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Keyword: buffet

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  • SANTELLI: 'The answer is easy: Spend less!' (cnbc via Drudge, insiders are clueless)

    07/08/2011 5:18:39 PM PDT · by longtermmemmory · 12 replies
    http://video.cnbc.com/gallery/?video=3000032061 ^ | 7/8/2011 | Drudge link to CNBC video
    Video of comments, see Santelli comments around time index 2.25 Spend less. Santelli even openly disagrees with uber insider buffet.
  • Buffet doesn't see a U.S Debt Crisis - WHAT?????

    05/17/2011 7:42:04 PM PDT · by publius321 · 13 replies
    According to a report from Marketwatch, At Berkshire Hathaway’s annual meeting in Omaha, Chairman Warren Buffett raised more than a few eyebrows when he said that, “The United States is not going to have a debt crisis as long as we keep issuing our debts in our own currency. The only thing we have to worry about is the printing press and inflation.” He took some heat for that statement. I think it is a bit odd to contend that we don’t already have a debt crisis. If we don't have a DEBT crisis, then we certainly have a CURRENCY...
  • Where's The Oracle Of Omaha's Ethics?

    03/03/2011 11:08:13 AM PST · by FromLori · 14 replies
    The Market Ticker ^ | 3/3/2011 | Karl Denninger
    Say much less simple compliance with the law:CORPUS CHRISTI — A final judgment has been issued against one of the nation's largest mobile homebuilders related to a jury trial last year that found the company liable for civil racketeering and fraud in a South Texas case.
  • The Left's Last Gamble

    11/25/2010 5:18:04 AM PST · by rj45mis · 34 replies
    American Vision ^ | November 24, 2010 | Bojidar Marinov
    In the 1980s the Communist governments in Eastern Europe began to realize that they were losing power. The Communist grip on the minds of the people was loosening. The Communist public schools were failing to produce young people loyal to the Party and to the Marxist ideology. The populations in Eastern Europe were increasingly resentful of the dictatorships, and local bureaucrats in many places had trouble imposing their will on the reluctant people. Information about the West was penetrating the borders, and Marxism was considered a joke everywhere. Those more courageous were doing everything they could to run the blockade...
  • Warren's Billions Thank Uncle Sam For Bailing Them Out

    11/17/2010 8:48:07 AM PST · by FromLori · 2 replies · 1+ views
    ZeroHedge ^ | 11/17/10 | Tyler Durden
    Nothing quite like the billionaire whose entire fortune is invested in the successful perpetuation of the ponzi, thanking the administration for taking trillions of dollars out of the taxpayers' pocket and preserving the broken system for a few more years, just so said billionaire can wax holier than thou on the pages of the administration's newspaper and thank the administration for allowing him to swim in his nickel pool through expiration. If one tries hard enough, one can almost spot a ridiculously hypocritical vicious loop in there somewhere... Below, Warren Buffett thanks YOU for saving his money, via the NYT....
  • Berkshire Takes Accounting Rules Into Its Own Hands, Tells SEC To Stuff It

    10/25/2010 8:17:20 AM PDT · by FromLori · 8 replies
    ZeroHedge ^ | 10/25/10 | Tyler Durden
    A new just released stunner discloses the unprecedented level of hypocrisy attained by Warren Buffett, for whom apparently accounting rules are swell, except when he actually needs to follow them. Reuters has just announced that the U.S. Securities and Exchange Commission questioned Warren Buffett's Berkshire Hathaway in the second quarter on why it was not writing down large losses on shares in Kraft and US Bancorp, but the company insisted its accounting was right. The issue arises out of $1.86 billion in "unrealized" losses in Kraft and USB, which had a duration of more than 12 months, and should have...
  • Buffett: I See A Huge Recovery Across All Of Our Businesses Happening Right Now

    09/13/2010 11:13:55 AM PDT · by blam · 74 replies
    The Business Insider ^ | 9-13-2010 | Joe Weisenthal
    Buffett: I See A Huge Recovery Across All Of Our Businesses Happening Right Now Joe Weisenthal Sep. 13, 2010, 1:57 PM Warren Buffett has never been too pessimistic on the economy, though he's never been one to see consensus on the way up. Throughout 2009, as the media saw more and more green shoots, the word ouf ot Berkshire Hathaway was one of skepticism. This year his tone has mostly been one of caution. And now that the media is obsessed with the double-dip scenario? Bloomberg: “I am a huge bull on this country,” Buffett, Berkshire’s chief executive officer, said...
  • Buffett Secretly Spending Millions on Abortion Med-School Scheme: NY Times

