Warren Buffett

HenryTo · Posted: Thu Feb 07, 2008 11:18 am Post subject: Warren Buffett

Latest interview - with an emphasis on the current "credit crunch" and the fact that he is still very bullish on the U.S. economy:

http://www.financialpost.com/creditcrunch/story.html?id=290358

diesel · Posted: Thu Nov 20, 2008 4:14 am Post subject:

http://www.forbes.com/2008/11/19/warren-buffett-berkshire-biz-wall-cx_lm_1118buffett.html?feed=rss_popstories

HenryTo · Posted: Mon Oct 20, 2008 7:09 pm Post subject:

Interview with the author of Buffett's authorized biography, Alice Schroeder:

http://www.cnn.com/2008/POLITICS/10/17/schroeder.buffett/index.html

rffrydr · Posted: Sun Oct 12, 2008 11:19 pm Post subject:

I like to play the fool and knock Buffett, mainly for his "premium." He's certainly cashing in on that now, in the form of his own "name brand." One element of trading he stands nearly alone, his simplest yet hardest to follow advice: buy and hold.

He's crafty (selling more than a few things under the guise of buying something else) but he really understands how to buy in countercycles. He knows how to stay quiet in the good times and swing a big stick in bad. More than anything he understands the advantage of time, saying that if the stock market were closed for a year it wouldn't bother him.
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rffrydr · Posted: Tue Oct 07, 2008 9:57 pm Post subject:

One hour with Charlie Rose:

http://www.charlierose.com/shows/2008/10/1/1/an-exclusive-conversation-with-warren-buffett
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Today is the Tomorrow you worried about Yesterday!

rffrydr · Posted: Sun Sep 28, 2008 8:53 pm Post subject:

Interesting.....tending to his "brand."

Smart, buys into China electric car: market's next leader, alternative energy/auto? We def. need a new focus and going into this "bailout" with $105crude he's got his eye on the ball:

http://www.marketwatch.com/news/story/berkshire-powers-electric-cars-buy/story.aspx?guid=%7BA0737406%2D0BEC%2D4527%2D84CB%2D8EEA08BD1792%7D

Follows Senate alt-energy Solar bill....

That's the spirit. And another move:

http://www.cnbc.com/id/26923114/for/cnbc/
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Today is the Tomorrow you worried about Yesterday!

diesel · Posted: Sun Sep 28, 2008 7:46 pm Post subject:

Review of Buffetts new biography on Bloomberg.

http://www.bloomberg.com/apps/news?pid=20601088&sid=aCmmWSeMvksA&refer=home

HenryTo · Posted: Wed Sep 24, 2008 7:17 am Post subject:

Buffett on the $700 billion "bailout":

http://www.bloomberg.com/apps/news?pid=20601087&sid=a8B.QQmw5A8M&refer=home

HenryTo · Posted: Fri Sep 19, 2008 9:55 am Post subject:

Buffett swoops in and buys Constellation Energy:

http://www.baltimoresun.com/business/bal-buffett0918,0,1179530.story

rffrydr · Posted: Wed Sep 17, 2008 10:23 pm Post subject:

The other treasury bond:

http://www.bloomberg.com/apps/news?pid=20601109&sid=aXtt208CZGkE&refer=home
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Today is the Tomorrow you worried about Yesterday!

rffrydr · Posted: Mon Sep 15, 2008 10:21 am Post subject:

I said he'd make no more deals (hasn't made one more in Finance after monline action). AIG may make me liar.

[edit: no dice, no lie, just a rumour]
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Today is the Tomorrow you worried about Yesterday!

HenryTo · Posted: Fri Aug 22, 2008 11:35 am Post subject:

Buffett unwounds bearish bet against the US Dollar:
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Buffett sees economy weak until 2009
Friday August 22, 11:10 am ET
By Jonathan Stempel

NEW YORK (Reuters) - Warren Buffett said the economy is still in a recession and unlikely to improve before 2009 but that stocks appear better valued than a year ago.

The billionaire investor also said there is a "reasonable chance" shareholders of Fannie Mae (NYSE:FNM - News) and Freddie Mac (NYSE:FRE - News) may be wiped out in any government bailout of the mortgage financiers.

Speaking on Friday on CNBC television, Buffett said some housing-related businesses in his Berkshire Hathaway Inc (NYSE:BRK-A - News; NYSE:BRK-B - News) conglomerate are struggling as the economy works off past excess in making credit available.

"You always find out who's been swimming naked when the tide goes out. We found out that Wall Street has been kind of a nudist beach," said Buffett, who in March was called the world's richest person by Forbes magazine.

He also said Federal Reserve Chairman Ben Bernanke has no "magic wand" to boost an economy facing weak growth prospects, mounting inflation and deteriorating credit. "In my judgment it won't be any better five months from now," he said.

Buffett nevertheless said U.S. stocks are broadly "more attractive" than a year ago. He also said Berkshire has completely unwound a once $21 billion bet against the U.S. dollar, helping boost the greenback in Friday morning trade.

