Alex Crippen is senior coordinating producer at CNBC.com. He started with CNBC television in 1990. Crippen began his media career in affiliate TV and news radio. He holds a degree in economics from Wesleyan University.
In what may be a "vote of confidence" in Kraft Foods' turnaround strategy, Warren Buffett's Berkshire Hathaway has acquired a "small stake" in the company, according to the Wall Street Journal. The paper quotes a "person familiar with Berkshire's share purchase" as saying it represents less than 5% of Kraft's $55 billion market capitalization.
Just one day after a Wall Street Journal report that Warren Buffett is buying shares of Kraft Foods, we get word today that he's sold a small slice of his stake in PetroChina, the big Chinese oil company. The AP reports there's "no indication whether he was responding to demands by activists to cut his ties to the company due to its investments in Sudan." But the very small size of the sale, about 17 million shares worth just $27 million, would appear to make it a slight adjustment rather than any kind of message.
One of the most respected investors in the world of bonds is going on record supporting higher taxes for the nation's super-wealthy, echoing Warren Buffett's controversial call to 'Tax the Rich.' In his most recent market letter, Pimco's Bill Gross comes out strongly in favor of raising taxes on the super-rich to "rectify today’s imbalances."
We have a lot more Warren Buffett on the CNBC.com site. Check out All About Buffett which includes our special report The Billionaire Next Door featuring some fascinating in-depth conversations Buffett taped in Omaha with our own resident Buffett-expert Liz Claman. You can also see a slideshow from CNBC's The Big Idea with Donny Deutsch: My Dad is Warren Buffett in which Howard, Susie and Peter Buffett share family snapshots. You can also get the latest quote and lots of other data about Buffett's Berkshire Hathaway in CNBC.com's stock tools section.
There's a long tradition on Wall Street of asking whether Warren Buffett has peaked. During the Nasdaq run-up around Y2K, he was called "extinct" for staying out of tech stocks because he didn't understand how they made money. Even now, you see references to him possibly losing his "edge." Flashback to 1988, when Buffett bought a lot of Coca-Cola stock, even after it had gained almost 20% a year for eight years. Wall Street thought he was "crazy." There are valuable lessons to be learned by looking back to see why he wasn't.
Hovnanian shares have come down from their high of almost $19 Friday, after getting a late-week boost from lots of speculation Warren Buffett might be interested in buying the beaten-back homebuilder as a value play. Sham Gad, a fan of Buffett's, writes on Motley Fool today that while he has no idea if Buffett really is interested in Hovnanian, it's still worthwhile to do your own Buffett-style analysis to see if the supposed target might be a good buy.
Business Week has just released its list of the "biggest brains" in investing .. and no surprise .. Warren Buffett makes the cut. (I think we all would have been surprised if he hadn't.) What can Buffett and the rest of the top 10 teach the rest of us?
Warren Buffett's political life is getting more attention. Today, the Associated Press has a piece on how he "may have to apply his legendary stock-picking skills" in the race for the White House. As was pointed out when he hosted a fundraiser for Hillary Clinton, Buffett hasn't rushed to make an endorsement, praising both Clinton and Barack Obama as excellent Presidential material. He's even talked up a potential Michael Bloomberg-Arnold Schwarzenegger ticket: "That would be one hell of a team, wouldn't it?"
Shares of the beleaguered home builder Hovnanian are up sharply today amid rumors that Warren Buffett's Berkshire Hathaway is buying a stake in the company. Optionmonster.com founder and frequent Fast Money player Jon Najarian is quoted as saying, "There is talk that Warren Buffett is buying a stake in Hovnanian." But our own Bob Pisani at the NYSE points out that one would expect to hear this kind of rumor on a slow Friday in July.
This is an unofficial transcript of all three hours of Warren Buffett's live appearance on CNBC's "Squawk Box" on Monday.
In a live interview on CNBC's "Squawk Box," Warren Buffett said he would keep buying stocks even if he knew a major war was coming.
Five key lessons for investors offered by Warren Buffett during his three-hour appearance Monday on CNBC's "Squawk Box."
In a rare public appearance, Berkshire portfolio manager Ted Weschler explains why he likes a particular health-care stock.