    07/21/2010 5:15:45 AM PDT · by rhema · 30 replies · 1+ views
    Lifesite News ^ | July 19, 2010 | Patrick B. Craine
    Billionaire investing mogul Warren Buffett has been secretly backing a campaign to combat the decrease in doctors who are training as abortionists and to bring abortion into mainstream medicine, revealed the New York Times this week. In her NYT magazine cover story, journalist Emily Bazelon describes how abortion “rights” activists are working to “recast doctors, changing them from a weak link of abortion to a strong one.” The piece, entitled “The New Abortion Providers,” claims that abortionists and the pro-abort lobby are trying to dispel the image of the “greedy, butchering ‘abortionist’.” “The bold idea at the heart of this...
  • He Are The People Our Parents Warned Us About

    07/10/2010 9:30:44 AM PDT · by Starman417 · 9 replies · 1+ views
    Flopping Aces ^ | 07-10-10 | DrJohn
    “We are the people They couldn’t figure out We are the people Our parents warned us about”I once flew from Chicago to Hartford seated next to someone who services Hammond organs and did so for some big name bands. He mentioned one which happened to be a long time favorite and told me that they occasionally came by the shop in a city outside of Hartford. “Man, I’d love to be there one time and meet them” I said to my neighbor. He just shook his head. I looked at him quizzically for a moment and then I thought I...
  • Buffet Loses $950 Million In One Day On Goldman SEC Charges

    04/17/2010 6:23:53 AM PDT · by george76 · 73 replies · 1,662+ views
    Business Insider ^ | Apr. 16, 2010 | Gregory White
    Warren Buffet lost $950 million in Goldman Sachs (GSI) options today as the bank's stock tanked as a result of the SEC filing fraud charges against the firm
  • Buffet: Control Health Care Cost (Not pushing Obamacare)

    03/01/2010 5:18:00 AM PST · by jimjohn2458 · 29 replies · 974+ views
    Billionaire Warren Buffett says health care costs are a major drain on U.S. businesses and act like an "economic tape worm." The head of the holding company Berkshire Hathaway Inc. said Monday on CNBC that America's health care system needs fundamental reform to attack costs because it's not practical to continue devoting roughly 17 percent of the nation's gross domestic product to health care.
  • Warren Buffett Visits the Temple

    11/14/2009 11:30:41 AM PST · by FromLori · 9 replies · 427+ views
    Economic Policy Journal ^ | 11/13/09 | Robert Wenzel
    Perhaps hearing that CEO Lloyd Blankfein stated that Goldman Sachs' was now doing "God's work", Buffett on Wednesday visited Goldman's headquarters at 85 Broad Street--maybe to make sure the 10% dividend on his muilti-billion preferred share investment was secure. Since never before has earning billions with the help of a massive government bailout been considered "God's work." I have it on good authority that though Buffett was given a tour of Goldman's entire trading floor, he didn't spot a bible in the place. And, although he did speak to the Goldman congregation. These were dubbed "town-hall style meetings."
  • Buffett's Burlington Buy Is Really a Bet on China

    11/08/2009 8:38:56 PM PST · by FromLori · 16 replies · 796+ views
    Seeking Alpha ^ | 11/8/09
    ust when it looked like the prophecies of Nostradamus may be coming true, a white knight, in the form of Warren Buffett, strode in and saved the day. Buffett’s buy of Burlington Northern (BNI) turned the US equities markets from ugly duckling to suave Prince. The purchase was hailed by the Oracle himself as a “bet on America”. We see it a little bit differently…it is a bet on Asia/China. Burlington Northern System Map The map above (click to enlarge) illustrates the BNSF network. The BNSF system travels through the agricultural heartland, the manufacturing mid-west and the coal rich Powder...
  • Warrent Buffet the $40+ billionaire get taxpayers bailout

