When it comes to bitcoin, billionaire investor Warren Buffett wants to make one thing clear: Unlike buying stocks, bonds or real estate, buying bitcoin is not an investment. That's because it lacks intrinsic value, Buffett says. "If you buy something like bitcoin or some cryptocurrency, you don't have anything that is producing anything," Buffett says in an interview with Yahoo Finance. "You're just hoping the next guy pays more. And you only feel you'll find the next guy to pay more if he thinks he's going to find someone that's going to pay more. "You aren't investing when you do that, you're speculating." Famous for his "buy and hold" investment strategy, the Berkshire Hathaway CEO built his company - and his $82.8 billion net worth - backing companies that have substantive value. "Put together a portfolio of companies whose aggregate earnings march upward over the years, and so also will the portfolio's market value," Buffett wrote in his 1996 letter to shareholders. "If you aren't … [Read more...] about Warren Buffett explains one thing people still don’t understand about bitcoin
Businesses owned by warren buffett
Warren Buffett, the chairman and CEO of Berkshire Hathaway, has a net worth of $84.7 billion. Buffett is a generous philanthropist having given away more than $27 billion in the last decade. The billionaire is known for his frugal habits, like his daily McDonald’s breakfast and insistence on using a flip phone. With a net worth of $84.7 billion, “The Oracle of Omaha” is currently the third-richest person in the world – but he doesn’t act like it. His modest home in Nebraska is worth just .001% of his total wealth and he never spends more than $3.17 on his daily McDonald’s breakfast. To those who knew him from the beginning, Buffett’s success comes as no surprise: He was picking out stocks at 11 years old and had amassed the equivalent of $53,000 in today’s dollars by the time he was 16. But Buffett isn’t just a master at making money – … [Read more...] about 24 mind-blowing facts about Warren Buffett and his $84.7 billion fortune
Masayoshi Son may be about to answer the Warren Buffett question. It is a query that is raised with every move the SoftBank billionaire makes. Is he Japan’s answer to the “Sage of Omaha?” Or is he a dupe overpaying for deals? The question is legitimate. Son, after all, has taken heavy flak for – allegedly – single-handedly inflating tech-industry valuations, making him a one-man bubble machine. The dailyReport Must-reads from across Asia - directly to your inbox Now Son is taking the Buffett-esque step of seeking a 25% stake in Swiss Re AG, paying somewhere between US$9 billion and $10 billion. The idea is to diversify Softbank’s holdings with a stable cashflow – not unlike how Buffet’s Berkshire Hathaway operates. After all, Buffett’s stake in reinsurer General Re has been a stabilizing force for his empire. Only time will tell whether any of Son’s three big deal-related news items this week alone actually work out. … [Read more...] about Can Masayoshi Son go the full Warren Buffett?
source Thomson Reuters Warren Buffett’s just released his annual letter to Berkshire Hathaway shareholders, and it included a list of the biggest stock investments held by the company. Wells Fargo and Apple were at the top of the list. Buffett reiterated his belief in investing in companies with solid underlying businesses. Warren Buffett’s annual letter to Berkshire Hathaway shareholders was released early Saturday morning, and it included a list of the company’s 15 biggest stock holdings as of the end of 2017. Consistent with his overall views on investing in what he perceives to be solid businesses, Buffett noted in the letter that he and his partner Charlie Munger approach stock trades in a similar way. Buffett wrote: “Charlie and I view the marketable common stocks that Berkshire owns as interests in businesses, not as ticker symbols to be bought or sold based on their … [Read more...] about Here are Warren Buffett’s 15 biggest stock investments
Wells Fargo got smoked Monday morning after the Federal Reserve handed down its harshest penalty in years limiting the bank’s growth to its 2017 year-end assets of $1.95 trillion. Warren Buffett’s Berkshire Hathaway, which owns just under 10% of the company, lost more than $2.4 billion thanks to the stock slide. Shares of Wells Fargo plunged more than 7% when markets opened Monday, costing Warren Buffett’s Berkshire Hathaway company more than $2.4 billion, following a cease and desist letter from the Federal Reserve. The US’ top bank regulator on Friday announced new sanctions against Wells Fargo, the country’s third-largest bank by assets, limiting its balance sheet to $1.95 trillion and ordering it to beef up its oversight and governance following a sales scandal that has bogged down the bank since 2016. Berkshire Hathaway owned roughly 488.5 million shares of Wells Fargo, or 9.92%, as of September 30, … [Read more...] about Wells Fargo’s stock slump has cost Warren Buffett’s Berkshire Hathaway $2.4 billion