The Oracle of Omaha

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November 2008
- Brutal Market Doesn't Spare Buffett
  
  Bloomberg | Nov 20, 08 3:53 AM CST
  
  (Newser) - The "Oracle of Omaha" is proving even he's not immune from market blows, reports Bloomberg. Warren Buffet's Berkshire Hathaway took a 12% nosedive yesterday, its biggest one-day fall since 1987's Black Monday. The conglomerate is down 41% for the year and has been dropping steadily for eight days after announcing a 77% drop in third-quarter profits. More »
October 2008
- Buffett: I'm Buying American. You Should Be, Too.
  
  New York Times | Oct 17, 08 9:32 AM CDT
  
  (Newser) - “I’ve been buying American stocks,” Warren Buffett writes in the New York Times , and he'd like to see a stampede of others following suit. Sure, the financial system is a mess, global economies are faltering, unemployment is rising, and headlines will continue to terrorize markets. But markets will repair themselves, says the Oracle of Omaha, and those who wait for "the comfort of good news" will lose out. More »
- Market Meltdown Reshapes Forbes Rich List
  
  Bloomberg | Oct 10, 08 12:15 PM CDT
  
  (Newser) - The mortgage meltdown has certainly hit middle-class Americans hard but hasn't spared the uber-wealthy, Bloomberg reports. Las Vegas Sands CEO Sheldon Adelson’s net worth shed $4 billion between Aug. 29 and Oct. 1, for instance, while Warren Buffett overtook Bill Gates, whose net worth declined $1.5 billion, as the richest American. Other losers and their losses: More »
- In Crisis, Buffett Is Modern JP Morgan
  
  New York Times | Oct 6, 08 1:27 PM CDT
  
  (Newser) - Amid the financial panic of 1907, financier JP Morgan stepped in to play the role of central bank, crafting an economic rescue plan and using his personality to offer worried Americans a psychological boost. Today, Warren Buffett’s financial aid to Wall Street and calming influence on Main Street are echoing Morgan’s work, the New York Times reports. More »
- Buffett Grabs $3B Chunk of GE
  
  Reuters | Oct 2, 08 3:59 AM CDT
  
  (Newser) - Mega-pockets investor Warren Buffett is sinking $3 billion into General Electric, whose share prices have slumped a third amid the financial chaos on Wall Street, Reuters reports. Buffet, 78, negotiated a 10% dividend, which could generate $300 million income a year. The move comes a week after he invested $5 billion in Goldman Sachs. More »
September 2008
- Buffett Gains Big Say on Nuclear Power
  
  Wall Street Journal | Sep 26, 08 12:28 PM CDT
  
  (Newser) - Warren Buffett’s $4.7 billion agreement to rescue Constellation Energy Group this week netted the billionaire investor more than just a utility. Buffett now will have a big say in the future of nuclear power in the US, the Wall Street Journal reports. He has long been skeptical of the industry, arguing that the plants are too expensive to build. The deal gives him control over 3 plants as well as half of a prominent nuclear development company. More »
- For Buffett, Goldman Deal Was a Snap
  
  Wall Street Journal | Sep 25, 08 10:29 AM CDT
  
  (Newser) - Billionaire Warren Buffett has been getting a lot of calls lately from struggling Wall Street firms looking for a savior, from Bear Stearns to Lehman Brothers to AIG. He’s turned them all down, the Wall Street Journal reports, but when Goldman Sachs called Tuesday, the Oracle of Omaha ponied up $5 billion within hours, on a gut feeling that Goldman was a survivor. "I didn't see a book," he says, "I just made a judgment." More »
- Women Tower in Buffett's Biography
  
  Time | Sep 24, 08 3:00 PM CDT
  
  (Newser) - Warren Buffett’s personal life is a lot messier than his balance sheet, according to a biography. In The Snowball: Warren Buffet and the Business of Life , which hits stores Monday, the Oracle of Omaha for the first time cooperates with a biographer, producing a revealing look at the folksy billionaire, Time reports. Buffett had a terrible relationship with his mother, the book reveals, and has since relied on powerful women to guide him as he focuses exclusively on business. More »
- Goldman Raises $10B After Buffett's Buy-in
  
  Bloomberg | Sep 24, 08 11:01 AM CDT
  
  (Newser) - Where Warren Buffett goes, investors follow. Goldman’s new stock offering pulled in $5 billion this morning, twice the $2.5 billion the firm expected, as investors followed Buffett’s lead, Bloomberg reports. That extra money, combined with Buffett’s $5 billion investment, “should quickly end credit-market debate about the capitalization and liquidity position of Goldman Sachs,” said one analyst. More »
- Buffett's Goldman Buy Stabilizes Stocks
  
