It’s a “foregone conclusion” that Chinese-American hedge fund manager Li Lu will become one of Berkshire Hathaway’s top investment officials, Charlie Munger told The Wall Street Journal in an article published on the front page of today’s WSJ. Munger, Berkshire’s vice chairman and Warren Buffett’s long-time friend and business partner, met Li Lu in 2003 and soon tapped him to invest some of his family’s money.
Posts Tagged ‘Berkshire Hathaway’
Buffett’s Successor Likely To Be Chinese Hedge Fund Manager Li Lu
July 31st, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: Berkshire Hathaway, Business Partner, Capital Management, Charlie Munger, Columbia University, Foregone Conclusion, Graduate Business Degrees, Hedge Fund Manager, Hedge Funds, Long Time Friend, Money Managers, Poverty In China, Relative Poverty, Student Leader, Tiananmen Square Protests, Undergraduate Law, Wall Street Journal, Warren Buffett, Wesco Financial Corp, Wsj Article 
Comments OffBerkshire Hathaway unit to buy CNA’s asbestos, pollution liabilities for $2 billion
July 15th, 2010 Before You Invest (Reuters) – A unit of Warren Buffett’s Berkshire Hathaway Inc. will take over asbestos and environmental pollution liabilities now held by CNA Financial Corp. in exchange for a $2 billion fee.CNA, which is 90 percent owned by conglomerate Loews Corp., said Berkshire’s National Indemnity Co unit would take over $1.6 billion of net liabilities, retroactive to Jan.
Posted in Finance Fraud Tags: Ajit Jain, Asbestos Claims, Asbestos Exposure, Berkshire Hathaway, Berkshire Hathaway Inc, Chief Executive Officer, Cna Financial Corp, Conglomerate, Credit Risk, Environmental Pollution, Loews Corp, Mid 1970s, National Indemnity, Omaha Nebraska, Reinsurance, Reuters, Thomas Motamed, Tidal Wave, Upfront Payments, Warren Buffett Comments OffWarren Buffett voices support for Goldman Sachs
May 5th, 2010 Before You Invest Warren Buffett, a billionaire investor, has voiced his support for investment bank Goldman Sachs in the wake of the recent fraud allegations levelled by the Securities and Exchange Commission (SEC). The regulator filed a charge of fraud against the financial institution and vice-president Fabrice Tourre, which accused the bank and its employee of deliberately omitting information from investment products linked to subprime mortgages.Mr Buffet, chief executive of Berkshire Hathaway, said that he did not “hold it against Goldman Sachs that they are subject of [SEC] allegations”.He was quoted by the Financial Times as saying: “There is no question that the allegation alone causes the company to lose reputation … the last few weeks hurt the company and morale … it is not remotely mortal but it hurts.”But, Mr Buffet added that after having studied details of the supposedly illegal transaction, he did not believe that Goldman Sachs had committed fraud.Berkshire Hathaway is thought to own $5 billion worth of shares in Goldman Sachs.Meanwhile, Goldman Sachs has revealed that its shareholders have filed a number of law suits against the financial institution accusing it of mismanagement.
Posted in Finance Fraud Tags: Allegation, Berkshire Hathaway, Billionaire, Chief Executive, Fabrice, Financial Institution, Financial Times, Fraud Allegations, Goldman Sachs, Investment Bank, Investment Products, Law Suits, Mismanagement, Reputation, Securities And Exchange, Securities And Exchange Commission, Shareholders, Subprime Mortgages, Voices, Warren Buffett Comments OffBuffett Delivers Goldman Defense
May 1st, 2010 Before You Invest Warren Buffett came to the defense of Goldman Sachs in hard-hitting comments at the Berkshire Hathaway shareholders meeting. Separately, the company recorded a first-quarter profit of $3.6 billion.
Posted in Finance Fraud Tags: Berkshire Hathaway, Berkshire Hathaway Shareholders, First Quarter, Goldman Sachs, Quarter Profit, Warren Buffett Comments OffThe 10 Best And Worst Regarded U.S. Companies
April 6th, 2010 Before You Invest BOSTON (Reuters) – These are the 10 most admired U.S. companies, according to a Harris Interactive Inc survey of 29,963 people conducted from Dec. 29 though Feb. 15. The survey considers the 60 best-known companies:MOST ADMIRED: prior rank1. Berkshire Hathaway Inc 112. Johnson & Johnson 13. Google Inc 24. 3M Co 95.
Posted in Finance Fraud Tags: 3m Co, Amazon Com Inc, American International Group, American International Group Inc, Bank Of America Corp, Berkshire Hathaway, Berkshire Hathaway Inc, Citigroup Inc, Coca Cola Co, Delta Air Lines, Delta Air Lines Inc, General Mills Inc, Goldman Sachs, Goldman Sachs Group, Goldman Sachs Group Inc, Google Inc, Harris Interactive Inc, International Group Inc, Jpmorgan Chase, Sachs Group Inc Comments OffBuffett’s Gone Soft
January 20th, 2010 Before You Invest This week, I could fulfill a childhood dream of owning a share of Berkshire Hathaway.When the company closes on its buy of railroad Burlington Northern Santa Fe, Berkshire is expected to split its fractional Class B shares 50 to 1, for a dollar value so low that even I could buy them (not that I will)!But how Warren has turned my once-lofty sights so pedestrian.Spotting the anomaly of Berkshire’s outsize shares in The Wall Street Journal tables nearly 25 years ago is my first memory of the stock market.