    11/07/2009 10:55:50 PM PST · by 4rcane · 9 replies · 706+ views
    I had lunch last week with Rolfe Winkler, who is an up and comer in the blog world, a thinking man’s Felix Salmon. He is similarly annoyed with St. Warren — but rather than engage in my sophmoric venom spew, he went to the spreadsheet to discover that Buffet owns major stakes in 8 companies that have received more than $100 billion in government bailouts. Capitalist? Hardly. Sounds more like just another crony to me. Rolfe also posts this fabulous chart:
  • Closely Watched Buffett Recalculating His Bets

    09/08/2009 7:12:32 PM PDT · by FromLori · 13 replies · 1,144+ views
    Warren E. Buffett has two cardinal rules of investing. Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1. Well, a lot of old rules got trashed when the financial crisis struck — even for the Oracle of Omaha. At 79, Mr. Buffett is coming off the worst year of his long, storied career. On paper, he personally lost an estimated $25 billion in the financial panic of 2008, enough to cost him his title as the world’s richest man. (His friend and sometime bridge partner, Bill Gates, now holds that honor, according to Forbes.) And...
  • More Buffett And The Pigman

    08/07/2009 9:06:27 AM PDT · by FromLori · 5 replies · 571+ views
    The Market Ticker ^ | 8/7/09 | Karl Denninger
    It seems my previous article has garnered a bit of criticism from someone I hold in rather high regard, indicating that perhaps I have been less than clear in my criticism. Let me be clear: There is nothing wrong with making a lot of money, and leveraging your wealth into making even more money! It doesn't surprise me that those with lots of money get "special dispensation" in the form of conversations with Treasury Secretaries and other members of the government. The "little people" - that is you and I - will never get that sort of treatment, simply because...
  • Buffett's Inner Pigman Shines Through

    08/06/2009 7:20:04 AM PDT · by FromLori · 21 replies · 1,004+ views
    The Market Ticker ^ | 8/6/09 | Karl Denninger
    Who doesn't love the image Warren Buffett projects in the media? The beloved stock-picker, with his mantra "buy smart, sell never", has become an American icon. He preaches the free market, capitalism, smart business practices and running a tight ship. He lives frugally in a modest home, doesn't flash his (extreme) wealth and claims that through hard work and dedication one can succeed in America. And now, Berkshire is set to report what may be the best quarter in his firm's history. The truth is somewhat different. Buffett has repeatedly used his influence to exempt himself from laws that apply...
  • Warren Buffett Makes $1 Billion Profit on Chinese Carmaker (another day, another billion)

    07/31/2009 2:39:04 PM PDT · by SeekAndFind · 16 replies · 628+ views
    Moneynews ^ | 7/31/2009
    NEW YORK -- Warren Buffett's Berkshire Hathaway Inc has realized a $1.02 billion paper profit on a 10-month-old investment in BYD Co after shares in the Chinese car and battery maker quintupled. Berkshire's MidAmerican Energy Holdings Co unit had agreed last September 26 to buy 225 million BYD shares at HK$8 each, a transaction then worth about $230 million. The China Securities Regulatory Commission on Thursday granted approval for the transaction, which gives Berkshire a 9.89 percent stake. BYD shares closed Friday at HK$42.90, valuing Berkshire's stake at HK$9.65 billion, or about $1.25 billion. Hong Kong's benchmark Hang Seng index...
  • Warren Buffett to CNBC: U.S. Economy In "Shambles" .. No Signs of Recovery Yet

    06/24/2009 9:30:51 AM PDT · by moose2004 · 35 replies · 1,367+ views
    CNBC ^ | 6/24/09 | moose2004
    In a live interview on CNBC underway now, Warren Buffett says there has been little progress over the past few months in the "economic war" being fought by the country. "We haven't got the economy moving yet."
  • The Swimming Naked Prophecy

    05/04/2009 4:02:09 PM PDT · by givemELL · 7 replies · 954+ views
    brusselsjournal.com ^ | 5=04-2009 | Sharon Kayser
    Although Americans fell asleep at the wheel, they are slowly coming back to their senses, realizing that Wall Street speculations were not under the scrutiny of watchdogs but Madoff-like people. Gerald Celente, a prominent forecaster, believes that a violent Revolution will start soon. He rightfully argues that Americans are not going to accept seeing their taxes raised as they are losing their jobs, homes and retirement savings as they unwittingly fund the merger of state and corporations - which is called fascism. On a more positive note, if the United States is now pointed at as the main culprit of...
  • Warren Buffett takes charge (banking on an obscure Chinese electric car company)

