Warren Buffett News: Bill Gates, American International Group, Inc. (AIG) & More

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Editor’s Note: Related tickers: Berkshire Hathaway Inc. (NYSE:BRK.A), LinkedIn Corp (NYSE:LNKD), Microsoft Corporation (NASDAQ:MSFT), H.J. Heinz Company (NYSE:HNZ), American International Group, Inc. (NYSE:AIG), Citigroup Inc (NYSE:C), Royal Bank of Scotland Group plc (ADR) (NYSE:RBS)

Warren Buffett Coca-Cola Company (KO)Of the Buffett debt-escape plan (ToledoBlade)
Filthy rich businessman Warren Buffett, one of America’s wealthiest citizens (that’s filthy in a good way, of course) obviously has some strong ideas about what’s wrong with America, specifically our nation’s staggering national debt. Mr. Buffett told a cable television interviewer some time back that he could end the deficit in five minutes. Just pass a law, he explained, that says that “any time there is a deficit of more than 3 percent of gross domestic product, all sitting members of Congress are ineligible for re-election.”

3 Things Bill Gates Has Learned From Warren Buffett (WallStCheatSheet)
Bill Gates proves that no matter how rich or successful you are, there’s always room for more learning and improvement. In a light, insightful post written on his LinkedIn Corp (NYSE:LNKD)‘s profile, Gates offers the three things he believes to have learned from Warren Buffet over the years. He speaks endearingly about Buffet — with whom he’s on a first-name basis, a privilege we’ve arguably not yet been afforded — with a relaxed and playful tone that allows his humility to shine through. …The first thing Gates outlines has to do, unsurprisingly, with investing. But interestingly enough, Microsoft Corporation (NASDAQ:MSFT)‘s former CEO contends that what he learned first and foremost from Buffet is that, it’s not just about investing.

Warren Watch: A ‘long run’ for Buffett assistant? (Omaha)
Even the Wall Street Journal’s recent profile of Tracy Britt, Warren Buffett’s financial assistant, doesn’t answer the question many people would ask if they got the chance: Will she be Berkshire Hathaway Inc. (NYSE:BRK.A)’s next CEO? Britt’s duties include researching potential acquisitions and serving as nonexecutive chairwoman of four Berkshire subsidiaries: Benjamin Moore, Johns Manville, Larson-Juhl and Oriental Trading. The Journal’s reporting indicated that she has an office next to Buffett’s, accompanies him to meetings and was dispatched to Brazil to find out more about 3G Capital after Berkshire Hathaway Inc. (NYSE:BRK.A) and 3G agreed to buy H.J. Heinz Company (NYSE:HNZ).

Rising Interest Rates to Test Berkshire Outperformance, Buffett Legacy (TheStreet)
Some of the most followed Wall Street commentators fear an era of rising interest rates will dent the legacy of this generation’s best investors. For Warren Buffett, however, rising interest rates could trump fears he has expressed that Berkshire Hathaway Inc. (NYSE:BRK.A) will underperform rising markets in coming years. When Berkshire Hathaway Inc. (NYSE:BRK.A) commenced its May 4 annual shareholder meeting, Buffett had a lot to celebrate given the conglomerate’s rise to new record share price highs and a strong first quarter earnings report due to growth from the firm’s operating subsidiaries.

Berkshire forms unit for excess and surplus market insurance (IVCPost)
Berkshire Hathaway Inc. (NYSE:BRK.A), through a press release last Thursday, announced the formation of Berkshire Hathaway Specialty Insurance. This is the recently created commercial property casualty insurance group is now operating to underwrite property, casualty and other executive liability insurance. According to Berkshire CEO Warren Buffett. “It’s official: We are moving into commercial insurance in a substantial way, and we are here to stay. With our proven underwriting discipline and financial strength, along with a stellar management team, Berkshire Hathaway Inc. (NYSE:BRK.A) Specialty Insurance is a welcome solution for customers seeking large-scale property and casualty capacity for the long term.”

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