Warren Buffett says buying stocks amid market dip By Ben Berkowitz (Reuters) - Berkshire Hathaway Inc is adding to its shareholdings of two U.S. companies amid a market dip, billionaire investor Warren Buffett said on Monday.
Buffett, Berkshire's controlling shareholder, also forecast record results this year for Berkshire's largest non-insurance businesses, among the railroad BNSF and utility MidAmerican. Berkshire class B shares led the insurance sector to close 1.9 percent higher at $82.47 on Monday. In an interview on cable television network CNBC from just outside his conglomerate's home base in Omaha, Nebraska, he dismissed the dip in European shares after weekend elections in France and Greece. "It's going to be very, very difficult to resolve their problems," he said of the euro zone countries, but he insisted they would do so eventually. Buffett declined to identify the two portfolio stocks Berkshire was purchasing more of. He said Berkshire spent $60 million buying stocks last Friday and would buy more on Monday. It was not clear if the $60 million was spent on just two stocks. Over the weekend, Berkshire held its annual shareholder meeting in Omaha, a festival that draws nearly 40,000 people for an hours-long question-and-answer session with Buffett and Berkshire Vice Chairman Charlie Munger. It was during that session that Buffett revealed he had very nearly made an acquisition of more than $22 billion recently, which would have been one of his biggest ever. The 81-year-old Buffett, recently diagnosed with early-stage prostate cancer, spent much of the day assuring shareholders he was in good health. Barclays Capital analyst Jay Gelb, who participated in one of the Q-and-A panels, said in a note to clients Monday that Berkshire appeared to be worth at least $118 per class B share. While Buffett has his acolytes, not everyone was impressed with his performance. Australian hedge fund manager John Hempton, in a post on his blog on Saturday, said the day was full of the usual questions on politics, economics and the like. "I got all this -- and for the most part I got the usual homily answers. (The same questions were asked last year and the year before and the year before that. Answers can be got from meeting notes)," Hempton wrote. During the CNBC interview, Buffett reiterated his support for Wal-Mart Stores Inc, saying a scandal over bribe payments in Mexico did not change his opinion of the stock. He is Wal-Mart's fifth-largest shareholder. (Reporting by Ben Berkowitz; additional reporting by Lauren Tara LaCapra; Editing by John Wallace and Phil Berlowitz) --- In [email protected], "aloysiussiwira" <aloysiussiwira@...> wrote: > > Inside Buffett's Big Event: Who Are Berkshire Hathaway Shareholders? > By Matt Nesto | Breakout 4 hours ago > > 2 > Email > Print > > Click to Follow Us on Facebook! > > We all know the old cliche: Don't judge a book by its cover. As hard as this > is to always practice, it often yields wonderful surprises. And so it is at > the famed Berkshire Hathaway (BRK-A)(BRK-B) annual shareholder meeting, where > 40,000 people of all ages and from all over the world converge in Omaha, > Nebraska --the pleasant Midwestern city that doubles as Warren Buffett's home > town. > > Since it is him and his party that draws them here year after year, it may > come as no surprise that many of Buffett's followers mimic his unassuming > lifestyle, as much as they drink in his thoughts on investing and a host of > other topics. Like Buffett, most people who make the effort to come here are > friendly, happy to chat and, if only for a weekend, adopt a Midwest > pleasantness no matter where they came from. > > Although the $50 billion net worth of the man at the head table is publicly > known and openly talked about, no such assumptions can be made about the > other people here. In fact, a polite version of financial "don't ask, don't > tell" is played here because there's no way of knowing if the soft-spoken > gentleman from California who is seated next to you has $5,000 or $50 million > in the bank. > > So who are the people that flock to Omaha each year? > > In my short time there, I met a first grade teacher, covered in tattoos that > she normally concealed, who got her stock from her mother, who she thinks > bought it sometime in the 1970s. I shared a taxi with some Norwegians who (I > think) said they won their tickets through a fund in Oslo that is modeled > after Berkshire Hathaway and the Buffett style of finding value. I met a man > who it turns out used to mow the Oracle's lawn when he was a kid growing up > here and had the sense to buy the stock decades ago. > > Wherever I went, I met people who seemed to have only one thing in common: > Untold wealth. > > Like the leather-clad, biker-couple from Missouri I chatted with who were > retired in their early 50s and (need I even say) enjoying life. > > I also talked tax policy in a shuttle bus with a retiring economics professor > from Wellesley College, stood in line to buy See's Candies next to two local > ladies who became