Warren Buffett's Berkshire Hathaway reports $1.532 billion in derivatives gains during its second quarter, contributing to an overall net profit of $3.295 billion dollars for the quarter, or $2,123 per class A share. It's a return to profitability for Berkshire, after reporting a $1.5 billion net loss in this year's first quarter.
Stock market gains in April, May, and June, will energize second quarter net earnings from Warren Buffett's Berkshire Hathaway when the numbers are released after the stock market closes today. That will be a sharp contrast from recent quarters when market losses depressed Berkshire's net numbers and its stock price.
The man who had already been widely seen as the leading candidate to be the "next" Warren Buffett has put a little more space between him and the rest of the pack, but probably doesn't have the job sewn up just yet. Buffett's selection of David Sokol to be interim CEO of a Berkshire Hathaway subsidiary is being interpreted as an additional vote of confidence in Sokol's management abilities, making it even more likely he will eventually succeed Buffett as Berkshire's CEO. But that doesn't necessarily mean he has the job sewn up.
The man who created the company that pioneered time-shares for corporate jets in 1986 is stepping down as chief of the Berkshire Hathaway subsidiary. NetJets Chairman and CEO Richard Santulli says in a news release late today that he's leaving immediately to "spend more time with my young family and pursue other interests." While Santulli has been mentioned as a possible successor to Buffett as Berkshire's CEO, he is not generally seen as one of the handful of leading candidates.
Shares of Warren Buffett's Berkshire Hathaway rallied above $100,000 today (Monday) for the first time since early January.
Warren Buffett's bet on a Chinese electric car company is generating sparks. Bloomberg notes that Berkshire Hathaway's stake of almost 10 percent in BYD has soared in value by about $1 billion since it was first announced last fall. The purchase was completed today at the September price after the China Securities Regulatory Commission gave its approval for the deal
The 'cartoon' Warren Buffett sounds a lot like the 'real' Warren Buffett, and it's not just because they share the same voice. Listen as the animated version of Omaha's billionaire uses three words never before heard in a cartoon for kids.
Warren Buffett's Berkshire Hathaway has rallied to a 6-month closing high, with help from the overall stock market's gains. Today's 1.9 percent gain puts Berkshire's Class A shares at $95,300 each. That's just above their May 8 closing high of $95,295 and the best finish since January 13. Berkshire is up 5.3 percent on the week.
Warren Buffett appeared live on CNBC's Squawk Box this morning to promote a new online animated series called the Secret Millionaire's Club in which he teaches kids about finance and investing. Buffett told us that stocks are still a better investment than cash investments, like Treasuries, even though the Dow has recently rallied to its highs of the year over 9000. This is a transcript of the CNBC interview.
Warren Buffett tells CNBC that the economy still isn't showing any signs of life but that doesn't mean investors should stay away from stocks. In a live interview this morning Buffett says "business is still flat." But he notes that doesn't mean he's negative on stocks, predicting the market will revive before the economy does.
Warren Buffett will appear live on CNBC's Squawk Box this morning (Friday) at 8:30a ET to explain why he's getting even more animated than usual. We'll also ask him about the economy and financial markets. Buffett will speak to us in the first of a series of promotional interviews for a new online animated series called Secret Millionaire's Club.
Warren Buffett's Berkshire Hathaway has cut its stake in Moody's by 16.6 percent, reducing its exposure to the beleaguered credit rating agency by selling almost eight million shares over three days.
Shares of Berkshire Hathaway gained 6.0 percent this week, their best showing since early March when Warren Buffett's company bounced off its lows for a 14.2 percent surge.
Warren Buffett's Berkshire Hathaway reportedly made a secret, but unsuccessful, $1.7 billion cash offer for Bermuda-based reinsurer IPC Holdings earlier this month. Bloomberg reports Berkshire is the mysterious 'Party M' mentioned in a regulatory filing. This try didn't work out, but there could be more efforts by Berkshire to take advantage of opportunities in reinsurance created by the global recession.
Warren Buffett's retreat from "volatile" catastrophic property damage reinsurance gets a spotlight in today's (Monday) Wall Street Journal.
Barron's is taking a strong bullish stand on shares of Warren Buffett's Berkshire Hathaway, calling them a "bargain" in the mid-$80Ks. A price target of $110,000 in the next year "doesn't seem outlandish" given its current price to book ratio.
Last Friday, the closely-watched University of Michigan consumer confidence survey registered a disappointing reading of 64.6, when hopes had been for a 70 or so. But maybe it shouldn't have been a surprise, figuring that, during the month, energy prices were high (since reversed, of course), the stock market was struggling, and unemployment continued to rise.
Warren Buffett isn't shy about giving advice. If he hadn't gone into the investing business, he could well have made teaching his profession. Now that he's the world's greatest living investor, there are plenty of pupils anxious to attend class. Today, ABC's Good Morning America featured several Buffett lessons.
Warren Buffett spoke tonight (Thursday) on tape with CNBC's Julia Boorstin at Herb Allen's Sun Valley media conference. He remains pessimistic about the economy's short-term prospects, saying the latest number from his Berkshire Hathaway companies show that consumer spending remains very weak. This is a video clip and transcript of Julia's entire conversation with Buffett.
Warren Buffett is prescribing some serious medicine to remedy the economy. And it could be a bitter pill for many to swallow.