Warren Buffett’s Berkshire Hathaway acquires Hartford UK variable annuity business

Columbia Insurance Company, a Berkshire Hathaway firm, has purchased Hartford Life International Limited (HLIL) in a transaction valued at approximately $285m.

Property and casualty insurance provider Hartford originally signed an agreement with Columbia Insurance in June this year, to divest its UK variable annuity business, as part of its strategy to streamline its operations.

HLIL's sole asset is its subsidiary, Hartford Life Limited (HLL), a Dublin-based company that sold variable annuities in the UK from 2005 to 2009. As of 30 November 2013, HLL had $1.7bn in assets under management.

Would Warren Buffett Buy Bitcoin?

by Patrick Morris, The Motley Fool Dec 8th 2013 8:08AM
Updated Dec 8th 2013 8:10AM

Warren Buffett of Berkshire Hathaway is one of the most successful investors of all time, and his thoughts on gold will likely tell us what he thinks of Bitcoin.

The gold rush
In September of 2011, the price of gold hit $1,861 per ounce, which capped off an incredible 10-year run that saw the price of gold rise on average each year by 21%.

If someone had invested $1,000 in gold, it would have turned into $6,830 over those 10 years, whereas a $1,000 investment in the S&P 500 would have only left them with only $1,055.

Warren Buffett says Detroit ripe for investors, including himself

Warren Buffett

By Ricardo Lopez

November 27, 2013, 9:26 a.m.

The Oracle of Omaha said Wednesday he'd be willing to invest in Detroit if he found a suitable company.

Warren Buffett was on hand at a Goldman Sachs Group Inc. event to announce a program that will provide up to $15 million in loans to small business to spur economic development. An additional $5 million will go toward providing education and training to entrepreneurs, Goldman Sachs said in a statement.

“The resources are here to have a great, great city,” Buffett told the news conference, the Detroit Free Press reported.

Detroit, which declared bankruptcy in July, is reeling from the loss of tax revenue as the city's population has shrunk over several decades. The city's population is 701,000, down from its peak of 1.8 million in 1950.

Warren Buffett in the news

City services have been slashed, vacant lots and abandoned buildings proliferate throughout the city. The average police response time to emergency calls is almost an hour.

Warren Buffett buys sizable new Exxon Mobil stake

Warren Buffett’s Berkshire Hathaway Inc on Thursday disclosed a new US$3.45-billion stake in Exxon Mobil Corp, after buying 40.1 million shares in the world’s largest publicly traded oil company.

Although the investment represents just 0.9% of Houston-based Exxon’s shares, analysts said it reflects strong support by the second-richest American of one of the world’s largest and most profitable companies.

In June, Berkshire Hathaway announced it had taken a $500-million stake in Suncor Energy Inc., Canada’s largest integrated operator and major oil sands company. Exxon also has sizable exposure to Canada with a 70% stake in Imperial Oil Ltd., another major oil sands operator in Canada. The deal gives the Oracle of Omaha exposure to growing oil markets across a number of hot oil markets such as U.S. shale, the Canadian oil sands, Kurdistan and Russia, among others.

Warren Buffett's Berkshire Buys Stake In Exxon Mobil

Warren Buffett, chairman and CEO of Berkshire Hathaway (BRK.A)(BRK.B), just reported his third quarter portfolio update on Thursday afternoon. He, or one of his recently hired fund managers Todd Combs or Ted Weschler, reported holding a single new stock in the third quarter: Exxon Mobil Corporation. The size of the holding suggests that it was a Buffett purchase.

There are collectively 43 stocks in Berkshire Hathaway’s portfolio, which is valued at $92.04 billion. Exxon joins a group of other oil and gas stocks in Buffett’s portfolio: National Oilwell Varco Inc. (NOV), Phillips 66 (PSX), Suncor Energy Inc. (SU) and ConocoPhillips (COP). In total, energy stocks comprise 7.9% of its total.

Exxon Mobil Corporation (XOM)

Warren Buffett, Julian Robertson Gain Big with Dish Network’s Stock Surge

Warren Buffett, chairman and CEO of Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) and Julian Robertson, the legendary hedge fund manager and founder Tiger Management gained big from their investment on Dish Network Corp (NASDAQ:DISH) after the stock price of the company surged by 6% to $50.33 per share today.
The shares of Dish Network climbed after the satellite-television service provider generated strong financial results for the third quarter. The stock also moved higher after Charlie Ergen, chairman of the company commented that the idea of a potential acquisition remained on the table.
Buffett owns 547, 312 shares of Dish Network, and acquired its stake in the company at an average price of $38.94 per share in the previous quarter. Based on the current trading price of the stock, Buffett earned about$11 per share or approximately $5.7 million from his investment.

CCU business students to meet Warren Buffett

By WBTW News Staff
CONWAY (CCU Press Release) -- -

Coastal Carolina University's E. Craig Wall Sr. College of Business Administration is one of eight business colleges chosen to travel to Omaha, Neb., for a Q&A session and luncheon with American business magnate Warren Buffett.

