Alternatives to Buffett’s ‘terrible’ bonds (FT)
Warren Buffett, America’s best-known investor and the world’s fourth-richest person, has made his feelings about bonds clear, declaring them “terrible investments”. Speaking on US television this week, the chief executive of Berkshire Hathaway Inc. (NYSE:BRK.A) said that many investors had been drawn to bonds because their prices tend to rise as interest rates fall. But, he warned, when the situation changes “people could lose a lot of money if they’re in long-term bonds”.
Who’s worth more, Dorsey or Buffett? (BizJournals)
New economy fundraiser, meet old economy fundraiser. Kompolt, the same organization behind the annual, hugely successful auction for a lunch date with Warren Buffett, has updated its model for the new millennium. Lunch with Buffett is still on offer — it raised $3.5 million last year on behalf of Glide Memorial Church — but now a sit-down meal with Jack Dorsey is open to offers as well. The co-founder of Twitter and CEO of Square hit the eBay Inc (NASDAQ:EBAY) auction block May 6 with bids starting at $5,000 for an intimate sit-down lunch with Dorsey at the offices of Square in San Francisco. The winning bidder can bring up to seven friends along.
The Buffett Era Begins (Fool)
On this day in economic and business history…”A policy row caused by the infusion of outside money into Berkshire Hathaway Inc. (NYSE:BRK.A) rocked the 76-year-old textile company today and resulted in the resignation of two top officers.” This brief New York Times introduction to the events of May 10, 1965 was the first time the world got to know Warren Buffett, majority owner of Berkshire Hathaway. The 35-year-old Buffett had held a large stake in Berkshire since 1962, and made a proclamation he would soon regret (and walk back) once becoming majority owner: “We’re going to continue to sell the same goods to the same customers.” The early Buffet-era Berkshire Hathaway Inc. (NYSE:BRK.A) investors are undoubtedly very, very glad he didn’t keep that promise.
Is Buffett’s Wind Power Attracting Facebook to Iowa? (WallStCheatSheet)
Warren Buffett’s MidAmerican Energy has announced plans to bet $1.9 billion on wind power. The investment will be used to build additional wind farms in Iowa that will increase the company’s wind generating capacity in the state by about half and represent the single largest economic investment in the state, as officials told The Detroit Free Press. The result will be 656 wind turbines, which the utility company will construct by 2015. MidAmerican Energy is a subsidiary of MidAmerican Energy Holdings Co., which Berkshire Hathaway Inc. (NYSE:BRK.A) controls.
GM, Berkshire Lead Corporate Bond Sales of $39.5 Billion in U.S. (BusinessWeek)
General Motors Company (NYSE:GM)’s finance unit and billionaire Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A) led dollar-denominated sales of at least $39.5 billion this week as relative yields narrowed. General Motors Financial Co. sold $2.5 billion in its first issue in almost nine months while Berkshire Hathaway Finance Corp. raised $1 billion in its second sale this year, according to data compiled by Bloomberg. Sales slowed from $46.4 billion in the last period, the busiest in six weeks with Apple Inc. (NASDAQ:AAPL)’s record $17 billion issue.
Celebrating Warren Buffett’s $200 Billion Mistake (Fool)
According to Jason Zweig’s excellent resource, This Day in Financial History, today marks the 48th anniversary of a milestone in the annals of value investing. On May 10, 1965, in a New Bedford, Mass., boardroom, a 34-year money manager named Warren Buffett took control of manufacturer of men’s suit linings named Berkshire Hathaway Inc. (NYSE:BRK.A). On that day, Berkshire’s stock closed at $18 per share; yesterday, Berkshire’s A shares closed at $166,100. Despite that appreciation, Buffett calls Berkshire “the dumbest stock I ever bought.” The explanation and the extraordinary story of how Buffett came to control Berkshire are worth the telling.
Bill Gates, Jeb Bush and Warren Buffett meeting at SC island (WBTW)
Bill Gates, Chairman of Microsoft Corporation (NASDAQ:MSFT) and one of the richest people in the world, is spending time in the Lowcountry. WCBD confirmed the American business magnate is at the Sanctuary on Kiawah Island. Suspicion was raised when several very expensive jets were seen lined up at the Charleston International Airport on Johns Island. Other prominent people said to also be staying there this weekend are Warren Buffett, Jeb Bush and Dan Gilbert, owner of the Cleveland Cavaliers.
4 books Warren Buffett suggests (iAfrica)
The sage of Omaha, Warren Buffett, had the following book recommendations to offer at his annual Berkshire Hathaway Inc. (NYSE:BRK.A) shareholders meeting on the weekend. It is an event that attracts more than 35 000 people every year — including a host of South African investment managers, many of whom make it an annual pilgrimage. Warren Buffett’s book recommendations: Tap Dancing to Work — Warren Buffett on Practically Everything, 1966-2012 — Carol Loomis The Outsiders — Eight Unconventional CEOs and their Radically Rational Blueprint for Success — William Thorndike The Clash of the Cultures — Investment vs. Speculation — Jack Bogle Investing Between the Lines: How to Make Smarter Decisions by Decoding CEO Communications — Linda Rittenhouse
Berkshire’s Bursting With Talent (Fool)
It’s a question we’ve all heard for many years now: What will Berkshire Hathaway Inc. (NYSE:BRK.A) look like when Warren Buffett and Charlie Munger are gone? Motley Fool analysts Joe Magyer and Rex Moore were at the annual meeting in Omaha, and they offer their take on this important question. In part two of this series, Joe says the company’s great assets and great managers will be there for decades to come. Meanwhile, solid companies selling at depressed prices have consistently helped generations of the world’s most successful investors preserve capital, minimize risk, and achieve long-term, market-trampling returns. For one such company, read our free report: “The One REMARKABLE Stock to Own Now.” Just click here to get started.