Posts Tagged: berkshire hathaway

 

 

 

If you invest in the stock market you’re almost 100% certain to have heard of Warren Buffett. Indeed, you’ve probably read books about him, or you might have read his annual shareholder letter, or even been to the spectacle that is the Berkshire Hathaway annual shareholders meeting.

Now’s your chance to watch an interesting documentary that offers an intimate look at the life of Warren Buffett. The documentary offers an eye opening view of how he runs the company (complete with a tour of his office), the annual shareholders meeting of Berkshire Hathaway, and a peak at his many eccentricities.

Of course the film also reviews how he made his money, how he operates, how he came to operate in the way he does, and how he thinks about his wealth which is in the tens of billions of dollars.

CNBC cheerleaders- Must Read

25 March 2014 - 10:30 am
 

Small investors are in danger of getting screwed, thanks to big activists, their Twitter accounts and the business media that cover them, says Doug Kass of Seabreeze Partners.

This summer, activists such as Carl Icahn, Dan Loeb and Bill Ackman have been hogging the financial headlines and brawling over stocks such as Dell, Apple, Sony, JCPenney and Herbalife, mostly to their own benefit.

Kass tells On the Money he’s concerned we’re headed back to the go-go days of 2006-07, when business-news outlets helped pump stocks and the media failed to provide a check on the market that small investors needed.

CNBC contributor Kass, who attended Warren Buffett’s recent gabfest to throw a few curveballs at Berkshire Hathaway, casts his net wide and says we’re all guilty.

He was particularly irked about the reporting surrounding Icahn’s Apple position, which helped push up the stock, and he was disappointed by outsize coverage of Omega Advisors’ 31,000-share Apple buy this quarter.

“My criticism is of the entire media business. The reason I point this out is because the small investor piles in when Apple is up 10 percent. It’s caveat emptor, but the poor lemmings pay top dollar.”

Kass went so far as to email CNBC’s “Halftime Report” host, Scott Wapner, who’s been in the thick of things, to complain about the coverage. >> Read More

 

POSCO’s (005940.KS) new chief executive said the steelmaker will shy away from expanding manufacturing capacity for the time being, and raise cash by selling non-core assets and by listing some affiliates – a marked break with the strategy set by his predecessor.

“I will take the bold step of shedding non-core businesses,” Kwon Oh-joon told an annual meeting of POSCO shareholders on his first day on the job.

“POSCO will not pursue fresh investments aimed at quantitative growth, and instead focus on downstream investments aiming at boosting value,” he said in a separate statement, noting that the global steel market is suffering from serious oversupply.

His predecessor, Chung Joon-yang, who led POSCO for five years, spearheaded investments and acquisitions that left the steel giant with high debt levels, leading to a series of rating cuts by credit rating agencies. >> Read More

 

A Record 1,645 Billionaires Made the 2014 List of the World’s Richest People with an Aggregate Net Worth of $6.4 Trillion, Up from $5.4 Trillion Last Year

Bill Gates Topped the List With the #1 Spot; Gates Has Been #1 for 15 of the last 20 Years

Bill Gates (#1) was back on top as the world’s richest person on Forbes’ 28th annual ranking of the world’s billionaires after a four-year hiatus; Gates has topped the list for 15 of the last 20 years. With a net worth of $76 billion, up from $67 billion in 2013, the technology guru moved up on the list by one slot this year.  Gates beat out telecom mogul Carlos Slim Helu (#2), who had maintained the #1 spot for the past four consecutive years but lost $1 billion of his net worth, now valued at $72 billion.  Spanish clothing retailer Amancio Ortega (best known for the Zara fashion chain) maintained his #3 spot from 2013, but increased his net worth $7 billion for a total of $64 billion, ahead of Warren Buffett (#4)with a net worth of $58.2 billion.  American gambling tycoon Sheldon Adelson (#8), increased his net worth by $11.5 billion, and made it back into the top ten for the first time since 2007. >> Read More

Warren Buffett: Markets are like sex

26 February 2014 - 23:29 pm
 

There’s nothing like getting a big bang for your buck, and no one knows that more than billionaire investor Warren Buffett.

