiakos, Marseille, Ligue, Brighton & Hove Albion, Ajax Amsterdam, LIVERPOOL, Liverpool, French, Toulouse, Sturm Graz, Berat, Sporting, Rangers, Sparta Prague, Real Betis, Aris Limassol, Betis, Thomson Locations: London, Britain, Freiburg, Ham, Athens, European, Czestochowa

☆ The fight over return-to-office is getting dirty
▼ + stars: | 2023-11-07 | by ( Ed Zitron | ) www.businessinsider.com time to read: +13 min

Evidence is as evidence doesAs the return-to-office battle has heated up in the past six months, there has been a marked increase in declarations that remote work is less productive. The researchers determined that remote workers were 18% less productive than their in-person counterparts. Just the vibesDespite the limited evidence against it, corporations are increasingly trying to kill remote work. That's what makes the move to kill off remote work so frustrating. It's not clear that the return-to-office move is about making workers more productive or building a better culture.

Persons: it's, Mike Hopkins, they're, India —, Nicholas Bloom, who's, David Baszucki's, Geico, Amazon's Andy Jassy, Geico's Todd Combs, there's, Safra, Larry Ellison, wrongheaded, galvanizing sycophants, Ed Zitron Organizations: Amazon, Amazon Studios, National Bureau of Economic Research, Journalists, Stanford, Meta, —, Writers Guild of America, SAG, United Auto Workers Locations: India

☆ 9 Moves to Help You Pay Off Credit Card Debt
▼ + stars: | 2023-10-31 | by ( Kerri Anne Renzulli | ) www.wsj.com time to read: +14 min

More than half of all Americans are currently aren’t managing to pay their credit card bills in full each month, J.D. Power found recently, helping explain why we now owe a record $1 trillion in credit card debt. Request an interest rate reductionCall each of your credit card issuers and ask for a lower APR, advises Todd Christensen, education manager with Debt Reduction Services, a nonprofit debt counseling agency. Work with a nonprofit credit counseling agencyIf you’re struggling to make the minimum credit card payment required each month or already behind, reach out to a nonprofit credit counseling service for assistance. These organizations, typically members of the Financial Counseling Association of America or the National Foundation for Credit Counseling, will review your finances and credit card debt to help you better manage your budget and repayments.

Persons: Kerri Anne Renzulli, Power, you’ve, You’ll, Experian, Beverly Harzog, ”, Todd Christensen, John Ulzheimer, you’ll, you’re, Bruce McClary, Says Organizations: Mint, Debt, Surveys, TK, nab, Consumer Financial, Financial, Association of America, National Foundation, Credit, Credit Counseling Locations: FICO

☆ Warren Buffett's deputy spoke about his 'tiger mom,' taking risks, and having a short seller's eye. Here are Todd Combs' 8 best quotes from a new interview.
▼ + stars: | 2023-10-14 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Combs helps Warren Buffett manage Berkshire Hathaway's vast portfolio of stocks and other investments, and serves as CEO of Berkshire-owned Geico. He compared digging into a company to detective work, and underlined the value of having a short seller's eye when analyzing businesses. (Exploring different fields and taking risks is a great way to make your mistakes early and find your passion, Combs said.) If your dream is to make it to manager and you're perfectly fine there, that's pretty much where you're going to stop. (Berkshire doesn't short but Combs finds his short-selling skills help him identify companies' weaknesses.)

Persons: Todd Combs, Combs, Warren, —, Warren Buffett, didn't, You've, you've, Steve, Charlie, Tom Brady, Steph Curry Organizations: Berkshire Hathaway, Service Locations: Berkshire, Warren

☆ Warren Buffett's Berkshire Hathaway has likely scored a 93% gain on Nubank stock this year, making the crypto-friendly bank its best performer
▼ + stars: | 2023-10-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Berkshire Hathaway's best-performing stock this year is likely Nubank-owner Nu Holdings, up 93%. Apple stock is up this year, but other key Berkshire bets like Coca-Cola and Kraft Heinz are down. AdvertisementAdvertisementWarren Buffett's Berkshire Hathaway has notched a 93% gain on Nu Holdings since the start of January, likely making the Nubank owner the best performer in Berkshire's stock portfolio this year. Nubank shares have slid 13% from their IPO price fo $9 to trade at $7.84 as of Wednesday's close. Munger has hailed Sequoia as perhaps the "most remarkable investment firm in America" with "the best investment record of anybody."

