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☆ Warren Buffett's Apple bet is worth $158 billion or 22% of Berkshire Hathaway's total market value. The investor gave 5 reasons why he's not stressing about the wager's size.
  + stars: | 2023-05-10 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +4 min
Warren Buffett defended the size of Berkshire Hathaway's $158 billion stake in Apple on Saturday. Buffett also underscored another benefit to holding Apple stock: share repurchases. The Berkshire chief noted an additional part of Apple's value is its appeal to customers. He gave a theoretical example of someone having to choose between parting with a second car worth $35,000, or their $1,500 iPhone. "If they had to give up a second car or give up their iPhone, they give up their second car," he said.
☆ Don't look now, but Wall Street bonuses are already trending in the wrong direction
  + stars: | 2023-05-09 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +5 min
Wall Street, I'm sorry to say your 2023 bonus is already on some shaky ground. I realize we're not even halfway through the year, but after an awful first quarter, bonuses in plenty of areas of finance are trending in the wrong direction. It's a mixed bag, with some areas trending toward a double-digit percentage increase over 2022, while others are heading the opposite way. If that isn't a certainty, you can bet people, especially those earlier in their career, will look for greener pastures. Six of the largest European and US oil companies have a combined nearly $160 billion in cash and cash equivalents on their balance sheets, The Wall Street Journal reports.
☆ Quiet quitting hits the housing market: Tight inventory and still-high mortgage rates keep would-be buyers sidelined
  + stars: | 2023-05-09 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +5 min
Today we're talking housing — but before we get to that, the big thing to watch today is President Joe Biden's meeting with congressional leaders. Joe Raedle/Getty ImagesThe housing market seems to be taking a page from the labor market's playbook right now. Daryl Fairweather, Redfin's chief economist took to Twitter last week to describe the sluggish sector:"Homeowners are quiet quitting the housing market." In effect, more and more homeowners are choosing to stay put with their low mortgage rates locked in, rather than trying to finance a new home at rates that are hovering around 20-year highs. That's due mostly to high rates causing homes to sit on the market longer than usual, which leads to accumulating inventory.
☆ Warren Buffett says avoiding mistakes in life is simple: 'Write your obituary and then try to figure out how to live up to it'
  + stars: | 2023-05-09 | by ( Matthew Loh | ) www.businessinsider.com   time to read: +3 min
Warren Buffett said the key to avoiding mistakes is to "write your own obituary," and live up to it. Buffett was doling out life advice and investing tips at a shareholder's meeting on Wednesday. Warren Buffett, 92, says the key to avoiding major mistakes in life is to write your own obituary and reverse-engineer it. At the meeting, a 15-year-old boy asked Buffett and Munger for advice on avoiding mistakes. "You should write your obituary and figure out how to live up to it," the Berkshire Hathaway chairman and CEO answered.
☆ UBS shares its 5 top takeaways for investors from Berkshire Hathaway's 'best annual meeting in years' — including how Warren Buffett's successor will take over
  + stars: | 2023-05-09 | by ( James Faris | ) www.businessinsider.com   time to read: +6 min
Berkshire Hathaway had a successful annual meeting following its Q1 earnings report. Warren Buffett's Berkshire Hathaway had its "best annual meeting in years" over the weekend, according to UBS analyst Brian Meredith — and it wasn't just because of its strong earnings report. 5 top takeaways from Berkshire Hathaway's annual meetingStrong earnings results were just one impressive component from Berkshire Hathaway's annual meeting. "We viewed Berkshire's 2023 annual meeting as the best in several years with quality questions and insightful answers," Meredith wrote. After BNSF undershot on volumes and suffered from higher compensation costs, Berkshire investors may start to wonder if the company would reconsider its stance against PSR.
☆ Wall Street is empowering its employees to build their own tech tools. But who is keeping track of all this stuff?
  + stars: | 2023-05-08 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +5 min
A story about training non-tech workers that has nothing to do with ChatGPT? Man Group, a $144 billion investment firm, has a popular training program to get non-tech workers up to speed on coding and data-science. Programs like <develop>, along with the rise of ChatGPT, speak to a wider trend across Wall Street of enabling employees to build their own tools despite not having a background in tech. Empowering people to build their own tools and apps to streamline their work seems great on paper. Read more about how Man Group teaches non-tech workers programming skills that help them save time.
☆ Jim Cramer's top 6 things to watch in the stock market Monday
  + stars: | 2023-05-08 | by ( Jim Cramer | ) www.cnbc.com   time to read: +3 min
As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
☆ Warren Buffett's Berkshire Hathaway just hosted its legendary annual investor weekend. Here's what to know.
  + stars: | 2023-05-08 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +4 min
Before we get to the news, we've got a dispatch from Theron — our in-house Warren Buffett expert — on the legendary conference. That's how Todd Finkle, the author of a new biography on Buffett, described the investor's yearly bash. There were also investment panels, cocktail parties, steak dinners, fun runs, and shopping events during the weekend. The stock market could become "untouchable" if the bank crisis keeps spiraling. Four of the world's top investors agree on the biggest risks that will cause the next recession.
