Warren Buffett was ranked #5 by Vanity Fair last week in its annual list of powerful people. Today, Mr. Buffett's holding company sits at number one in the third annual Barron's ranking of the world's most respected companies.
Berkshire Hathaway moves from #5 on list year's Barron's list, replacing Johnson & Johnson which held top honors a year ago. (Two years ago, CNBC.com parent General Electric was on top.)
Barron's says its survey is the "only ranking of corporate reputation based exclusively on the views of proessional investors." And those investors' comments were "unanimously reverential, their tone suggesting such reverence should be obvious to all."
The magazine notes that "Buffett's longtime unease about the vulnerability of the U.S. dollar and the risks of financial derivatives proved more than prescient in light of this year's turmoil in the subprime-mortgage market and the financial markets generally." The fact that Berkshire's Class A shares are up 25% over the past year doesn't hurt, either.
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