Persons: Berkshire Hathaway's, Warren Buffett's, Kraft Heinz, —, Warren, Berkshire Hathaway, Berkshire hasn't, Buffett, Charlie Munger, Todd Combs, Ted Weschler, David Vélez, Munger, Sequoia Organizations: Berkshire, Nu Holdings, Apple, Kraft, Service, Bank of America, Sequoia Capital, Sequoia Locations: Berkshire, America, Sequoia

☆ Warren Buffett's deputy isn't in 'The Big Short' like Michael Burry - but he also bet against the housing bubble and spoke to Michael Lewis
▼ + stars: | 2023-10-11 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

"The Big Short" starred Michael Burry and others who bet the mid-2000s housing bubble would burst. Author Michael Lewis phoned Combs to talk about his housing wager while researching "The Big Short." AdvertisementAdvertisementMichael Burry and the other stars of "The Big Short" weren't the only investors to uncover the toxic assets underpinning the mid-2000s housing bubble, and place bets on its spectacular collapse. Lewis said he was working on a book about the whole situation that would become "The Big Short." AdvertisementAdvertisementCombs finished the story by saying he enjoys being "one small little piece" of the fascinating backstory behind "The Big Short."

Persons: Michael Burry, Todd Combs, Warren Buffett's, Michael Lewis, Combs, —, Warren, Ted Weschler, Baupost Group's Seth Klarman, Klarman, Bear Stearns, Lewis, Steve Eisman, Danny Moses, Greg Lippmann, Buffett, it's Organizations: Service, Berkshire Hathaway's, Countrywide, Washington, Long, Mortgage, Street, Securities and Exchange Commission Locations: Berkshire, Bear Stearns

☆ Warren Buffett's Berkshire Hathaway has now cashed in $540 million of HP stock in under a month
▼ + stars: | 2023-10-03 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett's Berkshire Hathaway sold another $130 million of HP shares in three days. The investor's company has now cashed in about $540 million of the computing stock in under a month. AdvertisementAdvertisementWarren Buffett's Berkshire Hathaway jettisoned another $130 million worth of HP stock during the last three trading days, it revealed in a regulatory filing on Monday. Buffett's conglomerate owned nearly 121 million shares, or 12.3% of HP, before it began selling on September 11. Prior to last month, Buffett's company hadn't touched the holding since last April.

Persons: Warren, Berkshire Hathaway, —, hadn't, Bill Hewlett, David Packard, Buffett —, Buffett, haven't, Todd Combs, Ted Weschler Organizations: HP, Service, Vanguard, Berkshire, Hewlett, Packard, HP Inc, Apple, Bank of America, American Express Locations: Berkshire, Monday's, California, Bank

☆ Behind Warren Buffett's $100 billion-plus bet on Apple and the iPhone
▼ + stars: | 2023-09-17 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

The new iPhone 15 is about to hit the stores, and Apple CEO Tim Cook might have already sent one to his most important investor — Warren Buffett. He bought Apple shares after realizing how devoted people are to its phones, and its unique ability to keep consumers spending within the Apple ecosystem. His return has been well over $100 billion on paper, making Apple Buffett's best investment over the past decade. "Our railroad is a very good business, but it's not remotely as good as Apple's business," Buffett said at the Berkshire shareholder meeting in May . The billionaire investor has called Apple Berkshire's "third-largest business," after its insurance and railroad holdings.

Persons: Tim Cook, — Warren Buffett, Buffett, Ted Weschler, Todd Combs, Ben Graham, Cook, buybacks Buffett, repurchases, Apple's Organizations: Apple, Oracle, New, Wall, CNBC Locations: Berkshire, Omaha

☆ Majority of US dog owners hesitant about canine vaccines, study finds
▼ + stars: | 2023-09-12 | by ( Rollo Ross | ) www.reuters.com time to read: +2 min

The study of Canine Vaccination Hesitancy (CVH) by Boston University's School of Public Health was released on Aug. 26. It found 37% of owners consider dog vaccines to be unsafe, 22% of dog owners view them as ineffective, and 30% deem them unnecessary. In all, 53% of dog owners held one of these three views, according to the study, which was conducted in partnership with the market research and data analytics company YouGov. However, veterinarians also try to persuade dog owners to get their pets vaccinated against other diseases. In California, vets recommend vaccines against parvovirus, canine hepatitis and distemper.

