Warren E. Buffett has a favorite saying: “Lose money for my firm, and I will be understanding. Lose a shred of reputation for the firm, and I will be ruthless.” But as speculation of insider trading swirls around Mr. Buffett’s onetime heir apparent, David L. Sokol, it has to be asked: Why hasn’t Mr. Buffett been ruthless?, reports the New York Times.
The gloves come off as Michael Steinhardt, chairman, WisdomTree Investments, makes known his true feelings about billionaire investor Warren Buffett, who he says has conned the press.
A look at the week's top stock picks and business news, including David Sokol's surprise resignation from Berkshire Hathaway, with CNBC's Mandy Drury.
The sudden resignation of David Sokol, widely considered by many to be the heir apparent to the 80-year old Warren Buffet, is clouded in controversy and perceived conflicts of interest. It has left investors shocked and confused. It has also highlighted the huge challenge facing Berkshire Hathaway – how to find the next Buffet. This task is clearly no easy pursuit.
This is a transcript of David Sokol's live, exclusive CNBC Squawk Box interview on Thursday, March 31, 2011. The outgoing Berkshire Hathaway executive, who resigned the night before, defended his purchase of shares in Lubrizol before recommending the company to Warren Buffett as a potential Berkshire acquisition.
Continuing conversation on fallout after David Sokol's explosive interview on Squawk Box this morning following his resignation from Berkshire Hathaway. Jim Morphy of Sullivan & Cromwell and Robert Spatt, of Simpson Thacher & Barlett weigh in.
The surprise resignation of leading Warren Buffett successor David Sokol, raised many unanswered questions on Thursday.
Discussing whether anyone can really succeed Warren Buffett, with Robert Miles, "The Warren Buffett CEO author, and Andrew Ross Sorkin, New York Times.
Repeatedly insisting that he did nothing wrong, David Sokol tells CNBC that looking back in light of widespread criticism, he still would have bought shares in Lubrizol, but wouldn't have told Warren Buffett anything about the company, including his belief that it would be a good acquisition for Berkshire Hathaway.
Fifteen hours after disclosing that heir apparent David Sokol would be leaving the firm (officially because he wanted to spend more time with his family, but most believe because Sokol had bought shares of Lubrizol before a deal to purchase the company was announced), there Mr. Sokol was, on Squawk Box, insisting he did nothing wrong.
This is a live blog of David Sokol's exclusive interview on CNBC's Squawk Box. He is discussing his surprise resignation and the revelation that he personally bought shares in Lubrizol before recommending to Warren Buffett that Berkshire Hathaway buy the company.
David Sokol, former Berkshire Hathaway executive, tells CNBC why he left the company and plans to start his own "mini-Berkshire Hathaway." Sokol says Buffett did not try to talk him out of resigning this time. This is the full interview with CNBC's Becky Quick.
In an "unusual", to say the least news release tonight, Warren Buffett announced the sudden resignation of David Sokol, the Berkshire Hathaway executive who had been widely expected to eventually succeed him as Berkshire's CEO.
CNBC's Becky Quick offers an update to David Sokol's sudden exit, particularly since he was seen as a potential heir apparent to Warren Buffet. Some of Sokol's trading activity in Lubrizol, executed prior to Berkshire's offer, may have had something to do with his decision. Andrew Ross Sorkin, NY Times; Tom Curran, attorney with Peckar & Abramson; Jeff Matthews, Ram Partners; and James Altucher, Formula Capital, discuss what they believe may have happened.
If shares of Berkshire Hathaway sell-off more than 1% in the wake of recent developments top hedge fund manager Whitney Tilson says the stock is a buy.
Anne Hathaway and Warren Buffet have recently been linked in the media—though not romantically, thank god.
Warren Buffett told CNBC Thursday that the collapse of the euro zone's single currency is far from "unthinkable." "I know some people think it's unthinkable...I don't think its unthinkable," Buffett said.
CNBC's Becky Quick has the highlights from billionaire investor Warren Buffett's trip to India.
See what's happening, who's talking and what will be making headlines on Wednesday's Squawk on the Street.
CNBC's Becky Quick goes along on Warren Buffett's tour of India, which he is visiting for the first time, and where he is kicking off a new car insurance venture.