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Just weeks after closing at an all-time high in mid-December, shares of Warren Buffett's holding company Berkshire Hathaway are falling deeper into 'correction' territory. Berkshire ended today's trading at $126,400 each. That's down more than 15 percent from the December 10 record closing high of $149,200. Is Berkshire now a bargain?
Warren Buffett's stake in Burlington Northern Santa Fe is approaching 18 percent after Berkshire Hathaway paid close to $74 million for nearly a million shares on Monday and Tuesday of this week.
Berkshire Hathaway's stock has ended 2007 with its biggest annual percentage gain since 1998. Shares in Warren Buffett's holding company closed just a few minutes ago at $141,600. That's an increase of 28.7 percent from 2006's close of $109,990. Berkshire shares haven't done better in any calendar year since 1998, when they soared 52.2 percent. Check out the 31-year scorecard.
The furniture rental subsidiary of Warren Buffett's Berkshire Hathaway is expanding into the United Kingdom. Cort, "the leading furniture provider in the 'rent-to-rent' industry in the United States," says it is buying England's Roomservice Group, which describes itself as "the UK's leading furnishing solutions provider." The price is not included in the release.
After ending 2007 with a gain of almost 29%, their best year since 1998, shares of Warren Buffett's Berkshire Hathaway have been showing some weakness in the New Year. Today's "Ahead of the Tape" column in The Wall Street Journal has an idea about what's pulling down BRK.
Warren Buffett's Berkshire Hathaway reveals in an SEC filing today that it has bought almost 30,000 additional shares of the freight railroad Burlington Northern Santa Fe. While this most recent purchase is relatively small, it is Buffett's first Burlington buy since October.
Warren Buffett's brand-new municipal bond insurer, Berkshire Hathaway Assurance Corporation, has sold its first coverage, backing a $10 million bond issued by New York City yesterday. Ajit Jain, who runs Berkshire's insurance businesses, tells the New York Times, "We're tip-toeing into the market, doing very small deals. We want to see if we can get the pricing that we find acceptable to us. Once we find this is real, we'll put in a lot more capital." He also describes how a call from a New York regulator played a key role.
The man who oversees the insurance operations for Warren Buffett's Berkshire Hathaway tells CNBC that Berkshire is talking with troubled bond insurers like MBIA and Ambac about a possible partnership or purchase, although it doesn't sound like anything major is imminent. Ajit Jain's comment came in response to a question from Erin Burnett in a live interview on CNBC's Street Signs about why Berkshire chose to "build" its own bond insurer rather than buy an existing company like Ambac or MBIA.
A criminal corporate fraud trial that could bring Warren Buffett to the witness stand for some tough questioning is now underway in a federal courthouse in Hartford, Connecticut. Emphasis on could. Here's why I have my doubts.
A federal judge overseeing the trial of four former executives at the General Re unit of Berkshire Hathaway said the reinsurer need not turn over some documents involving Berkshire Chairman Warren Buffett.
I'm on vacation until January 10th, but, in my absence, please ponder this image of Warren Buffett. Maybe it'll make you smarter in 2008. Goodness knows I'm hoping it'll make me smarter. In fact, I suggest you click on this blog daily while I'm away, not because it will help you, but because it will help me.
Prosecutors may not call Berkshire Hathaway Chairman Warren Buffett as a witness in a criminal trial of former officers of its General Re reinsurance unit, according to a court filing.
Warren Buffett Watch's year-end countdown of the top 10 trends and events of the year continues with #5 to #1, including some year-end surprises.
In a live interview this morning on CNBC's Squawk Box, Warren Buffett called his purchase of a big Marmon stake as a "bet on America over a long time." He also revealed that while he has been approached by financials companies about buying a stake, "we have not seen a deal that causes me to start salivating." Here is a video clip and transcript of the complete interview.
Warren Buffett is finally moving to make some money from the nation's credit crisis by starting a new company that will insure debt issued by state and local governments. To make sure that he does indeed make money from the venture, he's promising not to make the same mistakes that have caused so many problems for long-time insurers like Ambac and MBIA: charging too little and taking on too much risk.
Video clip and transcript of Warren Buffett's opening statement before the Senate Finance Committee holding a hearing on estate taxes.
During the first stop of his Asian mini-tour, Warren Buffett told reporters that he doubts he'll find a new investment in China right now to replace his recently sold PetroChina stake because stock prices have gone up so dramatically in recent months.
Warren Buffett's Berkshire Hathaway cut back on its holdings in two railroads during the second quarter of this year. Even as Berkshire was increasing its stake in Burlington Northern, it was cutting back on two other railroads: Norfolk Southern and Union Pacific.
Don't count out Warren Buffett. Even as he enters his 78th year, the Buffett style of investing remains as relevant and successful as ever. In keeping with the year-end tradition of journalists everywhere, it's time to look back at 2007: The Year in Warren. Here, in reverse order, are #10 through #6 of the top 10 trends and events of the year, as reported here on Warren Buffett Watch.
Berkshire snaps up the Dutch bank's reinsurance company, NRG, for $435.2 million, while Citi and HSBC are reportedly also interested in shedding parts of their businesses.