Persons: Mike Blake, Matt Motta, " Motta, Todd Calsyn, hesitancy, that's, it's, Calsyn, Patty Sosa, " Sosa, Sandra Stojanovic, Rollo Ross, Jorge Garcia, Bill Berkrot Organizations: REUTERS, Boston University's School of Public Health, Reuters, Laurel Pet Hospital, UNICEF, Thomson Locations: Encinitas , California, U.S, California, Laurel, West Hollywood, Laguna Beach, Los Angeles

☆ Warren Buffett at 93: All of the big moves from the still-active investing legend in the past year
▼ + stars: | 2023-08-30 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

Before turning 93 on Wednesday, Warren Buffett made a number of astute moves in the past 12 months that helped push his conglomerate Berkshire Hathaway to an all-time high. Buying T-bills Buffett's massive cash hoard swelled to nearly $150 billion at the end of the second quarter. And the only question for next Monday is whether we will buy $10 billion in 3-month or 6-month" T-bills, Buffett told CNBC. Ramping up Japan bet Buffett recently hiked his stakes in five Japanese trading houses — Itochu , Marubeni , Mitsubishi , Mitsui and Sumitomo — to more than 8.5%. Occidental stake tops 25% Buffett also kept buying the dip in Occidental Petroleum , now owning a quarter of the oil giant.

Persons: Warren Buffett, Berkshire Hathaway, he's, Buffett, Treasurys, Chamath Palihapitiya, oilman Armand Hammer, NVR, Todd Combs, Ted Weschler, Benjamin Moore Organizations: Buffett, Berkshire, CNBC, Japan, Mitsubishi, Mitsui, Sumitomo, Social, Occidental, Occidental Petroleum, Clayton Homes, Berkshire Hathaway Energy Locations: Berkshire, Fitch's, U.S, Japan, Occidental, Horton

☆ After funding her 401(k) for 25 years, one woman realized it wouldn't be enough to retire. She explains the beginner-friendly strategy she used to start investing in real estate with zero money upfron
▼ + stars: | 2023-08-24 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

When Tresa Todd decided to pursue real-estate investing, she didn't have a ton of savings. Encouraged by her three sons who had been investing in Dallas real estate and offered to mentor her, she sold her house, quit her job, and moved to Dallas. Getting started with real estate wholesalingWhen Todd moved to pursue real-estate investing, she didn't have a ton of savings she could dip into, so her sons recommended she start with wholesaling. Todd sold her home in Tyler, Texas and moved to Dallas to invest in real estate alongside her sons. Do a Google search to find a community in your zip code and start attending local real estate meet-ups.

Persons: Tresa Todd, she'd, She'd, Todd, —, Let's, She's Organizations: MLS, Estate Investors Locations: Tyler , Texas, Dallas, wholesaling

☆ Warren Buffett, Michael Burry, and other top investors revealed striking portfolio changes this week. Here are 4 key trades.
▼ + stars: | 2023-08-19 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Getty Images / Michael BucknerWarren Buffett's Berkshire Hathaway established stakes in a trio of homebuilders last quarter: Lennar, NVR, and DR Horton. The positions were worth a combined $814 million — a small bet in the context of Berkshire's roughly $350 billion stock portfolio. Buffett's portfolio managers, Todd Combs and Ted Weschler, were likely behind the purchases given their size. On the other hand, it exited its wagers on McKesson, Marsh & McLennan, and Vitesse Energy in the period. Buffett and his team also pared their positions in Activision Blizzard, Chevron, Celanese, General Motors, and Globe Life.

Persons: Warren Buffett Warren Buffett, Michael Buckner Warren, Berkshire Hathaway, DR, Todd Combs, Ted Weschler, Buffett Organizations: Getty, Capital, Occidental Petroleum, McLennan, Vitesse Energy, Activision Blizzard, Chevron, General Motors, Globe Locations: Capital One, Marsh, Celanese

☆ Warren Buffett's Berkshire Hathaway makes interesting bet on these homebuilders
▼ + stars: | 2023-08-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway bought shares of a few homebuilders in the last quarter, a new regulatory filing revealed. Horton shares, $70 million worth of NVR shares as well as $17.2 million worth of Lennar in the second quarter, the filing showed. These stakes are relatively small for Berkshire, whose equity portfolio is worth nearly $350 billion. Top holdings Berkshire shares just hit a record high last week on the back of strong second-quarter results. Also during the second quarter, Berkshire added to its relatively new stake in Capital One Financial , bringing it to nearly $1.4 billion.

