Just minutes after this morning's announcement that Berkshire Hathaway is paying $26 billion to acquire the 77 percent of Burlington Northern Santa Fe it doesn't already own, Warren Buffett spoke live by phone with Becky Quick and Joe Kernen on CNBC's Squawk Box. This is the complete transcript of their conversation.
The markets traded to the downside on Tuesday despite Warren Buffett's big Burlington Northern bet this morning. What's taking us lower and where can you put money to work?
Warren Buffett's surprise Burlington Northern acquisition is justifiably getting a lot of attention today, but there may also be a sliver of news on his reading of the current state of the economy. Instead of exactly repeating his recent statements that there's been no "bounce" for Berkshire Hathaway's businesses, today he tells CNBC "they might be doing just a tick better."
Warren Buffett tells CNBC his $26 billion acquisition of Burlington Northern Santa Fe is a "bet on the country." Berkshire Hathaway surprised the financial world this morning with word it is buying the roughly 77% of Burlington Northern shares it doesn't already own for a combination of cash and Berkshire Hathaway shares.
On Tuesday, Warren Buffett's Berkshire Hathaway announced that it will allow its Class B shareholders to vote on a 50-for-1 stock split that has already been approved by the board.
While the Burlington Northern deal is getting a lot of attention, it has not brought pre-open trading in the S&P futures into positive territory yet. Risk aversion has become a more prominent theme since last Wednesday, when the S&P 500 dropped below its 50-day moving average for the first time since July.
Warren Buffett's Berkshire Hathaway unloaded just over one million more shares of Moody's last week after the credit rating agency's stock price rebounded to the mid-$20s.
Warren Buffett has come out ahead of Pimco's Bill Gross as the world's best investor, according to a poll of Bloomberg terminal subscribers.
Warren Buffett and Bill Gates will be the 'Big Men on Campus' next month when they go to Columbia Business School to answer questions from the "next generation of business leaders" .. and CNBC's cameras will be there. We've just announced that a one-hour special town hall event, Warren Buffett and Bill Gates: Keeping America Great, will air Thursday, November 12 at 9p and 12a ET.
The man who's widely seen as most likely to succeed Warren Buffett as Berkshire Hathaway's CEO continues to deflect that speculation, telling CNBC "the last 18 months may have been Warren Buffett's most successful period."
Warren Buffett tells the BBC the American public can't be blamed for its anger over the damaging economic fallout from the last fall's near-collapse of the global financial system, especially since no one has been held criminally responsible. The comments are from an interview for a special program about Buffett airing tonight (Monday) on BBC television in the U.K.
Warren Buffett doesn't look at Wall Street as "evil," but he does believe both "carrot" and "stick" incentives are needed to make sure people "behave well" while they are trying to get rich.
Warren Buffett says we've seen "enormous progress since a year ago" on the economy, but he's not making any specific predictions about what might happen in the next quarter or two. The comments were made in an interview conducted last month, and released today, to promote a new web site from Business Wire, a Berkshire Hathaway subsidiary.
McDonald's is scheduled to report before the bell tomorrow. While it has beaten EPS expectations 6 of the past 7 quarters, it has missed revenue expectations in the past three quarters according to First Call data. Before then, it beat revenue targets for 4 straight quarters.
One year ago, even though the financial world was "a mess" and would probably get messier, Warren Buffett wrote in the New York Times that he was buying U.S. stocks to lock in a "slice of America's future at a marked-down price." One year later, the benchmark S&P 500 is 14.9 percent higher than it was the night before Buffett's "Buy American" op-ed was published. But that's beside the point.
Rail and intermodal company, CSX is scheduled to report after the bell today. While it has beaten EPS expectations 3 of the past 4 quarters, it has missed revenue expectations in the past three quarters according to First Call data. Before then, it beat revenue targets for 5 straight quarters.
Warren Buffett's warrants to buy almost 135 million General Electric common shares are still worthless, as they have been for almost the entire time since Berkshire Hathaway's $3 billion investment in the company was announced exactly one year ago today. That's in sharp contrast to Buffett's Goldman Sachs warrants, now worth about $3 billion. But the primary motivation for both deals, a 10 percent annual return on a total of $8 billion in loans to the two company, is still paying off handsomely.
Warren Buffett tops the list of the biggest losers among America's richest billionaires, with an estimated $10 billion drop in his personal wealth over the past twelve months. That's the result of Berkshire Hathaway's 20 percent stock decline. But Buffett's remaining $40 billion is still enough to maintain his number two ranking on the annual Forbes 400 ranking of the country's wealthiest people.
"Is it too late for me to invest in Berkshire Hathaway class B shares since they have run up so much already?" That's the question from a reader that USA Today's Matt Krantz tackles in his daily column this morning.
Kraft CEO Irene Rosenfeld has promised employees she won't let "animal spirits" take over as the company pursues its proposed acquisition of Cadbury. That's the phrase Warren Buffett used in a CNBC interview last week as he said Kraft's $16.4 billion stock offer is a "full price."