It's Talking Squawk, the official "Squawk Box" blog, this week with Bill Miller on bitcoin, a truce between eBay and Carl Icahn, and Sam Zell on taxes.» Read More
Over the last 42 years, he's navigated bull and bear markets, building the best investment track record of all time. And amid this week's market turmoil, the Oracle of Omaha released some words of wisdom. He's buying stocks! Want to know which ones? CNBC's Dylan Ratigan found out where one of the richest men in the world is putting his money.
Searching for nuggets of wisdom from the Oracle of Omaha.
The Dow Jones Industrials closed at another record high as positive momentum trumped a weak manufacturing report. "The markets are floating on a sea of liquidity, but the real driver of this market is the increasing risk appetite of investors." Jeffrey Saut, Chief Investment Strategist at Raymond James, told CNBC.com.
Billionaire Warren Buffett's holding company Berkshire Hathaway revealed Wednesday that it bought $774.3 million in U.S. Bancorp stock last year, adding to the bank holdings already in the company's $52.8 billion stock portfolio.
Stocks in the U.S. are seeking direction and are looking mostly higher in mixed action ahead of the open. Earnings news from big names like Intel and J.P. Morgan are making headlines, and the markets are watching for PPI inflation data this morning and the Fed's Beige Book at 2 pm. Oil slumped below $51 a barrel this morning after a deep slide yesterday.
Wells Fargo and U.S. Bancorp, the fifth- and sixth-largest U.S. banks, reported higher quarterly profits, helped by growth in business lending and fee-generating units.
The Minneapolis-based bank said net income rose to $1.19 billion, or 66 cents a share, from $1.14 billion, or 62 cents a share, a year ago.
Investments that provide income versus growth will likely become more important to many people as the nation's population ages over the next 5 to 20 years.