Persons: Warren, Berkshire Hathaway, Horton, Todd Combs, Ted Weschler, Benjamin Moore Organizations: Berkshire, Clayton Homes, Apple, American Express, Bank of America, Capital, General Motors, Chevrolet, GMC Locations: Omaha, Berkshire, McLean , Virginia

☆ Warren Buffett's company invests in three homebuilders even as rates rise
▼ + stars: | 2023-08-14 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

Berkshire Hathaway logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 10, 2023. Berkshire said that as of June 30, it owned about 5.97 million DR Horton shares worth $726.4 million, about 153,000 Lennar shares worth $17.2 million, and 11,112 NVR shares worth $70.6 million. Larger investments are usually Buffett's, and investors often try to piggyback on Berkshire's moves, reflecting Buffett's reputation as an investor. The selling included 45% of Berkshire's stake in General Motors (GM.N), whose shares fell 1% after hours. Its largest stock holding by far remained its $177.6 billion stake in Apple (AAPL.O).

Persons: Brendan McDermid, Berkshire Hathaway, Warren Buffett, Benjamin Moore, Berkshire, Todd Combs, Ted Weschler, Jonathan Stempel, Lewis Krauskopf, Marguerita Choy, Matthew Lewis Organizations: Berkshire Hathaway, New York Stock Exchange, REUTERS, Berkshire, Clayton Homes, DR Horton, DR, BNSF, General Motors, Apple, Capital, Globe, Marsh & McLennan, Vitesse Energy, Thomson Locations: Berkshire, New York City, U.S, Manville, Marsh, New York

☆ Stock spinoffs beat the market by 10%. Here are some recent ones to buy
▼ + stars: | 2023-07-18 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Investors looking for some outperformance may want to check out stocks that are spun off from their parent companies, according to Morgan Stanley. Two years after completion, spinoffs outperformed the market by an average of 10.2%, the investment bank found. Parent companies, on the other hand, underperformed by 8%. "Spinoffs present investors with a unique opportunity to capitalize on unlocked and potentially underappreciated value," analyst Todd Castagno wrote in a note Monday. One of the biggest spinoffs in the past year was GE Healthcare Technologies , which split from General Electric in December.

Persons: Morgan Stanley, Todd Castagno, — Michael Bloom Organizations: BorgWarner, New York Stock Exchange, Nasdaq, GE Healthcare Technologies, General Electric, GE Health Locations: LabCorp

☆ Warren Buffett's Berkshire Hathaway cuts Activision stake as Microsoft deal inches closer
▼ + stars: | 2023-07-17 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Warren Buffett, chairman and CEO of Berkshire Hathaway, smiles as he plays bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Nebraska, May 5, 2019. Warren Buffett's Berkshire Hathaway dumped a significant portion of its stake in Activision Blizzard as Microsoft's deal to buy the video game company edged closer to the finishing line. The Omaha, Nebraska-based conglomerate disclosed a 1.9% stake in Activision with 14,658,121 shares, a new 13G filing released Monday evening showed. That compared with a 6.3% stake at the end of March and a 6.7% stake at the end of 2022. The 92-year-old investing legend has since added to the holding in a merger arbitrage play, betting that Microsoft's proposed acquisition of the video game company would close.

Persons: Warren Buffett, Berkshire Hathaway, Warren Buffett's Berkshire Hathaway, Ted Weschler, Todd Combs, Buffett, Charlie Munger Organizations: Berkshire, Berkshire Hathaway, Activision Blizzard, Activision, Federal Trade Commission, Microsoft, Oracle Locations: Omaha , Nebraska, The Omaha , Nebraska, Omaha

☆ Warren Buffett's Berkshire Hathaway is poised to score a $1 billion profit after Microsoft beats FTC in Activision case
▼ + stars: | 2023-07-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Berkshire Hathaway is poised to score a $1 billion profit after Microsoft prevailed against the FTC in its bid to acquire Activision. Warren Buffett's Berkshire Hathaway owned nearly 50 million shares of Activision at the end of the first quarter. Berkshire Hathaway first purchased a stake in Activision Blizzard in the fourth quarter of 2021, just a few months before Microsoft announced its proposed acquisition of Activision. Berkshire Hathaway ultimately built its Activision stake to a peak of 68.4 million shares in the second quarter of 2022 at an estimated weighted average price of $73.95 per share, Insider calculated. Since then, the conglomerate pared down its position in the third, fourth, and first quarters of 2022 and 2023, respectively, to 49.7 million shares.

