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Archive for October, 2007

Warren Buffett’s Berkshire Hathaway reported on Monday that they have reduced their stake in railway companies Norfolk Southern Corp.  and Union Pacific Corp during the second quarter from Apr to Jun 07.

According to a Securities and Exchange Commission filing, Buffett’s holding in Union Pacific fell to 7.41 million shares valued at $853.4 million as of June 30, from 10.5 million shares on March 31, .

…Continue reading » Warren Buffett Trims Holdings in Norfolk Southern Corp and Union Pacific Corporation

CFA Institute Podcast and Webcast

This is a library of lectures delivered by renowned authors/professors like:

  • Burton Malkiel
  • Jason Zweig
  • David F. Swensen
  • Jeremy J. Siegel
  • Marc Faber
  • Justin Wolfers

Free Podcasts

Free Webcasts, with slides. Enjoy!

Age of Warren Buffett

Another joke by Buffett

Finally, there is the negative that recurs annually: Charlie Munger, Berkshire’s Vice Chariman and my partner, and I are a year older than when we last reported to you. Mitigating this adverse development is the indisputable fact that the age of our top managers is increasing at a considerably lower rate – percentage wise- than is the case at almost all other major corporations. Better yet, this differential will widen in the future.

Berkshire Annual Letter 2000 (Part 2)

Warren Buffett prefers to buy entire businesses rather than just a portion of a listed stock.

One reason is that their managers tend to be more rational and owner-oriented than at many public companies.

The main reason, however, is because of the tax benefits. Without going into details, owning 100% of a company ensures that Berkshire will only be taxed once and not twice on the holding.

All assets can be valued using an investment philosophy laid out in 600 B.C.

…Continue reading » Inefficient Bush Theory

Buffett’s Berkshire Hathaway holding company reveals in a series of filings with the SEC that it has exercised call options to puchase 7,847,818 shares of the freight railroad Burlington Northern Santa Fe.

This purchase raises Berkshire’s stake to 60,828,818 shares, or 17.2% of Burlington Northern’s outstanding shares.

In my previous post on this matter,  I mentioned that Buffett is developing a liking for railway companies. This trend looks set to continue.

Warren Buffett to Visit South Korea

Warren Buffett will visit South Korea later this month, according to a short news article reported by leading Korean newspaper The Chosun Ilbo.

It will be Warren Buffett’s first visit to the country. On the itinerary will be a tour of a Berkshire subsidiary in the city of Daegu, lunch with Korean business leaders and a news conference.

…Continue reading » Warren Buffett to Visit South Korea

Warren Buffet’s Pitch to Ernie Banks

Another joke by Buffett.

The usual baseball game will be held at Rosenblatt Stadium at 7pm on Saturday night. This year the Omaha Golden Spikes will play the Iowa Cubs. Come early, because that’s when the real action takes palce. Those who attended last year saw your Chairman pitch to Ernie Banks.

This encounter proved to be the titanic duel that the sports world had long awaited. After the first few pitches – which were not my best, but when have I ever thrown my best? – I fired a brushback at Ernie just to let him know who was in command. Ernie charged the mound, and I charged the plate. But a clash was avoided because we became exhausted before reaching each other.

Ernie was dissatisfied with his performance last year and has been studying the game films all winter. As you may know, Ernie had 512 home runs in his career as a Cub. Now that he has spotted telltale wwakenesses in my delivery, he expects to get #513 on April 29. I, however, have learned new ways to disguise my “flutterball”. Come and watch this matchup.

I should add that I have extracted a promise from Ernie that he will not hit a “come-backer” at me since I would never be able to duck in time to avoid it. My reflexes are like Woody Allen’s, who said his were so slow that he was once hit by a car being pushed by two guys.

Berkshire Annual Letter 2000 (Part 1)

In the introduction of this letter, Warren Buffett mentions that most of his stock holdings were fully priced and the long term prospect for equities in general was far from exciting.

Year 1999 was the year technology stocks outperformed the rest of the market, but they are not something that Warren Buffett will buy.

…Continue reading » Acquisitions of 2000

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