Warren Buffett

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Buffett: 'I Didn't Cover Myself in Glory' in '08

(Newser) - So how do you replace an oracle? By splitting the job into pieces. Warren Buffett told a record gathering of 35,000 Berkshire Hathaway shareholders that he's got three internal candidates who could easily replace him as chief executive, the Financial Times reports. The 78-year-old also has four candidates to...

Buffett Reports $200M Drop, Blames Recession

(Newser) - Warren Buffett told Berkshire Hathaway shareholders today that the company's first-quarter earnings will fall to $1.7 billion from $1.9 billion last year, reports Bloomberg. At the annual meeting, Buffett said the recession “significantly to drastically affected” the company's bottom line. Full earnings details will be released Friday.

Buffett: US 'Doing the Right Things'

(Newser) - Warren Buffett said today the US government is taking the correct actions to help the economy recover. "The government is doing the right things," Buffett said before the opening of Berkshire Hathaway's annual shareholder meeting. "They're acting in a countercyclical manner." But he said he can't...

Financial 'Pearl Harbor' Is Past, Says Buffett

Oracle confident as he prepares to be buffeted by shareholders

(Newser) - The Oracle of Omaha still sees tough times ahead for the US economy, but he says he thinks the worst is in the past, CNCBC reports. “We’re at a war now to some degree, but Pearl Harbor was September,” Warren Buffett says. “There was a strike...

Moody's Downgrades Buffett
 Moody's Downgrades Buffett 
Apr 8, 2009 9:31 PM CDT

Moody's Downgrades Buffett

(Newser) - Warren Buffett's oracle aura took another hit today. Moody's downgraded his Berkshire Hathaway from its top Aaa rating to Aa2, citing "a severe decline in equity markets," the Wall Street Journal reports. The move follows a similar move by Fitch Ratings last month for Berkshire, whose shares are...

Gates No. 1 on Shrinking Billionaire List

(Newser) - This may not elicit much sympathy, but Forbes' annual list of billionaires has shrunk from 1,125 names to 793 this year. Bill Gates lost $18 billion but managed to regain the top spot from Warren Buffett, who lost $25 billion. Here's the top 10:
  • Gates, $40 billion
  • Buffett, $37
...

Economy Has 'Fallen Off a Cliff': Buffett

Billionaire investor sees recovery on far horizon, warns of inflation

(Newser) - Warren Buffett said today the US economy has “fallen off a cliff,” but guaranteed that 5 years from now “the machine will be running fine.” On CNBC, Buffett encouraged banks to “get back to banking,” saying they will have to earn their way out...

Buffett Has Worst Year Ever
 Buffett Has Worst Year Ever 
Feb 28, 2009 10:11 AM CST

Buffett Has Worst Year Ever

(Newser) - Not even legendary investors can escape this mess. Warren Buffett’s Berkshire Hathaway posted its worst year ever in 2008, the Wall Street Journal reports. A key indicator, book value per share, fell 9.6%, only the second loss since Buffett took control of the company in 1965. Berkshire reported...

Buffett Loans Billions to Swiss Re
Buffett Loans Billions to
Swiss Re
Feb 5, 2009 8:31 AM CST

Buffett Loans Billions to Swiss Re

Insurance giant turns to Omaha after heavy annual loss

(Newser) - Insurance giant Swiss Re has reported an annual loss of $860 million and will turn to Warren Buffett to retain its investment-grade rating, the Financial Times reports. The company will raise $2.58 billion, of which more than half will come from Berkshire Hathaway—leaving Buffett with more than 20%...

Told-On Buffett Cools Toward Tell-All Author

Billionaire not thrilled with messy details of warts-and-all bio

(Newser) - Billionaire Warren Buffett has canceled his annual public tête-à-tête with his biographer after the book they collaborated on left him with mixed feelings, reports the New York Times. For the past decade, the Oracle of Omaha has submitted to questions from Alice Schroeder during a huge dinner...

These 5 People Lost the Most This Year

Think your 401(k) has taken a hit? One tycoon has taken a $32B bath

(Newser) - Think you've taken a bath in the markets? Business Sheet compiles this year's five biggest losers:
  1. Warren Buffet Loss: $13.6 billion. Though he’s bought when others wouldn’t and come to the rescue of many (Goldman and GE, to start), losses dropped the famed investor’s liquid wealth
...

