Declarations
Naked on Wall Street “You always find out who’s been swimming naked when the tide goes out. We found out that Wall Street has been kind of a nudist beach.” —Berkshire Hathaway’s Warren Buffett who also told Reuters that the …
Declarations
Swimming in the Buff “You always find out who’s been swimming naked when the tide goes out. We found out that Wall Street has been kind of a nudist beach.” —Warren Buffett, who has been named the world’s richest man …
Berkshire’s Buffett Sees Economy in Recession, Weak Until 2009
Warren Buffett said the U.S. economy is still in a recession and unlikely to improve before 2009 but that stocks appear better valued than a year ago. The billionaire investor also said there is a “reasonable chance” shareholders of Fannie …
Entrepreneurs at Heart
People think and act differently when they’re owners. They take more ability to shape the outcome of the company. Privately-owned companies can be more nimble in the marketplace, and this is very important today. [Warren Buffett] operates with a high …
Insurance Weighs on Berkshire Hathaway’s 2nd Quarter Profit
Omaha, Neb.-based Berkshire Hathaway Inc. reported an 8 percent decline in second-quarter profit as of Friday, Aug. 8 because it collected fewer insurance premiums and recorded $1 billion in unrealized derivative losses. Billionaire Warren Buffett’s company said it generated $2.9 …
Utah’s Jack Byrne Legendary in Insurance Circles
Jack Byrne’s magic business touch has been all about the basics paired with high drama. Once hailed as the Babe Ruth of insurance, he was the man who long ago saved Geico, the automobile insurer that later became a household …
Florida, Berkshire Hathaway Strike $224 Million Deal on Insurance Fund
Florida will pay $224 million to Berkshire Hathaway Inc. for a guarantee that the state can borrow up to $4 billion if necessary to help cover future losses by its emergency hurricane insurance fund. Gov. Charlie Crist and Chief Financial …
Merrill, XL to Bail Out Bond Insurer Security Capital
Merrill Lynch has agreed to help bail out bond insurer Security Capital Assurance Ltd. by canceling $3.5 billion in credit default swaps and ending litigation. Under the pact, Security Capital will be released from the derivatives guarantees it sold to …
Even Buffet’s Berkshire Hathaway Finds Itself in Bear Market
It’s a bear market for Warren Buffett’s Berkshire Hathaway Inc., too. The shares of the billionaire’s insurance and investment company have dropped more than 20 percent from their most recent peak, the first time that has happened since February 2003. …
Chinese Fund Manager Pays $2.1 Million for Buffett Lunch; Tip Included
A Chinese fund manager has won a lunch with famed U.S. investor Warren Buffett after bidding $2.11 million for the opportunity in a charity auction, more than three times what the lunch fetched last year. Zhao Danyang, who runs Hong …