☆ Warren Buffett says AI is like the creation of the atom bomb — he often calls nuclear war his biggest fear
  + stars: | 2023-05-07 | by ( Ryan Hogg | ) www.businessinsider.com   time to read: +3 min
Warren Buffett compared AI to the creation of the atom bomb at Berkshire Hathaway's annual meeting. Buffett has long spoken about his fears around nuclear war keeping him up at night. Warren Buffett compared artificial intelligence to the creation of the atom bomb, becoming the latest high-profile business figure to express alarm about the rapid advancement of the technology. "We did invent for very, very good reason, the atom bomb. And, World War Two, it was enormously important that we did so.
☆ Berkshire's Ajit Jain says Geico is 'taking the bull by the horns' to improve telematics
  + stars: | 2023-05-06 | 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 EmailBerkshire's Ajit Jain says Geico is 'taking the bull by the horns' to improve telematicsBerkshire Hathaway Chairman and CEO Warren Buffett and Vice Chairman Charlie Munger preside over the 2023 Berkshire Hathaway annual meeting. Ajit Jain, vice chairman of Berkshire Hathaway's insurance operations and Greg Abel, vice chairman for non-insurance operations at Berkshire Hathaway discuss GEICO.
☆ The best wit and wisdom from Warren Buffett and Charlie Munger at Berkshire Hathaway's annual meeting
  + stars: | 2023-05-06 | by ( Alex Harring | ) www.cnbc.com   time to read: +1 min
Shareholders watch Warren Buffett and Charlie Munger from the overflow room during the Berkshire Hathaway annual meeting on Saturday, May 6, 2023, in Omaha, Neb. Berkshire Hathaway 's annual shareholder meeting on Saturday included dozens of questions spanning topics such as investing strategy, artificial intelligence and politics for the legendary investors at the helm of the conglomerate: Chairman Warren Buffett and Vice Chairman Charlie MungerBut it wasn't all strictly business. Buffett and Munger — who are 92 and 99 years old, respectively — cracked jokes and shared wisdom from decades in the investing world throughout the more than five hours spent answering questions. Tens of thousands congregated at the CHI Health Center in Omaha, Nebraska were left laughing on multiple occasions by quips from the nonagenarians. Here's some of the best moments from the "Oracle of Omaha" and Munger:
☆ Tech investor Ann Winblad discusses A.I. advances, Apple and more from 2023 Berkshire meeting
  + stars: | 2023-05-06 | 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 EmailTech investor Ann Winblad discusses A.I. advances, Apple and more from 2023 Berkshire meetingAnn Winblad, co-founder of Hummer Winblad, speaks with CNBC during the lunch break of Berkshire Hathaway's 2023 annual shareholders meeting. She discusses comments from Warren Buffett and Charlie Munger on advances in the A.I.
☆ Warren Buffett breaks down Berkshire operating earnings as cash hoard tops $130 billion
  + stars: | 2023-05-06 | 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 EmailWarren Buffett breaks down Berkshire operating earnings as cash hoard tops $130 billionBerkshire Hathaway Chairman and CEO Warren Buffett and Vice Chairman Charlie Munger preside over the 2023 Berkshire Hathaway annual meeting. Buffett goes over Berkshire Hathaway's earnings and balance sheet.
☆ Warren Buffett on Apple stake: Apple is a better business than any other we own
  + stars: | 2023-05-06 | 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 EmailWarren Buffett on Apple stake: Apple is a better business than any other we ownBerkshire Hathaway Chairman and CEO Warren Buffett and Vice Chairman Charlie Munger preside over the 2023 Berkshire Hathaway annual meeting. The two discuss Apple's weight in Berkshire Hathaway's portfolio.
☆ Buffett explains value investing: 'What gives you opportunities is other people doing dumb things'
  + stars: | 2023-05-06 | by ( Fred Imbert | ) www.cnbc.com   time to read: +2 min
Warren Buffett on Saturday boiled down value investing, the strategy that has helped him amass his wealth, in one sentence. "What gives you opportunities is other people doing dumb things," the "Oracle of Omaha" said at Berkshire Hathaway 's annual shareholder's meeting. And while Buffett acknowledges that the world is changing, he thinks value investing opportunities abound. "In the 58 years we've been running Berkshire, I would say there's been a great increase in the number people doing dumb things, and they do big dumb things," he said. Despite Munger's more downbeat outlook for value investing, Buffett thinks opportunities will present themselves to value investors given the short-term view of so many people in today's society.
☆ Follow Warren Buffett's comments and all the action at Berkshire Hathaway's annual meeting: Live updates
  + stars: | 2023-05-06 | by ( Christina Cheddar Berk | ) www.cnbc.com   time to read: +1 min
Watch the 2023 Berkshire Hathaway annual shareholders meeting via CNBC's livestream in English or Mandarin or read about it here throughout the day. The CHI Health Center in Omaha, Nebraska, is welcoming tens of thousands for Berkshire Hathaway 's annual meeting on Saturday. The main event begins on Saturday when Chairman and CEO Warren Buffett and Vice Chairman Charlie Munger take the stage at 10:15 a.m. If previous gatherings are any guide, there will be a lively conversation about a wide range of topics. To prepare viewers for the main event, CNBC will begin its coverage at 9:45 a.m.
