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Warren Buffett's annual letter to the shareholders of Berkshire Hathaway, and the entire financial world, will be released later today (Friday, March 3) around 4:30pm ET. We'll also get Berkshire Hathaway's fourth quarter earnings report. That's going to be a lot of conversation starters for Buffett's live appearance on CNBC's Squawk Box Monday morning (6am ET) with Becky Quick. (Buffett will also be answering many of the email questions you've been submitting to us.)
Warren Buffett asked our Becky Quick to poll the CNBC audience to see what you predict...
Warren Buffett will respond to some of your email questions about his annual letter to Berkshire shareholders this coming Monday morning, March 3, live from Omaha, exclusively on CNBC's Squawk Box. Here's how you can send us a question that might be answered by the Oracle himself.
In a live on-set interview during today's Closing Bell on CNBC, MBIA's new CEO Jay Brown told us he's "comfortable" going up against Warren Buffett's new bond insurance company, although he acknowledges that Berkshire Hathaway can be "tough" competition. In response to a question about Buffett "going after" his business, Brown suggested Buffett might not be in it for the long haul.
Four former executives of Berkshire Hathaway's General Re have just been found guilty in a closely watched criminal fraud trial that could have brought Warren Buffett to the witness stand. A former executive of American International Group was also convicted by the jury, following a one-month federal court trial in Hartford, Connecticut.
Warren Buffett's new bond insurance company has backed more than 100 municipal bonds in the past two days, according to Reuters, which calls it a "development that shows just how fast the new unit is growing in a field where rivals are struggling."
Kraft Foods rallied by 6.9 percent to close at $31.33, the day after Warren Buffett's Berkshire Hathaway revealed it has accumulated an 8.6 percent stake in the company, becoming Kraft's largest shareholder. That's the biggest one-day percentage gain ever for Kraft, which began trading on the NYSE in 2001.
As the financial world continues to furiously debate Warren Buffett's offer to reinsure billions of dollars worth of municipal bonds, shares of Buffett's holding company continue to recover from their January low. Berkshire Hathaway closed today (Wednesday) at $143,980 each, up $4280, just over 3%, on the day. It's the first close above $140K this year and a two-month high for the stock.
This morning on CNBC's Squawk Box, Warren Buffett publicly revealed for the first time that he has offered to reinsure $800 billion in municipal bonds now covered by the troubled insurers MBIA, Ambac and FGIC. Here is a video and transcript of the second part of this morning's live phone conversation, which also includes Buffett's comment that stocks are in the "general range of fair value" right now.
This morning on CNBC's Squawk Box, Warren Buffett publicly revealed for the first time that he has offered to reinsure $800 billion in municipal bonds now covered by the troubled insurers MBIA, Ambac and FGIC. That would effectively give those bonds a AAA credit rating. So far, he says one insurer has turned him down and he hasn't heard from the other two. Here is a transcript of the first part of this morning's live phone conversation.
Warren Buffett tells Fox Business that Berkshire Hathaway won't be investing in any troubled bond insurer, including Ambac and MBIA
Warren Buffett tells CNBC this morning that he has a plan to help the troubled bond insurance situation, but so far it's not getting a very warm reception.In a live telephone call to Squawk Box just a few minutes ago, Buffett offered to reinsure $800 billion in municipal bonds now insured by Ambac, MBIA and FGIC, effectively giving them a AAA credit rating. Those insurers are in danger of losing their AAA credit ratings due to problems with subprime mortgages and other loans.Buffett tells us he sent that offer to the bond insurers last week, and that he's giving them 30 days to find a better deal. Buffett says one bond insurer turned him down, and he hasn't yet heard from the other two.
Warren Buffett will be calling into CNBC's Squawk Box tomorrow (Tuesday, February 12) morning during the 8am ET hour for a First on CNBC live telephone interview with Becky Quick and the rest of the Squawk team. Buffett will be discussing the bond insurance situation.
Warren Buffett answered questions for almost 90 minutes yesterday during his appearance in Toronto to promote Business Wire's expansion into Canada. We focused on his credit, dollar and economy comments, but he made a lot of other news as well, including a revelation to Canada's National Post newspaper that he made "several hundred million dollars" owning the Canadian dollar, then sold, and now wishes he had kept his holdings in the Loonie.
Warren Buffett appears today (Wednesday, February 6) at 4p ET at an event in Toronto for "investor relations and corporate communications professionals" designed to draw attention to Business Wire's expansion into Canada. While the event is not open to the general public, with the assistance of Business Wire, CNBC.com's Warren Buffett Watch plans to carry live audio of Buffett's appearance.
Standard and Poor's has just released the results of its twice-a-year stock screen, designed to find Warren Buffett-style stocks. The new list features several tech stocks, including Apple, as well as a number of names from Europe and Asia. But some key Buffett criteria aren't taken into account by the screen.
Shares of Burlington Northern Santa Fe have soared by more than 15 percent since Warren Buffett's Berkshire Hathaway completed a string of almost daily stock purchases in mid-January.
A group of state insurance regulators says it's working with Warren Buffett's Berkshire Hathaway on a single "streamlined" application for licenses to sell bond insurance in all 50 states. But even if Berkshire does get all those licenses, and it probably will, that doesn't necessarily mean Warren Buffett & Co. will be actually writing bond insurance policies in every state right away.
Warren Buffett's daily Burlington buys continue. Berkshire Hathaway has bought Burlington Northern Santa Fe shares on 11 of the 12 trading days through last Tuesday, January 22. The latest purchase is the smallest in the recent series and was made at the lowest price.
Berkshire Hathaway is getting a big piece of Swiss Re's insurance action as the world's largest reinsurer hooks up with Warren Buffett in what one analyst calls "an odd coupling." The deal appears to show Buffett is confident of better times to come for reinsurers.