The 83-year-old founder of Berkshire Hathaway, whose investments have consistently beaten the stock market over the past 50 years, shared a few tips in this year’s annual letter to shareholders, including comparing the stock market with sex.

Mr Buffett said new investors tend to buy shares when the markets are rising and optimism is high, only to get disillusioned when prices fall.

Quoting the late money manager Barton Biggs, whose attention to emerging markets in the 1980s marked him as one of the world’s first and foremost global investment strategists, Mr Buffett added: “A bull market is like sex. It feels best just before it ends.”

He advised investors to “keep things simple” by “accumulating shares over a long period, and never sell when the news is bad and stocks are well off their highs”.

 

Berkshire Hathaway will no longer let high frequency trading firms license content from the news wire company it owns, Business Wire.

 Cathy Baron Tamraz, Chairwoman and CEO of Business Wire announced that the firm came to the decision in conjunction with Berkshire Hathaway after a Wall Street Journal article cited Business Wire as one of the news sources high frequency traders can pay to get information seconds ahead of other investors.

From WSJ:

The traders are getting news releases from Business Wire, which distributes corporate-earnings releases and economic reports such as the Philadelphia Federal Reserve’s monthly manufacturing survey, and from Marketwired, a Toronto company that distributes earnings releases and the ADP monthly employment report.

The article, written by Scott Patterson, went on to say that while these practices aren’t illegal, they do give high speed traders an unfair edge. >> Read More

 

Billionaire investor Warren Buffett has teamed up with America’s fourth largest mortgage lender to offer one person $1bn if he or she can predict the winner of every game in this year’s men’s college basketball championship tournament.

The winner of the competition can choose to have the $1bn prize paid in 40 annual installments of $25m or receive an immediate $500m lump sum.

“We’ve seen a lot of contests offering a million dollars for putting together a good bracket [picking the winners], which got us thinking, what is the perfect bracket worth? We decided a billion dollars seems right for such an impressive feat,” said Jay Farner, president of mortgage lender Quicken Loans.

“It is our mission to create amazing experiences for our clients. This contest, with the possibility of creating a billionaire, definitely fits that bill.” >> Read More

 

Fitch Ratings has downgraded South Korea-based steel producer POSCO’s Long-Term Issuer Default Rating (IDR) and senior unsecured rating to ‘BBB’ from ‘BBB+’. The Outlook for the ratings is Stable. The agency has also downgraded POSCO’s Short-Term IDR to ‘F3′ from ‘F2′.

The downgrade reflects POSCO’s deteriorating credit metrics caused by elevated levels of debt and moderate profitability, and the expectation of significant investments in coming years. Fitch expects the company’s FFO net leverage to exceed 3.5x in 2013 and 2014, above the agency’s previous threshold of 3.5x where negative rating action would have been considered. The Stable Outlook reflects Fitch’s expectation that POSCO’s earnings will slowly recover after bottoming out.

KEY RATING DRIVERS

Moderate Profitability to Continue: Fitch does not expect to see significant improvements in POSCO’s core steel margins as the steel industry continues to face severe over-capacity and a slow recovery in global demand. Fitch expects POSCO’s margins for its non-steelmaking businesses (such as engineering and construction) to remain at healthy levels as they benefit from the company’s expansion in steel manufacturing. >> Read More

 

American business magnate Warren Buffett made a fortunes of about USD 37 million per day in 2013, according to Wealth-X, making him the billionaire who made the most money this year.

With a gain of USD 12.7 billion in 2013, Buffett’s net worth at the end of the year stands at USD 59.1 billion. The notable philanthropist had a fortune of USD 46.4 billion at the beginning of the year.

However, Buffett is not the wealthiest billionaire on the top 10 list prepared by Wealth-X.

Microsoft Chairman Bill Gates added USD 11.5 billion to his personal fortune in 2013, ending the year with assets totalling USD 72.6 billion. Gates is also the richest person on the list. >> Read More

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Technically Yours,
Team ASR,
Baroda, India.