Editor’s Note: Related tickers: Berkshire Hathaway Inc. (NYSE:BRK.A), American International Group, Inc. (NYSE:AIG), Apple Inc. (NASDAQ:AAPL), Halliburton Company (NYSE:HAL), Schlumberger Limited. (NYSE:SLB), National-Oilwell Varco, Inc. (NYSE:NOV), The Coca-Cola Company (NYSE:KO)
Buffett’s Berkshire Hires Four Top AIG Executives (WSJ)
Warren Buffett‘s Berkshire Hathaway Inc. (NYSE:BRK.A) -0.50% has poached four senior executives from American International Group, Inc. (NYSE:AIG) -3.06% grabbing people with experience insuring large and unusual risks, according to a person familiar with the matter. The defectors include Peter Eastwood, the head of AIG’s U.S. property-casualty operations; David Bresnahan, president of American International Group, Inc. (NYSE:AIG)’s Lexington unit; Sanjay Godhwani, president for Latin America and the Caribbean for American International Group, Inc. (NYSE:AIG)’s property-casualty operations; and David Fields, another top property-casualty executive.
What Apple Can Learn From Warren Buffett (Bloomberg)
Give credit to Apple Inc. (NASDAQ:AAPL) and its chief executive officer, Tim Cook, for getting serious about returning unneeded capital to shareholders. As for the details, some of them don’t seem well thought out. The maker of iPhones and iPads this week said its board approved a sixfold increase in its stock-repurchase plan to $60 billion. Not long ago, even discussing the idea of large share buybacks was a nonstarter for Apple Inc. (NASDAQ:AAPL). Now that its stock has tanked, the company is acting like they are a must-do, no matter what else the future might bring. At about $408 a share, down 42 percent since its record high in September, Apple Inc. (NASDAQ:AAPL) has a stock- market value of $383 billion.
Warren Buffett-Backed Chinese Automaker BYD Says Profit Quadrupled In 1st Qtr (Forbes)
BYD , a Chinese manufacturer of autos, batteries and phone components 10% owned by Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A), said yesterday evening net profit quadrupled to 112.4 million yuan, or $18.1 million, in the first three months of the year as sales recovered from a decline last year. Revenue at Hong Kong- and Shenzhen-listed company rose to 12.9 billion yuan in the first quarter, compared with 11.7 billion a year ago. Net profit in the first quarter of 2012 was only 27 million yuan. Last year, profit plunged by 94% amid slow auto industry growth and bad publicity after one of its cars caught on fire after a collision. BYD predicted last month net profit in the first quarter of 2013 would improve by as much as 418% from a year earlier.
Expectations Ride High for This Warren Buffett Darling (Fool)
Many oil and natural gas service companies called the fourth quarter of 2012 a trough in the North American market. By all accounts so far during this reporting period, that appears to be especially prescient. International heavyweights Halliburton Company (NYSE:HAL) and Schlumberger Limited. (NYSE:SLB) both witnessed signs that a second half turnaround us likely upon them and the industry as a whole. What does that mean to Warren Buffett? Well, a lot, really. For the last couple of quarters, Buffett has been adding stock in National-Oilwell Varco, Inc. (NYSE:NOV) to his portfolio and for what appears to be good reason. The company is modestly priced compared to peers and has its hand in both on-land and offshore drilling markets. Replacing parts on rigs and upgrading global fleets is National-Oilwell Varco, Inc. (NYSE:NOV)’s business, and there are no shortage of customers.
Ex-Buffett in-law looks behind his success (NationMultimedia)
And who is in a better position to know him and relate his ideas and messages better than Mary Buffett, his former daughter-in-law, who spent 12 years in the family? At a talk-show event called “Exploring Buffettology with Mary Buffett” in Bangkok yesterday, she provided several insights and anecdotes related to the investment guru, apart from laying down his strategies that beat the stock market for the long haul. For a start, Warren Buffett advises us to invest when we are young so that we may enjoy the compounding annual return on our investment, she said. Don’t wait until you are rich before making investment.