Tag Archives: Buffett

By Jonathan Stempel NEW YORK (Reuters) – Warren Buffett needed just two weeks to put together Berkshire Hathaway Inc’s $11.6 billion takeover of Alleghany Corp, its largest acquisition in six years, even as he balked at paying the insurer’s banking fee, a regulatory filing on Monday shows. Alleghany said its Chief Executive Officer Joseph Brandon met with Buffett for dinner in New York City on March 7, where after some “casual conversation” Buffett offered $850 per share in cash for the… Source link

In many respects, HP (HPQ) has earned the stamp of approval from billionaire investor Warren Buffett. Buffett’s Berkshire Hathaway revealed it owned 121 million shares of HP in a new filing Wednesday evening. The investment — valued at $4.2 billion — gives Berkshire Hathaway a roughly 11.4% stake in HP. Shares surged 11% in pre-market trading. “Berkshire Hathaway is one of the world’s most respected investors and we welcome them as an investor in HP Inc,” an HP spokesperson told Yahoo… Source link

For decades, Berkshire Hathaway (NYSE:BRK.B) Chairman and CEO Warren Buffett maintained a pretty conservative approach to investing, favoring retail and banking stocks while giving a wide berth to more volatile sectors such as tech and energy. However, he finally pulled the trigger on PetroChina Co. (NYSE:PTR) in 2002 and Apple Inc. (NASDAQ:AAPL) in 2011. The Oracle’s foray into energy and tech initially paid off after he realized a tidy $3.5B profit on PetroChina, while his $158 billion… Source link

Sky-high gas prices are surfacing memories of a bygone era — the 1970s — defined by bellbottoms, disco music and (you guessed it) gas lines. Modern motorists might pine for the prospect of 50-cent a gallon unleaded gas that the decade averaged, but don’t compare that to the $4-plus a gallon we’re shelling out ($5 in California!) today. For a true apples-to-apples price comparison, it’s worth reviewing a concept that not only made Warren Buffett fabulously rich — but also makes us all a… Source link

Warren Buffett is channeling one of his long-held investing philosophies in his recent flurry of buzzy deals, says one fellow value-focused investor. That is to be greedy when others in the market are fearful. “I think he is reminding us that when the tide goes out, we see who has been swimming,” remarked Research Affiliates CEO Chris Brightman on Yahoo Finance Live. The 91-year-old billionaire investor revealed Monday that his Berkshire Hathaway will spend $11.6 billion to buy insurance… Source link

Warren Buffett is right to be devouring shares of oil giant Occidental Petroleum (OXY), says one long-time oil markets strategist. The billionaire investor’s Berkshire Hathaway (BRK-A, BRK-B) scooped up another 18.1 million shares of Occidental for close to $1 billion this week. The latest purchases come hot on the heels of Berkshire spending $6 billion or so in the prior two weeks to buy up Occidental shares. Berkshire now owns nearly 14.6% of Occidental Petroleum through his roughly 140… Source link

Berkshire Hathaway (BRK-A, BRK-B) CEO Warren Buffett, the 91-year-old Oracle of Investing, has seen just about every type of market. In 1999, at the height of the internet bubble, Buffett warned that investors expected unrealistic returns. In October 2008, the immediate aftermath of the worst financial crisis since the Great Depression, Buffett dismissed concerns about “the long-term prosperity of the nation’s many sound companies.” In turn, Buffett has a phrase that captures exactly what… Source link

By Jonathan Stempel (Reuters) – Berkshire Hathaway Inc on Friday urged the rejection of four shareholder proposals recommending that it replace Warren Buffett as chairman, report on its plans to handle climate risk and reduce greenhouse gases, and improve diversity. The company, run by Buffett since 1965, also said the 91-year-old received $373,204 in compensation for 2021, down from $380,328 a year earlier, comprising his usual $100,000 salary plus personal and home security. Though Buffett’s… Source link

Warren Buffett.Kevin Lamarque/Reuters Warren Buffett’s Berkshire Hathaway invested $4.5 billion into Occidental Petroleum in five days. The investor pounced after reading a transcript of Occidental’s latest earnings call, he told CNBC. Berkshire snapped up 91.2 million shares, securing a stake worth more than $5 billion today. Warren Buffett’s Berkshire Hathaway plowed $4.5 billion into Occidental Petroleum in five days, securing 91.2 million shares worth upward of $5 billion today. The famed… Source link

(Bloomberg) — Warren Buffett’s Berkshire Hathaway Inc., lacking the blockbuster deals that have galvanized the billionaire investor’s renown, embraced a “mildly attractive” way to deploy its vast cash pile last year via a record-breaking level of buybacks — and showed little sign of changing course. Most Read from Bloomberg Berkshire bought back a total of $27.1 billion in 2021, the highest annual level since Buffett began more aggressively repurchasing stock in 2018. The buybacks… Source link