In May, Buffett said Berkshire still had a stake in one currency, the Brazilian real.

The Omaha, Nebraska-based company bought $3.98 billion of stock in other companies in the second quarter, and Buffett said it has added in recent months to its big stake in either American Express Co (NYSE:AXP - News) or Wells Fargo & Co (NYSE:WFC - News), but did not say which one.

Shares of both rose in early trading, as did major stock indexes.

Buffett reiterated his support for Barack Obama, the presumptive Democratic nominee, in November's U.S. presidential election, but admires Republican rival John McCain. "President Obama is going to have plenty on his plate in January," he said.

HOUSING EXPOSURE

Since 1965, Buffett has transformed Berkshire from a failing textile company into a $180 billion conglomerate.

Berkshire is best known for insurance holdings such as Geico and sells such products as ice cream and underwear.

But its 76 businesses also include housing-related units Acme bricks, Clayton manufactured homes, Shaw carpeting and the Home Services of America Inc real estate brokerage.

"What we're seeing in business, in our retail businesses, or anything having to do with housing, is even a further slowing down in June and July, both in terms of credit experience where people first got in trouble with house payments, and now credit card payments," Buffett said.

Some economists say a recession occurs when the economy contracts for two straight quarters. Buffett said it occurs when people are doing less well than before.

In morning trading on the New York Stock Exchange, Berkshire Class A shares rose $1,650 to $116,650, and its Class B shares rose $50 to $3,885. American Express shares rose $1.42 to $38.43, Wells Fargo rose 99 cents to $29.43.

The CNBC interview was tied to the national roll-out of the documentary "I.O.U.S.A.," which argues that the nation might face economic disaster if it doesn't curtail mounting debt.

Buffett is interviewed in the movie.

"THE GAME IS OVER"

Fannie and Freddie shares have plummeted as speculation grows about a government bailout of the companies, which own or guarantee almost half of U.S. mortgages. Shares of both have fallen more than 90 percent in the last year.

Buffett called them "too big to fail" and said "the game is over" for them as independent companies. "In a practical sense, as institutions, they don't have any net worth," he said.

Buffett said he has not been approached to assist in any bailout, which he said would be too big to come from the private sector. Though he said "nothing is going to happen" to investors in Fannie's and Freddie's insured mortgages or debt, but "the equity and preferred stock is another question."

Berkshire is trying to reduce the $31.16 billion of cash on its balance sheet, and Buffett said he is being approached by a growing number of "distressed" companies rather than viable takeover candidates.

Buffett said he recently tried to invest $500 million in a Chinese stock he declined to name, but was turned down.

He also said he erred in selling 61 percent of Berkshire's stake in Anheuser-Busch Cos (NYSE:BUD - News) for $61 to $62 per share, ahead of the U.S. brewer's July agreement to be taken over by Belgium's InBev NV (Brussels:INTB.BR - News) for $70 per share.

"It was about valuation and whether I thought the deal would go through," Buffett said. "In retrospect, I was wrong to decide to partially sell."

HenryTo · Posted: Mon Aug 11, 2008 10:07 am Post subject:

One of the most anticipated investing books will be released at the end of next month:
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Long-awaited Buffett book due out in September
Monday August 11, 11:03 am ET
Long-awaited book about billionaire investor Warren Buffett is due out in September

OMAHA, Neb. (AP) -- The first book about billionaire investor Warren Buffett that he cooperated with is due out next month.

The Bantam Dell Publishing Group says it plans to release Alice Schroeder's book on Sept. 29. It is tentatively titled "The Snowball: How Warren Buffett Collected Friends, Wisdom and Wealth."

Schroeder met Buffett when she worked as an insurance analyst at Morgan Stanley and wrote a report about Buffett's company, Berkshire Hathaway.

Buffett spent thousands of hours talking with Schroeder, and he gave her access to his files and friends.

Schroeder has been working on the book at least since 2005, when she signed the deal with Bantam Dell.

The book had originally been scheduled to be released before this year's Berkshire meeting in May, but the release was delayed until September.

HenryTo · Posted: Mon Aug 04, 2008 1:27 am Post subject:

Gurufocus.com holding a "guess what Warren Buffett bought last quarter" contest:

http://www.gurufocus.com/news.php?id=33315

rffrydr · Posted: Sat Jun 14, 2008 9:44 pm Post subject:

Wow. But, what a share that one share was.

I would have never have bought that one share in the first place. And I would have wrong. Very wrong. Coke keeps finding new ways to give (shipments up double digits all over as one of our dwindling labels sticks.
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Today is the Tomorrow you worried about Yesterday!

Odysseus · Posted: Sat Jun 14, 2008 1:12 pm Post subject:

Warren, Warren, Warren. How many times do I have to tell you NEVER average down. Didn't Solomon Bros. teach you anything?

Of course it you never sell, give away all your loot and die, who cares.

I'm not second guessing the boy. I sold my only share (purchased in 1974) two years ago when he bought that doublewide mfgr. Style shift will kill it in the end.
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