    04/15/2009 4:17:47 PM PDT · by dynachrome · 9 replies · 569+ views
    Fortune ^ | 4-13-09 | Marc Gunther
    So when Buffett's friend and longtime partner in Berkshire Hathaway (BRKB), Charlie Munger, suggested early last year that they invest in BYD, an obscure Chinese battery, mobile phone, and electric car company, one might have predicted Buffett would cite rule No. 3 above. He is, after all, a man who shunned the booming U.S. tech industry during the 1990s. But Buffett, who is 78, was intrigued by Munger's description of the entrepreneur behind BYD, a man named Wang Chuan-Fu, whom he had met through a mutual friend. "This guy," Munger tells Fortune, "is a combination of Thomas Edison and Jack...
  • World's richest not so rich, Gates regains top spot (Buffet back to Number 2)

    03/11/2009 4:57:36 PM PDT · by SeekAndFind · 6 replies · 455+ views
    Reuters ^ | March 11,2009 | Claudia Parsons
    NEW YORK (Reuters) - Microsoft Corp founder Bill Gates is the richest man again, overtaking investor Warren Buffett, as the global financial meltdown wiped out $2 trillion from the net worth of the world's billionaires, Forbes Magazine said on Wednesday. The number of billionaires in the world fell by nearly a third to 793 in the past year, with large numbers dropping off the list in Russia, India and Turkey. Gates regained his title as the richest man in the world, with $40 billion after slipping to third last year when he was worth $58 billion. Buffett, last year's richest...
  • 'US to recover in five years'

    03/09/2009 11:21:38 AM PDT · by Schnucki · 16 replies · 828+ views
    AFP via News.com.au ^ | March 9, 2009
    BILLIONAIRE Warren Buffett says the US economy could recover in five years, likening the current battle against prolonged recession as a Pearl Harbour-like situation during World War II. "I think that economy will be fine in five years, but I wish we'd get there faster,'' said Mr Buffett, one of the world's richest men, in an interview with CNBC. "America's best days are ahead, but how fast we'll go there is in question.'' He described the current situation, in which unemployment is at a 25-year high and stocks have plunged to 12 year lows, as "an economic Pearl Harbour'' and...
  • Warren Buffett sees U.S. economy in shambles

    02/28/2009 10:48:32 PM PST · by advance_copy · 43 replies · 1,694+ views
    Reuters via Yahoo ^ | 2/28/09 | Jonathan Stemple
    Berkshire Hathaway Inc, Warren Buffett's insurance and investment company, barely broke even in the fourth quarter because of losses on derivatives contracts tied to the stock market. Skip related content Profit fell 96 percent, the fifth straight quarterly decline, and Berkshire's net worth tumbled $10.9 billion (7.64 billion pounds) in the year's final three months. Net worth per share fell 9.6 percent in 2008, only the second decline since Buffett began running Berkshire in 1965. It fell 6.2 percent in 2001. In his eagerly anticipated annual letter to Berkshire shareholders, Buffett also offered a gloomy economic outlook, saying "the economy...
  • A Tale of two Warren Buffet stories, the pessimist and the optimist.

    02/28/2009 9:12:45 AM PST · by tarpit · 6 replies · 798+ views
    2/28/2009 | self
    AP via Brietbart Warren Buffet the optimist by AP via Breitbartstory indicates "Warren Buffett says the economic turmoil that contributed to a 62 percent profit drop last year at the holding company he controls is certain to continue in 2009, but the revered investor remains optimistic. Warren Buffet the pessimist Bloomberg story indicates While Buffett and business partner Charlie Munger can’t predict how stocks will perform in 2009, they’re certain “that the economy will be in shambles throughout 2009 - and, for that matter, probably well beyond,” he wrote.
  • Warren Buffet's Grandaughter Can't Afford Cable

    12/18/2008 7:39:05 AM PST · by Pessimist · 54 replies · 1,993+ views
    Fox News ^ | 12/18/08 | Mike Brody
    Two years ago, Nicole Buffett was disowned by her grandfather, the world's richest man Warren Buffett after she appeared in a documentary by Johnson & Johnson heir Jamie Johnson about the gap between rich and poor and then plugged the movie on "Oprah." Now, she's getting by with her artwork, a collection of high-end abstract landscapes that have been added to private collections from Japan to Washington, D.C., to Hollywood. ...
  • Berkshire Hathaway (Warren Buffett) quarterly net income falls 77%