Buffett, chairman and CEO of Berkshire Hathaway Inc., entertains business students from colleges across the nation several Fridays a year for the purpose of one-on-one discussions on how to succeed in the business world.

Twenty CCU business students will be traveling to Omaha on Nov. 14, along with Kenneth Small, assistant dean of students for the Wall College of Business, and Gina Cummings, director of CCU's Wall Fellows program.

CCU alumnus Alexander Klaus, a businessman based in Huntersville, N.C., was instrumental in arranging the invitation to meet with Buffett.

3 Energy Companies Warren Buffett Loves

by Tyler Crowe, The Motley Fool Nov 8th 2013 10:23AM
Updated Nov 8th 2013 10:24AM

Warren Buffett doesn't take investment decisions lightly. If he is buying something, then the company probably has a very optimistic long term outlook that may be overlooked. So far this year, Mr. Buffett's Berkshire Hathaway has made 2 major pickups in the energy space: National Oilwell Varco , Suncor . Also, Berkshire subsidiary Mid-American Energy will be closing an acquisition for NV Energy this quarter. So what makes these companies so special that they get the Warren Buffett stamp of approval? Let's take a look at these three companies and see what gives them that secret sauce.

Warren Buffett's Real Estate network, Berkshire Hathaway HomeServices, to debut in Portland

Warren Buffett is throwing his flagship company’s name behind a new chain of real estate companies assembled last year, and the change comes to Portland this week.Prudential Northwest Properties, a Portland real estate services company acquired by a Berkshire Hathaway affiliate in 2012, will adopt the Berkshire Hathaway HomeServices brand starting Wednesday. The company will be ceremonially unveiling its new for-sale yard sign in the morning, then swapping out signs all around the Portland area the same day.

The Oracle of Omaha doesn’t typically put Berkshire’s name on consumer-facing brands. Instead, the conglomerate owns brands like Geico, Dairy Queen and the BNSF railroad.
http://www.oregonlive.com/front-porch/index.ssf/2013/11/warren_buffetts_berkshire_hath.html

Warren Buffett & Technology Stocks

Why Warren Buffett won't buy Twitter

By Meena Krishnamsetty

It's widely assumed that Warren Buffett doesn't invest in technology stocks, but in recent years, this belief has contrasted with reality. After accounting for 0% of his equity portfolio at the end of 2010, the tech sector now makes up one sixth of Buffett's stock holdings. At Insider Monkey, we believe that hedge funds and other prominent investors' best stock picks exhibit market-beating potential, so it's worth paying attention to these developments.

In the case of Buffett and Berkshire Hathaway, they're not your typical technology investors. They follow a very strict set of rules when selecting investm
ents in this space, which, through our observations, boil down to finding tech companies that: 1) trade at very cheap multiples, 2) pay a dividend, and 3) have sustainable product offerings that will safeguard their survival over the next 15 to 20 years.

http://www.marketwatch.com/story/why-warren-buffett-wont-buy-twitter-2013-11-04?link=MW_latest_news

WARREN BUFFETT makes another big bet on newspapers, buying 63 from Media General

By Mark Fitzgerald

Just three years ago, billionaire Warren Buffett told stockholders at his Berkshire Hathaway Inc. annual meeting that newspapers were doomed to be money-losing propositions. “For most newspapers in the United States, we would not buy them at any price,” he said at the time.

But last November he paid $200 million to buy his hometown daily, the Omaha World-Herald. And on May 17, he announced he was buying 63 dailies and weeklies from Media General Inc. for $142 million in cash. The deal includes such notable titles as the Richmond Times-Dispatch and the Winston-Salem Journal, but not its biggest property, the Tampa Tribune. Media General said it was in discussions with other perspective buyers for the Tribune.
http://inlandpress.org/articles/2013/11/01/knowledge/marketing_readership

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Warren Buffett & Charlie Munger Best Advice

The Chairman and Vice Chairman of Berkshire Hathaway Corporation reveal what is easier for them that's difficult for most people.



Buffett (about Munger): He's given me a lot more advice than I've given him. He lives a very rational life. I've never heard him say a word that expressed envy of anyone. He doesn't waste time on senseless emotions.

Munger: There's an old saying, "What good is envy? It's the one sin you can't have any fun at." It's 100% destructive. Resentment is crazy. Revenge is crazy. Envy is crazy. If you get those things out of your life early, life works a lot better.

Buffett: It so clearly makes sense.

Munger: We've learned how to outsmart people who are clearly smarter [than we are.]

Buffett: Temperament is more important than IQ. You need reasonable intelligence, but you absolutely have to have the right temperament. Otherwise, something will snap you.

Munger: The other big secret is that we're good at lifelong learning. Warren is better in his 70s and 80s, in many ways, that he was when he was younger. If you keep learning all the time, you have a wonderful advantage.

Warren Buffett Not Surprised By Obamacare Technical Problems

Buffett : I’m not totally surprised. I’ve been involved in enough rollouts of big tech project before, so when you look at the scope of this, I’m not totally surprised [by the problems]. But it’s very bad that this has happened. Understandably it affects people’s attitude toward the whole concept of Obamacare. I’m glad I wasn’t in charge—I’ll put it that way [laughs].

