Apple outshines all of Berkshire Hathaway’s businesses, Warren Buffett says. The Berkshire CEO emphasized the immense value Apple’s customers place on their devices. Buffett touted the fact that Berkshire’s Apple stake grows as the tech titan buys back stock. Apple outclasses every single one of Berkshire Hathaway‘s subsidiaries, Warren Buffett says. “It just happens to … Read more
Warren Buffett’s $3 billion investment in General Electric saved the company, a new book reveals. GE Capital faced a potential default and bankruptcy in 2008, Bill Cohan writes in “Power Failure.” Buffett’s cash and vote of confidence enabled GE to survive the financial crisis, Cohan reported. Warren Buffett plowed $3 billion into General Electric at … Read more
Warren Buffett’s “most gruesome” mistake was buying Dexter Shoe, a Maine shoemaker, in 1993. He paid with Berkshire Hathaway stock worth $433 million at the time, but $12 billion today. “I gave away 1.6% of a wonderful business … to buy a worthless business,” Buffett later admitted. Warren Buffett’s gravest mistake was buying Dexter Shoe … Read more
Warren Buffett plowed $5 billion into Bank of America during the US debt-ceiling crisis in 2011. The famed investor and Berkshire Hathaway CEO had the idea to invest while taking a bath. Buffett’s Berkshire Hathaway counts Bank of America as its number-two holding after Apple. Warren Buffett struck one of the must lucrative deals of … Read more
The encyclopedia maker, which Buffett bought in 1986, was disrupted by online learning tools. “It is not the business it was five years ago,” Buffett told investors in 1996. One of Warren Buffett’s favorite businesses became his “most difficult problem” within a decade of him buying it. The billionaire investor and Berkshire Hathaway CEO acquired … Read more
Warren Buffett’s Berkshire Hathaway plowed another $44 million into Occidental Petroleum, boosting its bet on the oil-and-gas firm to about $9 billion. With the purchase of another 794,389 shares of Occidental Petroleum Corp for about $55.40 each, the conglomerate now holds nearly 16.4% stake in the Houston, Texas-based oil firm. In a regulatory filing, Berkshire … Read more
Warren Buffett and Charlie Munger spoke during Berkshire Hathaway’s annual meeting on Saturday. The billionaire investors flagged widespread “gambling” on stocks, and slammed bitcoin as worthless. Buffett and Munger also discussed inflation, Robinhood, the pandemic, and the risks of speaking up. Something is loading. Warren Buffett and Charlie Munger called out the feverish speculation in … Read more
Warren Buffett‘s Berkshire Hathaway has struck an $11.6 billion deal to buy Alleghany Corp, the owner of reinsurer TransRe, just weeks after the 91-year-old billionaire bemoaned the lack of good investment opportunities. Alleghany adds to Berkshire’s already large insurance portfolio, which includes Geico auto insurance, General Re reinsurance and a unit that insures against major … Read more
Warren Buffett is back among the richest five people in the world amid steep drops in tech stocks that are eroding the wealth of Silicon Valley executives. Buffett’s fortune has grown 7.2% this year to $116.7 billion as shares of his Berkshire Hathaway Inc. have rallied, putting him in fifth place on the Bloomberg Billionaires … Read more