    11/07/2008 6:50:50 PM PST · by Lancey Howard · 24 replies · 1,279+ views
    Wall Street Journal - Market Watch ^ | Nov. 7, 2008 | Alistair Barr
    SAN FRANCISCO (MarketWatch) -- Berkshire Hathaway reported a 77% drop in third-quarter net income late Friday as the insurance-focused conglomerate recognized more than $1 billion of unrealized derivative losses and paid hurricane claims. Operating earnings, which exclude net realized investment gains and losses, were $2.07 billion, or $1,335 per Class A share, down 19% from the same period in 2007. Berkshire's large insurance businesses generated an underwriting profit of $81 million in the latest third quarter, down from $486 million last year. Hurricanes Gustav and Ike left Berkshire's insurance businesses with estimated losses of roughly $1.05 billion in the third...
  • Jimmy Buffett To Sing For Obama In Florida

    10/28/2008 7:44:11 PM PDT · by shove_it · 86 replies · 1,944+ views
    wftv.com ^ | 10/28/2008
    Jimmy Buffett plans a free concert Sunday in Tampa to urge people to vote for Democrat Barack Obama for president. The "Last Chance for Change" rally and concert is happening two days before the election at the outdoor Ford Amphitheatre. People can get two free tickets by visiting any of the early voting information tables the Obama campaign has set up in the Tampa Bay area. Show time is 3 p.m.
  • Obama Advisor Buffet Gives Millions to Pro-Abortion Groups

    10/21/2008 10:00:31 AM PDT · by julieee · 6 replies · 629+ views
    LifeNews.com ^ | October 21, 2008 | Steven Ertelt
    Washington, DC -- During the third and final presidential debate last week, Barack Obama mentioned investment guru Warren Buffet as a financial advisor. Obama called Buffet a "my friend and supporter," but failed to mention Buffet has given millions of dollars to pro-abortion groups.
  • The Rich Vote Republican, So Why is Warren Buffet Supporting Obama?

    10/15/2008 8:18:42 AM PDT · by QenBirQeni · 34 replies · 2,161+ views
    Wall Street Journal Op-Ed ^ | 2008-10-13 | Robert Frank
    According to a new survey by Prince & Associates, voters worth $1 million to $10 million are favoring Sen. John McCain, while voters worth $30 million or more are favoring Sen. Barack Obama. The survey of 493 families showed: More than three quarters of those worth $1 million to $10 million plan to vote for Sen. McCain. Only 15% plan to vote for Sen. Obama (the rest are undecided). Of those worth more than $30 million, two-thirds support Sen. Obama, while one third support Sen. McCain. ... Link
  • Huckabee on Fox Saying Someone is Crashing the Market

    10/11/2008 7:09:52 AM PDT · by Abbeville Conservative · 300 replies · 8,902+ views
    Fox New | October 12, 2008 | Vanity
    Huck is convinced someone or some persons are causing the market to crash. He says this is economic terrorism that needs to be investigated by the CIA. This was brought to his attention by someone he trusts that is familiar with how the market operates. This person noticed a disturbing trend in the way stocks were being bought and sold. Huck firmly believes this is the case. Some of us have talked about this theory before and that it could be Soros, Buffet or other Obama supporters. I was never a Huck fan but I'd give my left nut to...
  • 'Paulson's new 'Global Banking Corp.' IPO 2009

    10/07/2008 10:13:53 AM PDT · by Grampa Dave · 25 replies · 746+ views
    Market Watch.com ^ | Oct 6, 2008 | PAUL B. FARRELL
    'Paulson's new 'Global Banking Corp.' IPO 2009 Forget Washington, forget Goldman: Our hero has global ambitions By Paul B. Farrell, MarketWatch Last update: 7:05 p.m. EDT Oct. 6, 2008Comments: 108ARROYO GRANDE, Calif. (MarketWatch) -- What if: Hank Paulson doesn't return to Wall Street and Goldman Sachs? Builds a global banking empire? Competes head-on with Goldman, Morgan, and other domestic and foreign banks? What if the money comes from offshore, from Asia and the Gulf? He's a red-hot brand! Expect a mega-IPO in 2009.
  • Buffett to Congress: Bail out economy or face 'meltdown'

