Warren Buffett calls today's meeting in Beijing with 50 Chinese business and philanthropy leaders a "tremendous success" as he and Bill Gates "learned a great deal about the good work that is already underway" in China.
Warren Buffett tells CNBC that any decision by Berkshire Hathaway to buy a bigger stake in China's BYD "would depend on the price." He made the comment in an airborne interview with CNBC's Becky Quick, who is traveling in China with Buffett, Bill Gates, and a delegation of Berkshire officials.
Warren Buffett's Billionaires' Road Trip has spent the day in Shenzhen, but most of the attention is going to a dinner to be hosted tomorrow night in Beijing by Buffett and Bill Gates.
Warren Buffett and his traveling companions started their visit to China earlier today in Shenzhen with a show of support for electric-car maker BYD. Berkshire Hathaway owns a 10 percent stake in the company.
With 776 million illiterate adults in the world, and nearly three billion people that lack access to basic financial services, staring down global poverty can feel a little like standing at the base of Mt. Everest.But there is some good news.
Warren Buffett's backing gave Chinese battery and automaking tycoon Wang Chuanfu a huge boost, and on paper represents at least a six-fold return on the investment.
If anyone is as scorned as much as Democrats these days, it's Republicans — the very party that may recapture the House of Representatives and perhaps the Senate in November's midterm congressional elections.
This is a transcript of Warren Buffett's complete interview with CNBC's Becky Quick on Wednesday, September 22, 2010. Portions of their conversation aired today (Thursday) on Squawk Box.
Warren Buffett tells CNBC he doesn't buy the argument that raising taxes for the rich would derail the nation's economic recovery. "When a country needs more income, and we do -- we're only taking in 15 percent of GDP ... they should get it from the people that have it."
Warren Buffett tells CNBC that the "normal regenerative capacity of American capitalism" will play a much bigger role in the country's emergence from recession than the government's stimulus of the economy. While he acknowledges that while it is "important" to have the "right" fiscal and monetary policies, "We have had many recessions in the history of this country when nobody even heard of fiscal policy or monetary policy. The country always comes back."
Warren Buffett tells CNBC that by his own "common sense" definition, the United States is "still in a recession." In a taped interview airing this morning on CNBC's Squawk Box, Buffett says, "I think we're in a recession until real per capita GDP gets back to where it was before." While Buffett continues to believe the U.S. will eventually emerge from its economic downturn, "We're not gonna be out of it for awhile."
Warren Buffett keeps his #2 slot on the new Forbes 400 list of the Richest Americans, released tonight (Wednesday). The magazine estimates Buffett's fortune at $45 billion. That's $5 billion more than last year's $40 billion.
Warren Buffett's Berkshire Hathaway has resumed sales of Moody's shares as the credit rating agency's stock price tops $25.
Charlie Munger, Berkshire Hathaway's vice chairman, said the job market is likely to stay "lousy" for an extended period, and that he doesn't see anything that would prompt employers to hire in the immediate future.
Warren Buffett doesn't appear to be concerned that slowing U.S. economic growth will lead to a "double-dip" recession, saying there's no evidence of "sour" sentiment in the latest results from Berkshire Hathaway's numerous operating businesses. "I am a huge bull on this country. We are not going to have a double-dip recession at all. I see our businesses coming back across the board."
"I am a huge bull on this country. We are not going to have a double-dip recession at all," said Buffett, chairman of Berkshire Hathaway. "I see our businesses coming back across the board."
Warren Buffett and Bill Gates will reportedly travel to China later this month to "learn how to do philanthropy" in that nation. China's Economic Observer newspaper says Gates and Buffett have invited a "select group" of 50 to 60 members of the nation's "business elite" to a "private party" in Beijing. Some of those invited, however, have declined to attend, apparently over concerns they'd be asked, or even pressured, to make a donation pledge at the event.
As he closes in on 80 years old, Buffett shows no signs of slowing down and Berkshire has announced no successor, although the matter is one of endless debate. It is too early to say what his legacy will be.
Shares of Wesco Financial spiked as much as 19 percent higher today (Thursday) after Warren Buffett's Berkshire Hathaway revealed plans to buy the almost 20 percent of Charlie Munger's Wesco it doesn't already own.
The low-profile 73-year-old man whose stellar stock picks are often attributed to Warren Buffett is calling it quits. In her Chicago Tribune column, Melissa Harris breaks the big news that media-shy Lou Simpson will retire at the end of the year. For decades, he's been quietly, independently, and profitably managing the now $4 billion investment portfolio at Geico, the Berkshire Hathaway insurance subsidiary