Money and Finance
- Berkshire Hathaway Takes $3.7 Billion Stake In Exxon Mobil
Warren Buffett's conglomerate Berkshire Hathaway owned a stake of about 40 million shares in oil major Exxon Mobil as of the end of September, according to an SEC filing on Thursday. Based on the most recently available holdings data, that would be...
- Buffett Says Banks Cleared Of Excess Risk Pose No Threat To U.s.
Thanks to Will for passing this along. Warren Buffett, the billionaire investor who oversees stakes in some of the largest U.S. banks, said the nation’s lenders have rebuilt capital to the point where they no longer pose a threat to the economy. “The...
- Berkshire Hathaway Buys Back $1.2 Billion Of Class A Stock
With the share repurchase ceiling increased to 120% of book value, Berkshire can now buy back A shares up to a little over $134,000 per share, and B shares up to a little over $89 per share. Berkshire Hathaway Inc (BRK-A) spent $1.2 billion buying back...
- Tom Russo Barron's Interview
Found via Canadian Value Investing. When it comes to industries like tobacco, beer, and spirits, few investors are better versed than Thomas Russo. A partner at Gardner Russo & Gardner in Lancaster, Pa., Russo manages $5 billion, including the $500...
- Buffett Rules Out Double-dip Recession Amid Growth
Warren Buffett ruled out a second recession in the U.S. and said businesses owned by his Berkshire Hathaway Inc. are growing.“I am a huge bull on this country,” Buffett, Berkshire’s chief executive officer, said today in remarks to the Montana Economic...
Money and Finance
Berkshire Profit Benefits From Shift to Rail, Utilities
Warren Buffett’s shift toward businesses like railroads and power production that provide steady profits is paying off for his Berkshire Hathaway Inc.
Earnings from Burlington Northern Santa Fe and MidAmerican Energy Holdings accounted for $1.46 billion, or 40 percent, of operating income in the third quarter, Omaha, Nebraska-based Berkshire said in a Nov. 1 regulatory filing. The two businesses have generated at least 30 percent of profit every year since 2010, when BNSF was acquired.
The railroad and utility are “the bond-like underpinning” of earnings, said Tom Russo, a partner at Lancaster, Pennsylvania-based Gardner Russo & Gardner who oversees more than $7 billion, including Berkshire shares.
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“People’s expectations should not be that returns are going to be as good as they have been, because there’s so much capital to put to work,” said Cook, who oversees about $295 million, including Berkshire shares. “That’s not a change in Buffett’s skill. It’s a change in the capital base.”
Investing in the railroad and utilities also may have an element of “estate planning,” Russo said. Predictable profits will be helpful in ensuring payouts to the foundations to which the billionaire CEO is leaving almost all his wealth and a boon to his eventual successor, the Berkshire investor said.
Buffett is “starting to play more toward the middle of the tennis court,” Russo said. “The model is changing.”
- Berkshire Hathaway Takes $3.7 Billion Stake In Exxon Mobil
Warren Buffett's conglomerate Berkshire Hathaway owned a stake of about 40 million shares in oil major Exxon Mobil as of the end of September, according to an SEC filing on Thursday. Based on the most recently available holdings data, that would be...
- Buffett Says Banks Cleared Of Excess Risk Pose No Threat To U.s.
Thanks to Will for passing this along. Warren Buffett, the billionaire investor who oversees stakes in some of the largest U.S. banks, said the nation’s lenders have rebuilt capital to the point where they no longer pose a threat to the economy. “The...
- Berkshire Hathaway Buys Back $1.2 Billion Of Class A Stock
With the share repurchase ceiling increased to 120% of book value, Berkshire can now buy back A shares up to a little over $134,000 per share, and B shares up to a little over $89 per share. Berkshire Hathaway Inc (BRK-A) spent $1.2 billion buying back...
- Tom Russo Barron's Interview
Found via Canadian Value Investing. When it comes to industries like tobacco, beer, and spirits, few investors are better versed than Thomas Russo. A partner at Gardner Russo & Gardner in Lancaster, Pa., Russo manages $5 billion, including the $500...
- Buffett Rules Out Double-dip Recession Amid Growth
Warren Buffett ruled out a second recession in the U.S. and said businesses owned by his Berkshire Hathaway Inc. are growing.“I am a huge bull on this country,” Buffett, Berkshire’s chief executive officer, said today in remarks to the Montana Economic...