    09/28/2008 12:14:23 PM PDT · by DRey · 24 replies · 597+ views
    Isn't this a little like the cat threatening that if the mouse doesn't walk into his mouth he'll be eaten?
  • (2005) Investigation of Insurance Puts Buffett in a Spotlight (AIG meltdown)

    09/22/2008 3:41:05 PM PDT · by Liz · 27 replies · 451+ views
    NY TIMES ^ | March 28, 2005 | TIMOTHY L. O'BRIEN
    March 28, 2005 .....investigators on three continents are examining Buffet's Berkshire insurance affiliates .......the company is in the unfamiliar position of having to defend its integrity. Berkshire insurance affiliates are involved in what investigators describe as possible financial manipulation at insurance giants like AIG and Zurich Financial Services Group. Investigators are trying to determine the extent of senior executives who oversaw insurance operations that sold products at the core of international regulatory scrutiny. The broad investigation into the insurance industry has already brought down top executives including Maurice R. Greenberg, the former chief executive of AIG.........regulators are looking at a...
  • Goldman's shares get suspicious boost pre-Buffett

    09/26/2008 12:32:23 PM PDT · by BGHater · 4 replies · 539+ views
    Reuters ^ | 24 Sep 2008 | Kristina Cooke
    An unusual surge in Goldman Sachs' share price in the last 10 minutes of trading on Tuesday raised eyebrows on Wall Street, as it came two hours before news of Warren Buffett's big investment in the bank. Goldman Sachs shares rose more than $5 heading into the close of trading even as the rest of the market tumbled, leaving traders suspicious that inside information was used to make a profit. "Obviously someone knew the Buffett news that was coming out. I noticed it yesterday and I was telling my colleagues something is going on with Goldman," said Dave Rovelli, managing...
  • Buffett backs Treasury plan. Says market meltdown is 'an economic Pearl Harbor'

    09/25/2008 12:53:45 AM PDT · by FocusNexus · 28 replies · 947+ views
    Houston Chronicle ^ | Sept. 24, 2008 | ERIK HOLM
    Billionaire Warren Buffett, calling turmoil in the markets an "economic Pearl Harbor," said his $5 billion investment in Goldman Sachs Group is an endorsement of the Treasury's $700 billion bank rescue plan. "I am betting on the Congress doing the right thing for the American public and passing this bill," Buffett said on cable channel CNBC Wednesday. "I certainly have a vote of confidence in Goldman and vote of confidence in Congress." Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke are pushing Congress to quickly approve the proposal to remove illiquid assets from the banking system. Buffett is...
  • Buffett Suggests Edwards Supporters File Class Action Suit

    08/22/2008 6:45:19 AM PDT · by Renfield · 17 replies · 315+ views
    American Thinker blog ^ | 8-22-08 | C. Edmund Wright
    In an interview on CNBC's "Squawk Box," billionaire Warren Buffett suggested that donors to the John Edwards for President Campaign might consider filing a class action lawsuit. "I think if I had given him money I'd probably be asking him for it back now" quipped the investor icon in a half serious, half joking manner. "I think if I were Edwards I might give up a haircut or two and return some of the money....if they (donors of the smaller amnounts) had known the facts they woudn't have sent him the money." Buffett's main problem with Edwards was the fact...
  • Buffett steps into battle for Anheuser Busch

    06/15/2008 5:34:56 PM PDT · by DeaconBenjamin · 33 replies · 135+ views
    The Observer ^ | Sunday June 15 2008 | James Doran in New York
    Warren Buffet, the investor known as the sage of Omaha, is this week expected to privately step into the $46bn hostile bid by Belgian brewer Inbev for Anheuser-Busch, the maker of Budweiser beer. Buffett, who owns 5 per cent of Anheuser through his group Berkshire Hathaway, is planning to speak to August Busch IV, the Anheuser chief executive, within the next few days to discuss the hostile bid, according to sources close to the deal. Buffett wants to remain neutral in the early days of the controversial offer, but it is understood Busch wants to know his opinion of the...
  • Buffett sees "long, deep" U.S. recession (Shut up already, Warren!)

