A fictional version of Warren Buffett assembles a "cadre" of "super-rich" billionaires to "fix" the U.S. government and return "power to the people," in a new book by political candidate and activist Ralph Nader.
It's 12 months later and Warren Buffett's Berkshire Hathaway is $3 billion richer. Exactly one year after Buffett stunned Wall Street with his massive vote of confidence for Goldman Sachs, his bold bet is producing gigantic profits.
Stocks rallied for a third day Wednesday, jumping more than 1 percent, as industrial production rose for a second straight month and weakness in the dollar boosted commodity and industrial stocks.
Stocks continued to rise Wednesday, after major indexes hit new highs for the year Tuesday, as oil prices topped $71 a barrel and industrial production rose for a second straight month.
Warren Buffett's interview with Becky Quick marking the one-year anniversary of the height of the financial crisis aired in two parts on CNBC this morning and last night. This is the transcript and video of the complete interview, including portions that did not air on TV in either part.
Wall Street looked set for a higher open Wednesday, after major indexes hit new highs for the year Tuesday, encouraged by Federal Reserve chairman Ben Bernanke's remarks that the US recession was probably over.
Warren Buffett tells CNBC that while the economy "hasn't gotten worse" but also hasn't "gotten much better" over the past three months, he doesn't expect a 'double-dip' recession and sees significant improvement in residential real estate.
Warren Buffett tells CNBC he has no regrets about any of the decisions he made over the weekend one year ago when the financial crisis was at its worst. In a taped interview with Squawk Box's Becky Quick airing tonight, Buffett says he "looked hard" at a telephoned offer that Friday night to buy AIG's property casualty operation for around $25 billion, but decided against it. He also recalls that he was approached to do a reinsurance deal that might have helped clear the way for a Barclay's rescue of Lehman, but it didn't come together.
Warren Buffett says he's buying stocks, but it's not because he thinks the recession is ending.
Shares of menswear manufacturer Dayang Trands soar in Shanghai after a state-run Chinese newspaper relays Warren Buffett's enthusiastic praise of the company and its business suits.
I was discussing the financial collapse with Clint Goodrich...I told him that Warren Buffett said, "When the tide goes out, you see who's been swimming naked." Goodrich rolled his eyes. Turns out, he thinks Buffett isn't much of an oracle. What?? Isn't that like saying Tiger Woods isn't much of a golfer??
Over the past several months, Warren Buffett has been consistently bearish on the short-term prospects for the U.S. economy. Is he still just as pessimistic now, even as consumer sentiment improves and economists talk about the recession coming to an end? CNBC's Becky Quick will ask him in an on-camera interview to mark the one-year anniversary of the height of the global financial crisis.
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.
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.
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.