Published:
7 May 2008 by C Erice
Investment guru Warren Buffett says the worst of the global credit crunch is over for Wall Street, but not for the man or woman on the street.
The chief executive of Berkshire Hathaway said there would be “a lot of pain to come” for mortgage holders.
He made the comments as Berkshire Hathaway’s annual meeting got under way in Omaha, Nebraska, attended by a record 31,000 people.
Read the full article at BBC News.
Published:
15 November 2007 by C Erice
Warren Buffett has said it before and he’s likely to say it again to Congress on Wednesday: He thinks the heirs of the wealthy should be taxed on their inheritance.
Buffett, one of the world’s richest men and now its biggest philanthropist, has been an outspoken critic of efforts to repeal the estate tax and is scheduled to testify at a Senate Finance Committee hearing on how current law affects estate tax planning.
Read the full article at CNN Money.
Published:
14 November 2007 by C Erice
Billionaire Warren Buffett on Wednesday endorsed the estate tax as a check on wealth accumulation, while two senior U.S. senators said they want the tax repealed.
“I think everyone in this room knows we’re not going to repeal the estate tax. It’s not going to happen in the foreseeable future,” he said.
Read the full article at Reuters.
Published:
9 November 2007 by C Erice
Some powerful billionaires are putting in their two cents in response to some taxing remarks from Warren Buffett.
Griping over the Bush administration’s tax policies, Buffett said the rich pay less in taxes as a percent of their income than the middle class, including their own employees.
Read the full article at NYDailyNews.com.
Published:
7 November 2007 by C Erice
Stock sales by the top brass of Burlington Northern Santa Fe Corp. are a cause for concern, but investors who plan to be on board for the long haul should pay more attention to stock purchases by investing guru Warren Buffett of Berkshire Hathaway Inc., one analyst says.
Mr. Buffett first disclosed holding an 11% stake, or about 39 million shares, in Burlington Northern in April. Early last month, he reported boosting his stake to 60.8 million shares, or 17.2%.
Read the full article at Wall Street Journal.
Published:
4 November 2007 by C Erice
The booming Chinese stock market, up more than 100% this year, looks very risky now because major Chinese companies are valued at big premiums to comparable American companies.
Berkshire Hathaway Chief Executive Warren Buffett recently urged investors to be “cautious” on Chinese stocks, saying Berkshire doesn’t buy when prices are “soaring.” Mr. Buffett lately sold — at a huge profit — Berkshire’s 1.3% stake in PetroChina (PTR), China’s largest energy company.
Read the full article at Wall Street Journal.
Published:
3 November 2007 by C Erice
Billionaire investor Warren Buffett’s Berkshire Hathaway Inc. said third-quarter profit surged 64 percent as it reaped an eightfold gain on a stake in PetroChina Co.
Net income rose to $4.55 billion as investment gains increased more than tenfold to $1.99 billion after taxes, the Omaha, Nebraska-based company said yesterday in a regulatory filing. Berkshire began selling its 2.34 billion PetroChina shares as oil prices rose to records in the quarter.
Read the full article at Bloomberg.com.
Published:
31 October 2007 by C Erice
As a prosecution witness, Warren Buffett testified he detected signs of trouble at mortgage finance giant Freddie Mac years before a $5 billion accounting lapse was revealed.
The billionaire investor testified Tuesday for the government in its legal proceeding against Leland Brendsel, the former Freddie Mac chief executive who was ousted in 2003 when the firm’s manipulated earnings were discovered. Buffett’s testimony by video link to a courtroom in Washington was intended to explain why his Berkshire Hathaway Inc. holding company, which had been one of Freddie Mac’s largest shareholders, began selling off shares in the late 1990s.
Read the full article at BusinessWeek.
Published:
25 October 2007 by C Erice
Warren Buffett said Wednesday that investors should be “cautious” about Chinese stocks as prices soar.
“We never buy stocks when we see prices soaring,” Buffett said in Dalian, China, where he was visiting a subsidiary of Berkshire Hathaway. “We buy stocks because we’re confident of the company’s growth. People should be cautious when they see prices rising.”
The mainland Chinese CSI 300 stock index has surged more than 170 percent this year, the biggest increase among 91 key global indexes tracked by Bloomberg. Berkshire has sold stock in PetroChina, the second-largest company by market value.
Read the full article at International Herald Tribune.
Published:
10 October 2007 by C Erice
US billionaire Warren Buffett’s Berkshire Hathaway has further reduced its holding in PetroChina, the Hong Kong-listed arm of China’s largest oil producer, to 3.1 percent, Berkshire Hathaway told the Securities and Exchange Commission Wednesday.
Buffett and his company have been under pressure from the US government to exit the Chinese company because of its investments in Sudan. The US government has accused the Sudanese government of supporting genocide.
Read the full article at CNN Money.