Warren Buffett News: Did Buffett Smack Down the Dow This Morning?

BERKSHIRE HATHAWAYDid Buffett Smack Down the Dow This Morning? (Fool)
With so many investors nervous about the fiscal cliff, the last thing the market needed was for billionaire Warren Buffett to express his doubts about whether lawmakers could get a deal done by the end of 2012. Despite Buffett’s saying that Congress would eventually reach a compromise, stocks opened lower and then plunged after poor new-home sales data cast the recovery into doubt. After sinking more than 100 points, the Dow Jones Industrial Average (INDEXDJX:.DJI) managed to claw back to just a three-point decline by 10:45 a.m. EST. As often happens on days with poor economic data, financial stocks took the biggest hit, with Bank of America Corp (NYSE:BAC) and JPMorgan Chase & Co. (NYSE:JPM) off about 1% each.

Buffett Makes Eyebrow-Raising Pick for Treasury Secretary (InvestorPlace)
Billionaire investor Warren Buffett thinks that President Obama should tap the head of JPMorgan Chase (NYSE:JPM) to lead the Treasury Department. The chairman of Berkshire Hathaway (NYSE:BRK.A, BRK.B) said that Jamie Dimon would be an excellent choice to direct fiscal policy in times of market turbulence during The Charlie Rose Show interview on Monday, CNN noted. In fact, Buffett lauded Dimon as “the best person” for Secretary of the Treasury. Current Treasury Secretary Timothy Geithner is expected so step down in the near term, having previously signaled that he would not remain on the job long after the election.

On taxes and investment, ask a guy worth $46 billion (MenaFN)
Warren Buffett is at it again. In yet another traitor-to-his-class op-ed article in The New York Times, America’s second-richest man Monday threw cold water on the notion that higher tax rates would keep wealthy Americans from investing their money. “So let’s forget about the rich and ultrarich going on strike and stuffing their ample funds under their mattresses if — gasp — capital gains rates and ordinary income rates are increased,” wrote the 82-year-chairman of Berkshire Hathaway. “The ultrarich, including me, will forever pursue investment opportunities.”

Buffett Expects Delayed Resolution to Fiscal Cliff (247WallSt)
Warren Buffett of Berkshire Hathaway Inc. (NYSE: BRK-A) was on CNBC via remote teleconference this morning. While the aim was for a new biography, the real turn went to the coming fiscal cliff, with its instant tax hikes and spending cuts. Buffett said that he believes the $250,000 threshold of success is too low and he told President Obama about it a head of time. Buffett thinks that $500,000 is a better threshold that really targets more of the wealthy. Another issue on the fiscal cliff is that Buffett is looking for a resolution to come, but he does not really think that it will occur right before the deadline of December 31. Buffett is looking for a resolution to come shortly after the first of the year.

Buffett Says U.S. Businesses Haven’t Been Hurt by Taxes (BusinessWeek)
Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc. (NYSE:BRK.A), said U.S. businesses haven’t been hurt by taxes and have benefited from declining rates in the past few decades. “Corporate taxes have not been a problem for corporate America,” Buffett, 82, said today in an interview on CNBC. “The biggest beneficiary of reductions in tax rates in the last 30 or 40 years has been corporations, and the biggest increase has been in the payroll tax.”

Obama Tax Hike on Small Business Would Chill Hiring (Heritage)
“Would raising taxes on the wealthiest Americans have a chilling effect on hiring in this country?” When asked this question by Today’s Matt Lauer, Warren Buffett confidently answered, “No.” How could this be, when the tax hikes desired by President Obama would fall directly on some of America’s most successful job creators? Professor George Haynes of Montana State University analyzed small business employment based on the Federal Reserve Survey of Consumer Finances and found that those small businesses run by families earning more than $250,000 per year employ 93 percent of the people working in small businesses. Raising these businesses’ taxes means that they have fewer resources available to invest and create jobs.

Bombardier wins biggest business-jet deal in its history (TheNewsTribune)
Bombardier won the biggest business-jet deal in its history with luxury air-charter company VistaJet Holding, exceeding a transaction five months ago with Warren Buffett’s plane-leasing unit. VistaJet ordered 56 Global-series aircraft and took options for 86 more as it taps Asian demand. The deal has a value of $3.1 billion, which would rise to $7.8 billion should all the planes be taken, Bombardier said Tuesday in a statement. Bombardier shares gained the most since June. The agreement marks a second significant win for Bombardier, which in June reached a $7.3 billion agreement for as many as 275 of its Challenger aircraft with the NetJets unit of Buffett’s Berkshire Hathaway. Interior Department close to revised rules for leased tribal lands The Interior Department says it is close to finalizing land lease regulations that will speed up economic development on tribal lands.

Berkshire Hathaway’s Website Basically Hasn’t Changed Since the Year 2000 (TheAtlantic)
You expect some weird things out of Berkshire Hathaway. Helmed by that quirky billionaire Warren Buffett, he of the ‘Sausage McBuffett’ and a deep commitment to value investing, the company has not been afraid to zig when others zagged. They are big on freight rail, for instance, and their sexiest holding is an industrial lubricant maker. All that to say, perhaps we should not be surprised that the company’s website was built in the 1990s, and hasn’t really entertained a redesign since. The biggest change to its interface came in 1999, when the design switched from a single bulleted list of 11 links to a two-column bulleted list with a teensy bit more white space around its 14 hotlinks.

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!