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?
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Warren Buffett’s firm Berkshire Hathaway is sitting on a record amount of cash. UBS speculates that the company could make an acquisition exceeding $160 billion this year, perhaps in the utilities sector. Berkshire Hathaway has never had this much cash, so naturally people have wide-ranging ideas for how the Warren Buffett-led juggernaut may use it. UBS, for one, thinks the company should make a splashy acquisition – one that could exceed a whopping $160 billion. The bank arrives at that figure by factoring in the record $109 billion of cash Berkshire had on hand at the start of February, and combining it with the company’s strong free cash flow. As for which industry Berkshire may pursue, UBS thinks utilities are a good bet. After all, the company’s energy unit made an unsuccessful $9 billion offer for the electricity provider Oncor last year and may still be interested in the sector. There is, however, one … [Read more...] about Warren Buffett has enough firepower to do a $160 billion deal this year
Wetherspoon founder and chairman Tim Martin uses company trading update to criticise anti-Brexit institutions. Martin attacked the “highly inaccurate” economic forecasts of international institutions like the OECD and IMF. “Their erroneous views lend weight to Warren Buffett’s aphorism that most forecasts tell you a lot about the forecaster, but nothing about the future,” he said. Wetherspoon saw like-for-like sales increase by 6% in the 12 weeks to January 21. LONDON – Tim Martin, chairman of pub chain JD Wetherspoon has attacked the “highly inaccurate” economic forecasts of international institutions like the OECD and IMF, quoting investing legend Warren Buffett in the process. Writing in the latest trading update for Wetherspoons, Martin took aim at these organisations, as well as the likes of the CBI and BRC, accusing them of “trying to fool … [Read more...] about JD Wetherspoon boss Tim Martin cites Warren Buffett and attacks anti-Brexit organisations for ‘trying to fool the public’
“What’s going on definitely will come to a bad ending,” said Warren Buffett, Berkshire Hathaway’s CEO, on cryptocurrencies. Buffett told CNBC the firm will never have a position in cryptocurrencies. Berkshire Hathaway CEO Warren Buffett said Wednesday that the firm had no interest in jumping on the cryptocurrency bandwagon. “We don’t own any, we’re not short any, we’ll never have a position in them,” Buffett said in an interview on CNBC. “If I could buy a five-year put on every one of the cryptocurrencies, I’d be glad to do it,” Buffett said, referring to options trades that would profit from price declines. He said Berkshire Hathaway remained focused on identifying good businesses and investing in them. The conglomerate announced Wednesday that it was expanding its board, adding Gregory E. Abel and Ajit Jain as directors to boost its size to 14 members.Buffett and … [Read more...] about Warren Buffett says bitcoin ‘definitely will come to a bad ending’
Warren Buffett’s Berkshire Hathaway could be one of the biggest beneficiaries of tax reform, according to Barclays. Analysts estimate that its book value could rise by about $37 billion because of the lower corporate tax rate. The tax cut reduces Berkshire’s deferred tax liability, which represents what it would owe the government if it sold its portfolio and took profits. Warren Buffett’s Berkshire Hathaway could be one of the biggest beneficiaries of tax reform in the insurance sector, according to Barclays. The company’s book value could increase by about $37 billion, said Jay Gelb, an insurance analyst at Barclays, in a note on Monday. That’s $10 billion more than what he estimated in a November note before the tax plan was finalized and signed. Gelb estimated this because Berkshire would have a lower deferred tax liability, which represents what the company would owe the … [Read more...] about Warren Buffett’s Berkshire Hathaway could get a $37 billion windfall from tax cuts