Posted in Finance Fraud Tags: 1952 Topps Mickey Mantle, Berkshire Hathaway, Berkshire Shares, Burlington Northern Santa, Burlington Northern Santa Fe, Chief Executive Officer, Childhood Dream, Class Shares, Google, Google Shares, Journal Tables, Mickey Mantle, Mickey Mantle Baseball, Mickey Mantle Baseball Card, Northern Santa Fe, Shareholder Value, Split Shares, Technology Acquisitions, Wall Street Journal, Warren Buffett Comments OffWarren Buffett opposes Kraft’s deal for Cadbury
January 20th, 2010 Before You Invest (Reuters) – Warren Buffett said Kraft Foods Inc.’s proposed $19.6 billion acquisition of Cadbury Plc is a “terrible deal” and questioned how Chief Executive Irene Rosenfeld chose to pay for it.While Buffett indicated he would not sell his stake in Kraft, shares of the company fell more than 2 percent as the U.S.
Posted in Finance Fraud Tags: Berkshire Hathaway, Business Channel, Cable Business, Cadbury, Chocolatier, Cnbc, Decent Person, Food Group, Good Job, Hostile Takeover, Initial Plan, Irene Rosenfeld, Kraft Foods Inc, Pizza Business, Reuters, S Board, Spokeswoman, Takeover Battle, Warren Buffett, Yeatman No Comments »Coming Soon: Buffett for the Masses
January 19th, 2010 Before You Invest Berkshire’s proposed stock split to buy Burlington Northern could usher in a new era for the conglomerate—maybe even membership in the S&P 500 On Jan. 20, Berkshire Hathaway (BRKA) shareholders are expected to open up the company’s stock to a far less exclusive crowd of investors, a group who Chairman and Chief Executive Warren Buffett has long warned against.By splitting Berkshire’s class B shares 50-for-1, the price of the conglomerate’s cheapest class of stock would fall from about $3,247 each to about $65.
Posted in Finance Fraud Tags: Admirers, Berkshire Hathaway, Billionaire, Billions Of Dollars, Bni, Brka, Burlington Northern, Conglomerate, Fine China, Index Funds, New Era, Real Game, Share Price, Shareholder Letter, Shareholders, Stock Index, Stock Market, Term Traders, Value Philosophy, Warren Buffett No Comments »Berkshire Hathaway votes against Kraft deal for Cadbury
January 6th, 2010 Before You Invest (AP) — Kraft Foods Inc.’s hostile bid for Cadbury PLC grew more contentious Tuesday as Warren Buffett’s Berkshire Hathaway sternly warned against the deal, even as Kraft sweetened its offer.Kraft plans to sell its North American frozen pizza business, whose brands include Tombstone and DiGiorno, to Nestle SA for $3.7 billion.It plans to use the proceeds of the sale of this quick-growing businesses to raise the cash part of its bid for British candy maker Cadbury.Berkshire Hathaway, Kraft’s largest shareholder, said later Tuesday morning that it voted against Kraft’s proposal to issue shares to finance part of the $16.5 billion bid, saying it was worried it gave Kraft a “blank check” to raise the bid even higher.
Posted in Finance Fraud Tags: Berkshire Hathaway, Blank Check, British Candy, Cadbury World, Candy Bars, Candy Maker, Cash Portion, Dairy Milk, Digiorno, Feb 2, Food Company, Frozen Pizza, Hostile Bid, Kraft Foods Inc, Michael Mitchell, Pizza Business, Shareholder Votes, Suitor, Tuesday Morning, Warren Buffett No Comments »Top 10 Best Business Deals of 2009
December 12th, 2009 Before You Invest Berkshire Hathaway–Goldman Sachs JPMorgan Chase and the Deals It Didn’t Do BB&T-Colonial Berkshire Hathaway–Burlington Northern Ford’s $23.6 Billion Loan Grab BlackRock–Barclays Global Investors HP-EDS Google-AdMob Time Warner Spins Off Cable and AOL Mead Johnson NutritionRead more: http://www.time.com/time/specials/packages/completelist/0,29569,1945379,00.html#ixzz0ZWHBcESb
Posted in Finance Fraud Tags: Admob, Amp, Aol, Barclays, Barclays Global Investors, Bb, Berkshire Hathaway, Burlington Northern, Business Deals, Eds, Ford, Goldman Sachs, Google, Grab, Hp, Jpmorgan Chase, Mead Johnson, Northern Ford, Time Specials, Time Warner No Comments »
