The General Re unit of Warren Buffett's Berkshire Hathaway on Friday named longtime reinsurance executive Kara Raiguel as its new CEO. » Read More
Lehman Brothers moves closer to taking center stage in the crisis, but storm clouds also build over AIG and Washington Mutual.
Warren Buffett is one of twenty-seven business, government, and academic leaders endorsing what's described as a "bold call to end the focus on value-destroying short-termism" in financial markets. A new statement from the Aspen Institute argues that shareholders are playing a key role by pushing corporations for short-term stock price gains at the expense of long-term sustainability.
A recent court ruling that forced two ratings companies to defend fraud claims is a "game-changer" for the industry, said David Einhorn, head of Greenlight Capital.
Stock prices steadied at modestly higher levels as Wall Street staked a rally on rising prices of gold and oil. Weakness in the U.S. dollar helped propel commodities broadly as gold jumped above $1,000 an ounce but was retreating as noon approached. Crude oil reclaimed the $70 a barrel mark. In the meantime, the dollar hit its lowest level in nearly a year against a basket of currencies. Read and listen to what the pros had to say...
This is the text of an article on Warren Buffett's response to the financial crisis, published in the New York Times on Tuesday, September 8, 2009.
Warren Buffett always says he loves to go to work each day, and the global financial crisis has done nothing to damper that enthusiasm for his job. Buffett tells the New York Times that all the "drama" has made for an "incredibly interesting period in the last year and a half."
Warren Buffett's Berkshire Hathaway sold almost 800-thousand shares of Moody's this week, reducing its stake in the credit rating agency slightly to 16.6 percent from 17.0 percent just over a month ago. But Moody's stock slide yesterday could discourage Buffett from pulling the trigger on more sales in the very near-term.
Shares of Chinese electric-car maker BYD rallied 8 percent in Hong Kong trading today (Monday), finishing at an all-time closing of HK$48.60. The buying was apparently sparked by news wire headlines quoting BYD's chairman as saying Warren Buffett "wants" or "intends" to raise Berkshire Hathaway's 10 percent stake in the company. That interest, however, may not be new and doesn't necessarily mean Buffett will be able to buy more shares from BYD.
New York hedge fund manager John Paulson has replaced Warren Buffett as the nation's most influential investor, in the opinion of three of tonight's Fast Money traders. It's too early to know if Paulson really will be seen as the "Warren Buffett of our lifetime," as one of those traders boldly puts it, but his star is shining very brightly right now on Wall Street.
Stocks continued to rise on Tuesday after encouraging reports on home prices and consumer confidence. The Treasury auctioned off $42 billion in 2-year notes today, and it was met with mediocre demand. Pres. Obama officially reappointed Ben Bernanke for another term as Fed chairman. Watch and listen to what the pros had to say...
Warren Buffett hasn't spoken out publicly today, but we assume he's happy with President Barack Obama's announcement this morning that Ben Bernanke will be nominated for a second term as Federal Reserve Chairman. Despite his concerns the government's efforts to revive the economy over the last year will probably lead to serious inflation down the road, Buffett has repeatedly endorsed Bernanke's performance at the Fed, calling him the best person for the job.
Warren Buffett makes no secret of his love for hamburgers and Cherry Cokes, steaks and hash browns, topped off with a root beer float. Most vegetables? No, thanks. But Buffett says his "bad" eating habits aren't as absolutely awful as everyone thinks.
Many investors are anticipating a major market pullback—so when will it happen and how should you strategize? Dave Rovelli, managing director of Canaccord Adams, and Peter Costa, president of Empire Executions, shared their market outlooks.
Stocks held onto gains on Thursday after a slew of economic data, including an encouraging report on manufacturing. Additionally, Chinese stocks, which had dragged down global markets earlier this week, rebounded 4.5 percent. US stocks had initially opened lower, after a surprise jump in jobless claims. Read and listen to what the pros had to say...
Warren Buffett is back with a new piece in the New York Times, but today he's not using the high-profile platform to explicitly urge us all to buy stocks as he did last October. But there's still a big "buy" recommendation implicit in the dollar doomsday scenario he lays out in his latest op-ed.
What should investors do in this volatile market? Managing directors Charles Crane at Douglass Winthrop Advisors and Lawrence Glazer at Mayflower Advisors shared their market outlooks.
The financial crisis is going to "haunt us for a long period of time" and secular, non-traditional headwinds are going to act as a governor to economic growth and stock market performance, said Doug Kass, founder and president of Seabreeze Partners Management.
China's stock market crashed before the economy's slowdown last year, and it rose before the strong recovery earlier this year. So does the current selloff presage fresh economic troubles? Art Cashin, director of floor operations at UBS Financial Services, offered CNBC his stock-market insights.
Stocks skidded Friday after a disappointing report on consumer prices and as consumers' mood took a turn for the worse. There was one bright spot on the economic front: Industrial production rose 0.5 percent in June, the first increase in nine months, offering fresh evidence that that the recession is winding down. Read and listen to what the experts had to say...
Warren Buffett's Berkshire Hathaway was doing more selling than buying of stocks during the second quarter, but there is one new holding: New Jersey-based medical technology company Becton Dickinson. Berkshire also added to its stake in Johnson & Johnson, although the holdings are still well below where they were before Buffett sold over 33 million shares last fall.