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,...
- Berkshire Avoids Rout As Buffett Sidesteps Bonds
Warren Buffett’s preference for buying stocks and whole companies rather than bonds is helping Berkshire Hathaway Inc. (BRK/A) weather a spike in interest rates better than other insurers. Book value rose 2 percent to about $122,900 per Class A share...
- Buffett Deputies Join Heinz Board As Lynnn Swann Departs
Thanks to Will for passing this along. Gregory Abel and Tracy Britt, two of Warren Buffett’s deputies who have been adding responsibilities at Berkshire Hathaway Inc. (BRK/A), were selected by the billionaire to join him as directors of HJ Heinz Co....
- A Rising Star Emerges At Berkshire
When Tracy Britt arrived in Omaha, Neb., in 2009 to meet with Warren Buffett, she brought a Harvard M.B.A., a glittering resume and a boatload of ambition. But she also brought the famed investor a gift to highlight their shared Midwestern roots: a bushel...
- Goldman Sachs’s Trott Tells Jury Of Buffett Deal Secrecy
Byron Trott on the September 2008 Berkshire/Goldman deal. I guess it is also a good example of Warren Buffett sticking to his commitments and doing what he says he’ll do. Even if there are billions of dollars on the line, he promised the grandkids ice...
Money and Finance
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 banks will not get this country in trouble, I guarantee it,” Buffett, chairman and chief executive officer of Omaha, Nebraska-based Berkshire Hathaway Inc. (BRK/A), said in a phone interview last week. “The capital ratios are huge, the excesses on the asset side have been largely cleared out.”
Lenders including Bank of America Corp. (BAC) and Citigroup Inc. (C) have sold assets, cut jobs and bolstered balance sheets after repaying taxpayer bailouts from 2008, when the companies were overwhelmed by losses on securities tied to the housing market. Those actions helped boost financial stocks last year and increased the value of Berkshire’s holdings.
Buffett’s firm has investments in at least four of the seven biggest U.S. lenders by assets, including a stake of more than $14 billion in San Francisco-based Wells Fargo & Co. (WFC), $5 billion in Bank of America and warrants that allow it to buy $5 billion of Goldman Sachs Group Inc. shares. Berkshire also has a holding in U.S. Bancorp.
“Our banking system is in the best shape in recent memory,” Buffett said.
- 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,...
- Berkshire Avoids Rout As Buffett Sidesteps Bonds
Warren Buffett’s preference for buying stocks and whole companies rather than bonds is helping Berkshire Hathaway Inc. (BRK/A) weather a spike in interest rates better than other insurers. Book value rose 2 percent to about $122,900 per Class A share...
- Buffett Deputies Join Heinz Board As Lynnn Swann Departs
Thanks to Will for passing this along. Gregory Abel and Tracy Britt, two of Warren Buffett’s deputies who have been adding responsibilities at Berkshire Hathaway Inc. (BRK/A), were selected by the billionaire to join him as directors of HJ Heinz Co....
- A Rising Star Emerges At Berkshire
When Tracy Britt arrived in Omaha, Neb., in 2009 to meet with Warren Buffett, she brought a Harvard M.B.A., a glittering resume and a boatload of ambition. But she also brought the famed investor a gift to highlight their shared Midwestern roots: a bushel...
- Goldman Sachs’s Trott Tells Jury Of Buffett Deal Secrecy
Byron Trott on the September 2008 Berkshire/Goldman deal. I guess it is also a good example of Warren Buffett sticking to his commitments and doing what he says he’ll do. Even if there are billions of dollars on the line, he promised the grandkids ice...