☆ Warren Buffett names his favorite stock, comments on other Berkshire Hathaway holdings at annual meeting
  + stars: | 2023-05-06 | by ( Hakyung Kim | Https | Www.Linkedin.Com In Hakyungkim | ) www.cnbc.com   time to read: +3 min
Berkshire Hathaway Chairman and CEO Warren Buffett gave Apple glowing reviews during Berkshire Hathaway's annual shareholders meeting Saturday. To be sure, Buffett clarified Berkshire doesn't have 35% of its holdings in Apple — as a questioner incorrectly believed. Bank of America Bank of America is Berkshire's sole bank holding, and Buffett said he plans to stick with it. "I think Microsoft has been remarkably willing to cooperate with governing bodies. But if it doesn't go through, I don't think it's through any shortcoming by Microsoft or Activision.
☆ Berkshire Hathaway's operating earnings increase 12% in the first quarter, cash hoard tops $130 billion
  + stars: | 2023-05-06 | by ( Fred Imbert | ) www.cnbc.com   time to read: +2 min
Earnings for Warren Buffett's Berkshire Hathaway jumped in the first quarter, thanks in part to a rebound in the conglomerate's insurance business. Operating earnings, which encompass profits from the conglomerate's fully-owned businesses, totaled $8.065 billion in the first quarter. Profit from insurance underwriting came in at $911 million, up sharply from $167 million a year prior. The auto insurer suffered a $1.9 billion pretax underwriting loss last year as it lost market share to competitor Progressive. Berkshire's cash hoard swelled to $130.616 billion from $128 billion in the fourth quarter of 2022.
☆ Invest like Buffett: How to pick winners like Warren
  + stars: | 2023-05-05 | 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 EmailInvest like Buffett: How to pick winners like WarrenThe 'Fast Money' group talks Berkshire Hathaway's top holdings and how to trade them as the Berkshire Hathaway annual meeting kicks off in Omaha.
☆ Berkshire Hathaway lead director Susan Decker reveals her top priorities on the board
  + stars: | 2023-05-05 | 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 EmailBerkshire Hathaway lead director Susan Decker reveals her top priorities on the boardRaftr CEO Susan Decker joins 'Squawk Box' to discuss her role as Berkshire Hathaway's lead director and board member, the impact of A.I. on tech, and more.
☆ Berkshire Hathaway's annual meeting is here: What to expect from Warren Buffett and Charlie Munger
  + stars: | 2023-05-05 | by ( Yun Li | ) www.cnbc.com   time to read: +7 min
Warren Buffett is set to kick off Berkshire Hathaway 's annual shareholder meeting Saturday before tens of thousands of adoring shareholders. Berkshire's annual "Woodstock for Capitalists" will be held in Omaha, Nebraska, the second straight in-person gathering after two virtual meetings during the pandemic. The question of Buffett's Activision stake is expected to come up at the annual meeting. Geico Berkshire shareholders will also be eager to learn more about what's next for auto insurer Geico , the crown jewel of Berkshire's insurance empire and Buffett's "favorite child." ESG issues There are a few ESG-related shareholder proposals being put to a vote at the annual meeting, including requiring Berkshire to publish an annual assessment of climate-related risks and publish data on its workforce composition by gender, race, and ethnicity.
☆ 7 stocks that fit Warren Buffett's buying criteria ahead of Berkshire's annual meeting
  + stars: | 2023-05-05 | by ( Michelle Fox | ) www.cnbc.com   time to read: +3 min
When Warren Buffett takes the stage at Berkshire Hathaway's annual meeting in Omaha on Saturday, he'll have a lot to talk about. He also prefers those that have demonstrated consistent earnings power, as well as good returns on equity. If Buffett were looking to add a tech name as a Berkshire subsidiary, there are three that fit his criteria — Monolithic Power Systems , Teradyne and Paycom Software . Monolithic Power Systems is near the top end of his range with its $22 billion market cap. MPWR YTD mountain Monolithic Power Systems Monolithic reported a first-quarter earnings and revenue beat on Friday.
☆ 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.
☆ 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.
☆ An ex-fire commissioner is accused of spraying bear mace on homeless people minding their own business on San Francisco's streets
  + stars: | 2023-04-27 | by ( Matthew Loh | ) www.businessinsider.com   time to read: +5 min
A former fire commissioner is accused of approaching homeless people and spraying them with bear mace. Don Carmignani initially said he was attacked by a homeless man, Garrett Doty, with a lead pipe. Doty was arrested in connection with the attack, and faces assault and battery charges brought by the San Francisco district attorney's office. Another video from November 2021 shows an unidentified person spraying bear mace at a homeless person sleeping on the street. Colla, the San Francisco Public Defender's Office, and the San Francisco district attorney's office did not immediately respond to Insider's requests for comment sent outside regular business hours.
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