    BERLIN (Reuters) - The United States is already in a recession and it will be longer as well as deeper than many people expect, U.S. investor Warren Buffett said in an interview published in German magazine Der Spiegel on Saturday. He said the United States was "already in recession" and added: "Perhaps not in the sense that economists would define it" with two consecutive quarters of negative growth. "But the people are already feeling the effects," said Buffett, the world's richest man. "It will be deeper and last longer than many think." But he said that won't stop him from...
  • A Currency Even Buffett Would Own

    05/08/2008 4:07:49 PM PDT · by SeekAndFind · 6 replies · 84+ views
    Money News ^ | May 6, 2008 | Sean Hyman
    Brazil has come a long way, baby! Back in the 1980s, it defaulting on its debt and the currency, the real, was a laughingstock. Even in the 1990s, Brazil was still so strapped with debt that no one really considered a bond, stock or currency investment there anything but pure speculation. Roll forward to today and Brazil looks very different. For starters, Warren Buffett owns this currency. When the conservative, long term holder from Omaha owns a currency, you know he sees a great future for a very long time. After all, as he says, he's not a trader and...
  • Buffett says recession may be worse than feared

    04/28/2008 2:39:55 PM PDT · by The_Republican · 31 replies · 66+ views
    Reuters ^ | April 29th, 2008 | Jonathan Stempel
    NEW YORK (Reuters) - Warren Buffett, the world's richest person, said on Monday the U.S. economy is in a recession that will be more severe than most people expect. Buffett made his comments on CNBC television after his Berkshire Hathaway Inc (BRKa.N) (BRKb.N) agreed to invest $6.5 billion in the takeover of chewing gum maker Wm Wrigley Jr Co (WWY.N) by Mars Inc in a $23 billion transaction. "This is not a field of specialty for me, but my general feeling is that the recession will be longer and deeper than most people think," Buffett said. "This will not be...
  • Buffett and Gross warn: $516 trillion bubble is a disaster waiting to happen

    03/15/2008 8:37:23 AM PDT · by Diggity · 60 replies · 1,606+ views
    "Charlie and I believe Berkshire should be a fortress of financial strength" wrote Warren Buffett. That was five years before the subprime-credit meltdown. "We try to be alert to any sort of mega-catastrophe risk, and that posture may make us unduly appreciative about the burgeoning quantities of long-term derivatives contracts and the massive amount of uncollateralized receivables that are growing alongside. In our view, however, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal." That warning was in Buffett's 2002 letter to Berkshire shareholders. He saw a future that many others chose to...
  • The Rich Man's Michael Moore

    02/25/2008 6:58:22 AM PST · by shrinkermd · 23 replies · 132+ views
    Wall Street Journal ^ | 25 February | ROBERT FRANK
    ...Mr. Johnson is getting used to being an outcast among the upper class. After the 2003 release of his first film, "Born Rich," which looked at the lives of the silver-spoon set, and now his second, "The One Percent," which focuses on the American wealth gap, Mr. Johnson has become the rich man's Michael Moore -- a trust-fund populist who's not afraid to attack the wealthy and powerful. While his wealth has helped him gain access to the people he's filming, it's also carried personal costs. He has learned the hard way that the biggest betrayal for the rich is...
  • 'Hearty Eaters' Say Buffet Banned Them

    01/02/2008 3:57:01 PM PST · by SkyPilot · 51 replies · 159+ views
    Breitbart ^ | 2 Jan 08 | None
    HOUMA, La. (AP) - A 6-foot-3, 265-pound man says a restaurant overcharged him for his trips to the buffet line, then banned him and a relative because they're hearty eaters. A spokesman for the restaurant denies the claim. Ricky Labit, a disabled offshore worker, said he had been a regular for eight months at the Manchuria Restaurant in Houma, eating there as often as three times a week. On his most recent visit, he said, a waitress gave him and his wife's cousin, 44-year-old Michael Borrelli, a bill for $46.40, roughly double the buffet price for two adults. "She says,...
  • Hillary Clinton Net Worth $34.9 MILLION