  Wall Street Journal | Sep 24, 08 9:16 AM CDT
  
  (Newser) - Stocks rose slightly at the open, reports the Wall Street Journal, buoyed by Warren Buffett’s $5 billion vote of confidence in Goldman Sachs. The Dow Jones rose 21 points, while the S&P rose 0.3%, and the Nasdaq 0.9%. Capitol Hill will again command Wall Street's attention today, and while Congress may be skeptical, Buffett is behind the bailout plan. “I think it was the last thing Hank Paulson wanted to do, but there's no Plan B for this,” he said. More »
- Buffett Strikes as Investors Flee; Buys Energy Firm
  
  Baltimore Sun | Sep 19, 08 10:01 AM CDT
  
  (Newser) - Warren Buffett swooped in yesterday with one of his patented moves, his first during the current market turmoil. He purchased Constellation Energy Group, Baltimore’s large hometown energy supplier, after its stock plummeted by 60 percent since Monday, the Sun reports. As investors fled the company, Buffett saw opportunity, adding to the vast energy holdings that now account for about 10% of Berkshire Hathaway’s revenue. More »
June 2008
- Investor Wins $2.1M Lunch With Buffett
  
  Associated Press | Jun 29, 08 1:37 PM CDT
  
  (AP) - A Chinese investment fund manager won the chance to have lunch with billionaire Warren Buffett by bidding $2.1 million in the most expensive charity auction ever held on eBay. Zhao Danyang of the Hong Kong-based Pureheart China Growth Investment Fund won the auction, which ended Friday evening with a bid of $2,110,100. More »
- Buffett Bets Big Against Hedge Funds
  
  CNNMoney | Jun 10, 08 12:16 PM CDT
  
  (Newser) - Warren Buffett has a lot of money to put where his mouth is. The Oracle of Omaha has bet $320,000 that the market, as measured by the S&P 500, will beat a collection of five carefully selected hedge funds, reports CNNMoney. Taking him on is Protégé Partners, a firm that picks—what else?—mutual funds. More »
May 2008
- Thousands Line Up for Buffett's So-So News
  
  Wall Street Journal | May 3, 08 3:13 PM CDT
  
  (Newser) - Thousands of stockholders descended on Omaha for today's annual Berkshire Hathaway meeting, but what they heard didn't send Blackberries abuzz, the Wall Street Journal reports. Warren Buffett said his iconic company won’t be pulling in double-digit returns anymore. “Anyone that expects us to come close to replicating the past should sell their stock,” he said. “It's not going to happen.” More »
- Buffett Poised to Clean Up in Bear Market
  
  Bloomberg | May 2, 08 2:02 PM CDT
  
  (Newser) - As the US teeters on the brink of recession and most investors remain sidelined by the credit crunch, Warren Buffett is poised to spend more than $40 billion to scoop up bargains. Berkshire Hathaway rose 22% over the last 12 months while other stocks sputtered, and now, Bloomberg reports, the company is one of the few with the cash on hand to profit from a bear market. More »
April 2008
- Fed Rate-Cut Jitters Knock Out Gains
  
  Wall Street Journal | Apr 28, 08 3:46 PM CDT
  
  (Newser) - Stocks ended mixed today as concerns that the Fed might not cut rates at this week's meeting overwhelmed earlier gains that followed announcements of big deals, reports the Wall Street Journal . The Dow ended down 20.11 at 12,871.75, the Nasdaq up 1.47 at 2,424.40, and the S&P 500 down 1.47 at 1,396.37. More »

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Stories

Brutal Market Doesn't Spare Buffett

Buffett: I'm Buying American. You Should Be, Too.

Market Meltdown Reshapes Forbes Rich List

In Crisis, Buffett Is Modern JP Morgan

Buffett Grabs $3B Chunk of GE

Buffett Gains Big Say on Nuclear Power

For Buffett, Goldman Deal Was a Snap

Women Tower in Buffett's Biography

Goldman Raises $10B After Buffett's Buy-in

Buffett's Goldman Buy Stabilizes Stocks

Buffett Strikes as Investors Flee; Buys Energy Firm

Investor Wins $2.1M Lunch With Buffett

Buffett Bets Big Against Hedge Funds

Thousands Line Up for Buffett's So-So News

Buffett Poised to Clean Up in Bear Market

Fed Rate-Cut Jitters Knock Out Gains