Brutal Market Doesn't Spare Buffett
Brutal Market
Doesn't
Spare Buffett
Nov 20, 2008 3:53 AM CST

Brutal Market Doesn't Spare Buffett

Berkshire Hathaway takes biggest dive in decades

(Newser) - The "Oracle of Omaha" is proving even he's not immune from market blows, reports Bloomberg. Warren Buffet's Berkshire Hathaway took a 12% nosedive yesterday, its biggest one-day fall since 1987's Black Monday. The conglomerate is down 41% for the year and has been dropping steadily for eight days after...

Obama, McCain Take Fight to Pages of Journal
Obama, McCain Take Fight
to Pages of Journal
OPINION
Nov 3, 2008 11:14 AM CST

Obama, McCain Take Fight to Pages of Journal

Rivals sounds familiar themes with columns in conservative newspaper

(Newser) - Barack Obama and John McCain are appearing together today on one battleground—the opinion pages of the conservative Wall Street Journal. Obama sticks almost exclusively with economics, mentioning the paper’s own reservations with McCain’s housing rescue plan. He’s also quick to remind readers in upper tax brackets...

Obama Donors Get to Hang With the Big Kids

Fundraisers with Kerry, Buffett kept the fat checks coming in

(Newser) - Barack Obama’s money machine has kept rolling thanks, in part, to a series of intimate fundraisers headlined by his top advisers, Politico reports. In exchange for a mere $28,500, Obama supporters could snag seats at a dinner with Warren Buffett or a “Round Table Discussion” with Robert...

Media Feeds Markets' Frenzy
 Media Feeds Markets' Frenzy 
OPINION
Oct 24, 2008 4:50 PM CDT

Media Feeds Markets' Frenzy

'Volatility news cycle' as bad for traders as it is for nervous investors

(Newser) - Is the media behind the rampant volatility gripping Wall Street? It can’t be helping, longtime observer Roger Ehrenberg writes for Information Arbitrage. CNBC, Fox Business, and others recycle countless talking heads, each with passionate and conflicting views. “Media is motivated to evoke a reaction,” Ehrenberg reasons, so...

Wall Street's Tumble Costs Buffett $9.6B

Top CEOs have taken a 28% hit in the value of their company holdings

(Newser) - Next time you check the value of your portfolio, know that America's top executives are taking a pounding with you: Berkshire Hathaway CEO Warren Buffett has seen his holdings in his company decline $9.6 billion this year, reports the Wall Street Journal. And he’s got company. Oracle’s...

Buffett: I'm Buying American. You Should Be, Too.

When fear is rampant, the markets discount America's future

(Newser) - “I’ve been buying American stocks,” Warren Buffett writes in the New York Times, and he'd like to see a stampede of others following suit. Sure, the financial system is a mess, global economies are faltering, unemployment is rising, and headlines will continue to terrorize markets. But markets...

Market Meltdown Reshapes Forbes Rich List

Buffett bumps Gates in redrawn rankings of world's wealthiest

(Newser) - The mortgage meltdown has certainly hit middle-class Americans hard but hasn't spared the uber-wealthy, Bloomberg reports. Las Vegas Sands CEO Sheldon Adelson’s net worth shed $4 billion between Aug. 29 and Oct. 1, for instance, while Warren Buffett overtook Bill Gates, whose net worth declined $1.5 billion, as...

Candidates Diverge on Picking the Next Paulson

McCain looks to big names; Obama seeks to sooth markets

(Newser) - The post of Treasury secretary may be the most important appointment the next president has to make and John McCain and Barack Obama seem to be using different criteria, Bloomberg reports. McCain has mentioned big names like billionaire investor Warren Buffett and former eBay CEO Meg Whitman, while insiders say...

In Crisis, Buffett Is Modern JP Morgan

'Oracle of Omaha' offers financial, psychological help to stressed America

(Newser) - Amid the financial panic of 1907, financier JP Morgan stepped in to play the role of central bank, crafting an economic rescue plan and using his personality to offer worried Americans a psychological boost. Today, Warren Buffett’s financial aid to Wall Street and calming influence on Main Street are...

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