Here are some note/bulletpoints from the Berkshire Hathaway shareholder’s weekend
- Buffett is in favor of buying Wells Fargo
- Warren Buffett says Berkshire Hathaway is not interested in buying newspapers in the United States “at any price.” He says the changing media environment now means newspapers “have the possibility of unending losses” and he does not “see anything on the horizon that causes that erosion to end.
- Warren Buffett revealed the company had “got a chance to buy some corporate bonds very, very cheaply a few months back.”
- Warren Buffett says there are no plans for a buyback of Berkshire Hathaway stock right now.
- Buffett says operating earnings for Berkshire Hathaway will be about $1.7 billion, after taxes. That compares to around $1.9 billion last year, and works out to a decline of almost 11 percent. He partially attributes the drop to losses in Berkshire’s investing portfolio and to losses on credit default swaps.
Berkshire Hathaway (NYSE: BRKA and NYSE: BRKB) is a conglomerate holding company headquartered in Omaha, Nebraska, U.S., that oversees and manages a number of subsidiary companies. Berkshire Hathaway’s core business is insurance, including property and casualty insurance, reinsurance and specialty nonstandard insurance. The Company averaged an annual growth in book value of 20.3% to its shareholders for the last 44 years, while employing large amounts of capital, and minimal debt. (source: wikipedia.com)