shareholders in order to be a part of Omaha's best party, > and shared a few laughs with the mayor of Plant City, Florida and his father > outside Borsheim's. > > They say anyone who has ever been to the Masters in Augusta, Georgia will > surely tell you it draws the classiest sports fans on earth, who are drawn > together by their love of golf and are happy to stand shoulder-to-shoulder in > the hot sun quietly applauding out of respect for the game. Likewise, anyone > who has ever been to a Berkshire Hathaway annual shareholder meeting will > tell you they'd come again, and are just happy to have the chance to spend > some time with a man and a culture they so deeply respect. > > --- In [email protected], "aloysiussiwira" <aloysiussiwira@> wrote: > > > > Is Warren Buffett Still The World's Greatest Investor? > > By Morgan Korn | Daily Ticker Fri, May 4, 2012 7:55 AM EDT > > > > 11 > > Email > > Print > > > > Follow The Daily Ticker on Facebook! > > > > Legions of Berkshire Hathaway investors, Warren Buffett acolytes and news > > organizations (including Yahoo!) will converge in Ohama, Nebraska this > > weekend for the company's annual shareholder meeting. "Woodstock for > > Capitalists," as the widely-attended event has come to be known, offers > > attendees the opportunity to get a glimpse of perhaps the most famous > > investor in the world. > > > > But as Bloomberg points out in an article Thursday, Berkshire Hathaway > > stock (BRK-A) has trailed the S&P 500 Index (GSPC) for the last three > > years. Since May 5, 2009 shares of Berkshire, the conglomerate Buffett has > > built up over the past 40 years, have gained just 32 percent compared to 60 > > percent for the S&P 500. Bloomberg reports that Berkshire's growth has > > slowed as Buffett became more focused on takeovers in industries as diverse > > as railroads and machine tools. > > > > The more pressing issue weighing on the company and shareholders involves > > Buffett's succession plan. Last December Buffett named his son Howard as > > non-executive chairman of Berkshire, an unpaid position with little if any > > influence over daily investing decisions. Buffett described the younger > > Buffett's role as "guardian" of the company's "values." Buffett turns 82 > > this August and Wall Street remains largely clueless as to who will fill > > Buffett's big shoes. A decision by Buffett to name his replacement has > > taken on an extra sense of urgency after he announced last month that he > > had been diagnosed with prostate cancer. The Daily Ticker's Aaron Task and > > Dan Gross discuss the future of Berkshire Hathaway and question whether > > Buffett, aka the "Oracle of Omaha," should continue to hold onto the > > world's greatest investor title. > > > > "It's kind of telling when we talk about Buffett it's most often in the > > context of politics," Dan says. "It seems like only a small percentage of > > Buffett conversations are about what he's buying. Has [Buffet] transcended > > the mere world of results into a cultural icon?" > > > > Buffett has certainly become almost synonymous with politics. Buffett's > > very public comments about his secretary paying a higher tax rate than he > > inspired President Obama to name his proposed tax on millionaires the > > "Buffett Rule." Debbie Bosanek, Buffett's longtime secretary, sat with the > > First Lady in her box at the president's State of the Union Address in > > January. Dan says Buffett's turn as a philanthropist and political activist > > puts him in the same league as Bill Gates, the co-founder and former CEO of > > Microsoft, who has become globally recognized as the one "who will solve > > the world's problems." > > > > While Berkshire stock may be lagging, few investors have questioned > > Buffett's choice of companies. Buffett's mantra has been "slow and steady" > > and "he's not looking for a quick buck," Aaron says. Buffett may have > > missed hot growth stocks like Apple and Amazon, but his $44 billion > > investment in railroad operator Burlington Northern Santa Fe in 2009 was a > > savvy move for Berkshire. Some of the firm's biggest holdings Costco > > (COST), M&T Bank (MTB), Johnson & Johnson (JNJ) and DirecTV (DTV) have > > been a mixed bag; Buffett has been adjusting his stock portfolio, selling > > his stake in ExxonMobil (XOM) and buying shares of Intel (INTC) and IBM > > (IBM) this winter. Berkshire, one of the most expensive publicly traded > > stocks, continues to attract investors mainly because of Buffett's > > reputation and cult-like following. Yet the Buffett premium "is coming out > > of the stock," Aaron notes. "People are realizing he's mortal." > > > ------------------------------------ Kunjungi situs http://www.info-saham.com untuk informasi seputar saham. SEMUA POSTING DI MILIS INI TANGGUNG JAWAB PENGIRIM EMAIL DAN BUKAN ADMIN MILIS. SEMUA POSTING DI MILIS INI BUKAN UNTUK MENGAJAK MEMBELI ATAU MENJUAL EFEK. SETIAP KEPUTUSAN INVESTASI MENJADI TANGGUNG JAWAB PIHAK PEMILIK INVESTASI ATAU PEMILIK MODAL. 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