Persons: Berkshire Hathaway, Warren Buffett's Berkshire, Warren, Todd Combs, Ted Weschler, Berkshire Hathaway's, Buffett, Microsoft's, Berkshire Hathaway —, —, CNBC's David Faber Organizations: Microsoft, FTC, Activision, Activision Blizzard, Warren, Warren Buffett's Berkshire Hathaway, Service, Berkshire, Buffett, Berkshire Hathaway's Locations: Berkshire, Wall, Silicon

☆ Paramount pops after Buffett's favorite banker makes 'interesting' bet in media giant's key shareholder
▼ + stars: | 2023-05-26 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

National Amusements, Paramount's majority voting shareholder, announced Thursday afternoon that it has entered into an agreement for a $125 million preferred equity investment from BDT Capital Partners, an affiliate of BDT & MSD Partners. Paramount Global shares jumped nearly 6% on Friday after an investor known as Warren Buffett's favorite banker piled into the media company's controlling shareholder. BDT & MSD Partners' chairman and co-CEO is Byron Trott, who has long been known as Buffett's preferred and trusted banker. "It's not good news when any company passes its dividend, or cuts its dividend dramatically," Buffett said. Upgrade from LoopLoop Capital on Friday upgraded Paramount to a hold rating from a sell in light of the BDT investment.

☆ This company models itself after Warren Buffett's Berkshire Hathaway. Analysts say it can beat the market too
▼ + stars: | 2023-05-21 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

Founded in 1930 and with a market value today of $18 billion, Markel is first and foremost a specialty insurance company focused on niche markets like livestock and dude ranches. Some Wall Street analysts have praised Markel's recent performance against both peers and the broader market. Markel has returned 16.1% annually over the past three years while the S & P 500 has returned 12.4%, according to FactSet. "Given the favorable insurance market conditions in many of MKL's product lines, we believe the company's P/B multiple may expand if it can maintain solid profitability." Markel also has its appeal to Berkshire, which took a $600 million stake in Markel in early 2022.

☆ Major investors loaded up on regional bank stocks during a turbulent first quarter
▼ + stars: | 2023-05-16 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Einhorn's Greenlight Capital took small stakes in New York Community Bancorp and First Citizens Bancshares in the first quarter, with each bet worth about $20 million, according to a regulatory filing. New York Community Bancorp's subsidiary, Flagstar, acquired Signature Bank assets after that bank was shuttered , while First Citizens bought a large portion of Silicon Valley Bank assets . New York Community shares are up nearly 20% this year, while First Citizens' stock has jumped more than 68% on the year. 'Big Short' Burry of "Big Short" fame snapped up a slew of regional banks last quarter, including New York Community Bancorp , Capital One Financial , Western Alliance , PacWest Bancorp and Huntington Bancshares during the first quarter. To make matters more confusing, the conglomerate dumped its remaining stakes in Bank of New York Mellon and U.S. Bancorp .

☆ Berkshire invests in Capital One, sheds Bank of NY Mellon
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: 1 min

May 15 (Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N) on Monday said it has begun investing in Capital One Financial Corp (COF.N) and no longer has a stake in Bank of New York Mellon Corp (BK.N). Berkshire made its disclosures in a regulatory filing listing its U.S.-listed stocks as of March 31. Capital One shares rose 5.3% in after-hours trading, following Berkshire's disclosure of an approximately $954 million stake in the bank. The filing does not identify which investments are Buffett's and which were made by his portfolio managers Todd Combs and Ted Weschler, though larger investments are usually Buffett's. Reporting by Jonathan Stempel in New York Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Berkshire invests in Capital One, sheds four stocks
▼ + stars: | 2023-05-15 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

Buffett's company made its disclosures in a regulatory filing listing its U.S.-traded stocks as of March 31. Capital One shares rose 5.7% in after-hours trading following Berkshire's disclosure of a 9.92 million share stake worth about $954 million. In Monday's filing, Berkshire also revealed a new $41.3 million stake in Diageo Plc (DGE.L), the maker of alcoholic beverages including Johnnie Walker and Guinness. BERKSHIRE BUYS MORE APPLE, BANK OF AMERICADespite the selling, Berkshire still invests in several financial services companies. Berkshire also has dozens of operating businesses including the BNSF railroad, Geico car insurance, and many energy, manufacturing and consumer units.

☆ Americans are keeping their cars longer amid sky-high prices, rising interest rates
▼ + stars: | 2023-05-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Cars, trucks, SUVs, and other vehicles drive in traffic on the 405 freeway through the Sepulveda Pass in Los Angeles, California, on August 25, 2022. DETROIT — The average age of passenger vehicles on U.S. roadways climbed to a record this year, as car owners hold on to their vehicles longer amid low supplies of new vehicles and sky-high prices. That includes a 3.8% increase for passenger cars to 13.6 years and a 1.7% uptick in trucks, SUVs and crossovers to 11.8 years. "The aftermarket and the repair market as a whole is definitely a winner as the average age continues to grow," said Todd Campau, associate director of aftermarket solutions for S&P Global Mobility. In total, S&P Global Mobility reports there are more than 284 million vehicles in operation on U.S. roads.

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