    12/15/2007 6:13:01 PM PST · by COUNTrecount · 81 replies · 2,863+ views
    San Francisco Sentinel ^ | 15 December 2007
    WHAT SHE’S GOT Cash and Bonds: $30.1 million Life Insurance: $140,000 Retirement Funds: $33,000 Alternative Investments: $248,000 Houses: $5.9 million Mortgages: $1.5 million WORTH: $39.9 MILLION 2006 Income: $12.1 million WHERE SHE GOT IT When Bill Clinton first ran for President in 1992, Hillary provided most of the couple’s income working for the Rose law firm in Little Rock; he earned only $35,000 a year as governor of Arkansas. Although she takes in $165,200 a year as a senator, these days Bill is breadwinner-in-chief. His presidential pension is $201,000 a year, and he grabbed a $12 million advance for his...
  • Clinton Basks in Buffett Glow (Democrats Now Believe Econnomy Will Be The 2008 Issue)

    12/12/2007 4:31:13 AM PST · by shrinkermd · 23 replies · 307+ views
    Wall Street Journal ^ | 12 December 2007 | AMY CHOZICK and MONICA LANGLEY
    Democratic presidential rivals Hillary Clinton and Barack Obama are vying for the affections of legendary investor Warren Buffett, as the economy eclipses Iraq as a key election issue. Mr. Buffett has said he won't endorse a candidate but that he is willing to throw his substantial fund-raising capabilities behind both Sens. Clinton and Obama. "I told both of them that if they ran for president I'd support them, and here we are," Mr. Buffett said after an event for Mrs. Clinton here yesterday. The fund-raising "Conversation with Warren Buffett" drew over 1,500 people, including a mix of Silicon Valley executives...
  • Clinton, Buffett Denounce Income Gap

    12/11/2007 6:24:18 PM PST · by digger48 · 78 replies · 2,183+ views
    Townhall.com ^ | Dec. 11, 2007 | SCOTT LINDLAW
    Hillary Rodham Clinton on Tuesday made a strong case for keeping the inheritance tax in place, saying it is a key to ensuring the United States remains a meritocracy. At a joint appearance with billionaire investor Warren Buffet, Clinton said the inheritance tax, due to be temporarily repealed in 2010, was a symbol of "what kind of society we are." "The estate tax has been historically part of our very fundamental belief that we should have a meritocracy, that we do not want a system _ where we expect people to make it on their own _ to be, over...
  • Buffett To Host Fund-Raiser For Clinton

    11/26/2007 5:23:51 AM PST · by period end of story · 27 replies · 67+ views
    New York Sun ^ | November 26, 2007 | Josh Gerstein
    PALO ALTO, Calif.—The billionaire investor known as the Oracle of Omaha, Warren Buffett, is staging a second big fund-raiser to boost Senator Clinton's presidential campaign. The event, billed as a lunch and conversation with Mr. Buffett and Mrs. Clinton, is set to take place at a San Francisco hotel on December 11. Tickets will start at $100 for students and those under 30, and $250 for others. In June, the Berkshire Hathaway chairman took part in a similar fund-raiser with Mrs. Clinton in Manhattan. That event reportedly raised about $1 million for her presidential bid.
  • Tax the rich, hide the swindle

    11/25/2007 5:02:22 AM PST · by Kaslin · 29 replies · 173+ views
    Townhall.com ^ | November 25, 2007 | Paul Jacob
    Is it possible that I’m smarter than Warren Buffett? Well, not likely. There’s so much evidence to the contrary, at least of the "if you’re so smart, why aren’t you rich?" kind. But, on my side, I didn’t let myself be interviewed by Tom Brokaw and say that I should be taxed at a higher rate. Buffett compared the federal taxes he pays to the taxes his office workers pay. Relating these tax amounts to the respective incomes, he then figured rates: Mine came to — 17.7 percent. The average for the office was 32.9 percent. There wasn’t anybody in...
  • Warren Wants to Buffet You With Higher Taxes

    11/16/2007 2:19:14 PM PST · by shrinkermd · 19 replies · 47+ views
    Forbes ^ | 26 November 2007 | Steve Forbes
    Warren Buffett has been getting a load of publicity lately by declaring that the members of The Forbes 400 have lower tax rates than corporate receptionists and other middle-class Americans. In an interview with Tom Brokaw, Buffett said: "The Forbes 400, a bunch of my fellow rich guys, their tax rate overall to the federal government [is] less than that of their receptionist." Nice sound bite, but he's deliberately mixing up the income tax with the Social Security portion of the payroll tax. Every worker pays this tax on earnings up to $97,500. Employees pay 6.2%, and employers match that,...