After discussions with the SEC, Berkshire Hathaway records half a billion dollars of unrealized losses for two stock holdings, even though it believes it will eventually make money on the positions and is willing to wait.
This is a transcript of Warren Buffett's live interview, his first since this weekend's Berkshire Hathaway shareholders meeting, on CNBC's Squawk Box on Monday, May 2, 2011. He discussed his reaction to the death of Osama Bin Laden, the state of the U.S. economy, and the continued fallout from the David Sokol scandal.
Insight on what the death of Osama bin Laden means for American investing, and future growth of Berkshire Hathaway, with Mike Holland, Holland & Company chairman and Robert Miles, "The Warren Buffett CEO" author.
Warren Buffett, Berkshire Hathaway chairman & CEO discussing shareholder's meeting; Sokol' s deception, and the direction of the economy.
See what's happening, who's talking and what will be making headlines on Monday's "Squawk on the Street."
Warren Buffett tells CNBC that he "felt good" when he first heard that the United States had killed Osama Bin Laden. In a live interview this morning on Squawk Box following the Berkshire Hathaway shareholders meeting, Buffett says he's always had faith in the country to accomplish anything.
Berkshire Hathaway chairman Warren Buffett and Jack Welch, former GE CEO, share their reaction to Osama Bin Laden's death and look back at how the events of September 11th moved them and the markets.
Record-breaking gold tries to keep pace with silver in a busy week that begins with Buffett's burden and drumrolls towards Jobs Friday. Here's what we're watching.
Warren Buffett tells CNBC that he should have been more critical of David Sokol in the news release he wrote a month ago announcing the Berkshire executive's surprise resignation. In a taped interview with our Becky Quick after facing hours of questioning from Berkshire Hathaway shareholders today in Omaha, Buffett says, "I wouldn't have written the press release that way."
Warren Buffett tells shareholders that Berkshire Hathaway is currently looking at two potential acquisitions that would be roughly as large as its $9 billion deal, composed entirely of cash, for Lubrizol earlier this month. But underlining his extreme aversion to financing purchases with stock or selling an existing business to raise cash, Buffett says, "We can't do a really big elephant now and we won't stretch."
Warren Buffett says if Congress fails to raise the U.S. debt limit, it would be its "most asinine act" ever. But he told shareholders today there's "no chance" lawmakers will fail to do so, despite "waste of time" debates on Capitol Hill.
Warren Buffett says he's not joining the gold rush that has sent the commodity to record highs above $1500 an ounce. He thinks the only thing you can do with the metal is "fondle" it. He also says Berkshire has been out of the foreign exchange markets lately and probably won't be making another big currency bet.
Warren Buffett tells shareholders he made a "big mistake" when he didn't ask David Sokol for more details on his Lubrizol holdings. Calling Sokol's actions "inexplicable and inexcusable," Buffett says he'll never understand why Sokol didn't fully disclose he had recently bought shares in a company he then recommended as a Berkshire acquisition.
Warren Buffett tells shareholders for the first time in nine years, Berkshire Hathaway will "likely have an insurance underwriting loss this year."
Billionaire investor and Berkshire-Hathaway founder Warren Buffett talks to Becky about the economy, David Sokol and his outlook for the future.
Mario Gabelli, a Berkshire shareholder for 25 years, he said he is not concerned about short-term issues such as the ethical conduct of departed heir-apparent David Sokol but does want to know where Warren Buffett will spend the company's money next.
Warren Buffett promises to answer all questions about the David Sokol scandal, and there will certainly be plenty of them tomorrow as roughly 40-thousand Berkshire Hathaway shareholders gather in Omaha. But Buffett tells us he doesn't expect a "different" tone at the meeting and predicts a lot of shareholders will concentrate on "Berkshire and its prospects."
Warren Buffett tells CNBC that Federal Reserve Chairman Ben Bernanke is a "very, very smart man." Even so, Buffett says, "I still worry about inflation."
Investors flock to Omaha for Berkshire Hathaway's annual meeting. CNBC's Becky Quick has the story.
A look ahead of Warren Buffett's investor meeting tomorrow, Mario Gabelli, GAMCO Investors chairman/CEO.