Read more: http://business.time.com/2013/10/23/warren-buffett-is-not-surprised-by-obamacares-technical-problems/#ixzz2ikNcMQNQ

Warren Buffett: What Happens If I Die Tomorrow

Oct. 22 (Bloomberg) -- Warren Buffett, chairman/CEO and Howard Buffett, board member at Berkshire Hathaway, discusses their confidence in succession plans for the company. They speak on Bloomberg Television's "In The Loop."

Warren Buffett endorses new Business kits for children

By JOSH FUNK
Associated Press
OMAHA, Neb. – Earlier this year, Warren Buffett congratulated a group of three Kentucky kids for developing kits to help their peers set up businesses.
Now Buffett is helping teach the young entrepreneurs how tough business can be by backing a competing product.

Both the new “Business in a Box” kits and the contest the Kentucky kids won in May are tied to “The Secret Millionaire’s Club” cartoon that features advice from an animated version of the billionaire investor.

Amy Heyward, one of the co-founders of cartoon maker A Squared Entertainment, said the company started developing the Business in a Box kits more than three years ago, so there’s no direct link to the contest-winning idea.

http://durangoherald.com/article/20131020/NEWS04/131029983/-1/s

Warren Buffett : The Debt Ceiling Is Asinine

If you understand what the debt ceiling is, you can see how silly the entire construct really is. In essence, it’s a constraint that the government is guaranteed to hit only because it chooses to appropriate spending that causes us to hit that level. I keep describing it like eating a pizza and then tying your large intestine in a knot while you threaten your stomach not to digest the food. You know the food is going into your large intestine at some point because you already chose to eat it, but here you are like an idiot threatening your stomach not to digest the food. Of course, you inevitably untie the knot in your intestine because you know it would cause big problems if you didn’t. That’s basically what Congress does every time we run into this silly constraint.
Unfortunately, some politicians are choosing to use the threat of default to get what they want. And I think the last few weeks prove how utterly dangerous and unreasonable it is. Using the threat of defaulting on your own country is not a reasonable way to legislate. If politicians don’t want higher debt limits then don’t appropriate the spending. It’s that simple. No one needs the debt ceiling to impose this constraint. It’s dangerous and unnecessary.

http://seekingalpha.com/article/1753512-warren-buffett-the-debt-ceiling-is-asinine?source=google_news

Warren Buffett on JPMorgan: Jamie Dimon will survive fine

Warren E. Buffett : "If a cop follows you for 500 miles, you're going to get a ticket." That's how Warren Buffett described the legal troubles facing JPMorgan Chase and its chairman-CEO, Jamie Dimon. "You've had a lot of cops that have been following for a long time," the Berkshire Hathaway boss added in a CNBC interview Wednesday. "And they're going to write some tickets."

3 Stocks Warren Buffett Could Love in This Market

Using the P/E Gap as a measurement for value

Oct 15, 2013, 2:52 pm EDT  |  By Traders Reserve

Some of the best minds in the business believe that stocks are fairly and fully valued today.
Warren Buffett was the first making the pronouncement. The Oracle of Omaha known for his value style of investing isn’t seeing many buying opportunities at the moment. Next up is famed hedge fund manager Julian Robertson. He too sees a market at full price with little room for improvement.

http://investorplace.com/2013/10/3-stocks-warren-buffett-could-love-ual-ryl-dwa-insys/

Warren Buffett and Debt Ceiling

The billionaire investor Warren Buffet said that Congressional Republicans aren’t stupid enough to hold America’s full faith and credit hostage to politics and also said in an interview that that Congress will most likely raise the nation’s debt ceiling in instant to shun defaulting on all its obligations, though it likely won’t happen until the final hours. He also said the debt ceiling politics by Republicans leaders are a weapon of mass destruction of a unusual source to get their way on other legislation.
The Congressional Republicans are planning to use the debt ceiling as a weapon to delay a critical provision of President’s Obama Affordable Care act or get backing for the controversial Keystone pipeline. According to the Treasury Secretary Jack Lew, America won’t even have enough money to pay the bills if they fail to raise the nations borrowing limit also known as debt ceiling on which there is already a lot of politics is going on between the parties. And there is already a lot of debate going on over the debt ceiling and if that results in a deadlock, it could potentially cause a financial meltdown.

http://tehranchronicle.com/warren-buffett-and-debt-ceiling/3506/

Warren Buffett Talks Philanthropy With Bank of America CEO

Video streaming by Ustream
September 20, 2013 – Business magnate and investor Warren Buffett sat down with Bank of America CEO Brian Moynihan at Georgetown yesterday to talk about the importance of philanthropy and share his thoughts on the current economic climate.
“Originally my wife and I had planned when we were in our twenties that when we had everything we needed, we would give the rest to society,” Buffett, chair and CEO of Berkshire Hathaway, told an audience of more than 700 Georgetown students, faculty, staff and business leaders.
Buffett is ranked No. 4 on Forbes magazine’s list of top billionaires in the world and No. 2 in the United States. In 2006, he made a commitment to gradually give away all of his Berkshire Hathaway stock to philanthropic foundations.