The Oracle of Omaha

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February 2008
- Buffett Offers to Save Municipal Lenders
  
  Bloomberg | Feb 12, 08 2:39 PM CST
  
  (Newser) - Warren Buffett rode to the rescue today, though the color of his horse is in question. The Sage of Omaha offered to reinsure $800 billion worth of municipal bonds, resolving “in one stroke of a pen” the jitters plaguing the municipal debt market. But his plan is also a bid to gain one-third of the debt-insurance market, and one insurer has already rejected him, Bloomberg reports. More »
- Warren Buffett Chides Banks for Role in Market Mayhem
  
  Daily Telegraph (UK) | Feb 7, 08 2:42 AM CST
  
  (Newser) - Billionaire Warren Buffett thumbed his nose at eminent investment banks today, claiming they caused their own demise in the subprime mortgage meltdown. "It's a little poetic justice, in that the people that brewed this toxic Kool-Aid found themselves drinking a lot of it in the end," Buffett said. More »
January 2008
- Fraud Trial May Put Buffett on Stand
  
  Wall Street Journal | Jan 2, 08 1:24 PM CST
  
  (Newser) - A criminal trial involving four ex-employees of billionaire Warren Buffett is likely to offer a rare—and unwelcome—glimpse into the inner workings of the “Oracle of Omaha,” the Wall Street Journal reports. Buffett isn’t charged in the case—to begin Monday—involving Berkshire Hathaway reinsurance unit General Re Corp. and AIG, but testimony could allege he knew about the deal. More »
December 2007
- Buffett Moves Into Insuring Muni Bonds
  
  Wall Street Journal | Dec 28, 07 9:13 AM CST
  
  (Newser) - Billionaire Warren Buffett is riding to the rescue of the municipal bond market—and taking advantage of an opportunity afforded by the credit crunch—by launching a municipal bond insurer, reports the Wall Street Journal . Berkshire Hathaway Assurance, which opens today in New York state, should make it cheaper for local governments to borrow, since it will be all-but-guaranteed to have a triple-A rating at a time other insurers are at risk of being downgraded. More »
- Buffett to Buy Huge Industrial Firm Marmon
  
  Wall Street Journal | Dec 25, 07 5:47 PM CST
  
  (Newser) - Warren Buffett will pay $4.5 billion to acquire a majority stake in Marmon Holdings, an industrial conglomerate owned by one of America's richest familes, the Wall Street Journal reports. Buffett's Berkshire Hathaway will buy 60% of the company now from the Pritzker family of Chicago, with plans to acquire the rest in stages by 2014. More »
October 2007
- Buffett: I Should Pay More Taxes
  
  Guardian (UK) | Oct 31, 07 10:41 AM CDT
  
  (Newser) - America’s second-richest man, Warren Buffett, stood up for the little guy last night, telling NBC that he and über-wealthy people like him should pay more taxes. The system has dramatically “tilted toward the rich and away from the middle class,” he said. Surveying his office, Buffett found his 17.7% tax rate was less than anyone—“from the receptionist up.” More »
September 2007
- Stocks Rise on Buffett Rumor
  
  Bloomberg | Sep 26, 07 3:46 PM CDT
  
  (Newser) - The Dow climbed 99.5 points today on the strength of the GM settlement and speculation that billionaire Warren Buffett might buy 20% of beleaguered Bear Stearns. The brokerage helped spur the biggest gain in a week, jumping 7.7% after the Buffett story circulated. Said a trader, “You can’t go wrong with a guy like that behind you.” GM surged 9.4% after settling its contract with the UAW, Bloomberg reports. More »
- It's Forbes 400 Time Again
  
  Forbes | Sep 21, 07 7:15 AM CDT
  
  (Newser) - In the 25th year of Forbes magazine's rankings of the 400 riches Americans, the net worth at the poor end of the list is $1.3 billion, up from a flat $1 billion a year ago. Microsoft founder Bill Gates still tops the list with $59 billion, closely followed by Warren Buffett ($52 million). Forty-five of the members appear on the list for the first time. More »
August 2007
- Buffett Turns Wall Street's Frown Upside Down
  
  Wall Street Journal | Aug 21, 07 3:43 PM CDT
  
  (Newser) - Wall Street may be seeing red after weeks of volatility and losses, but Warren Buffett is seeing green as he goes bargain-hunting for the same kind of junk bonds and stocks that have netted him nearly $50 billion, the Journal reports. Downtrodden deal-makers are hoping the star investor will use his Midas touch to buffer their bottom lines. More »
July 2007
- The Top 10 Investors
  
  BusinessWeek | Jul 18, 07 5:16 PM CDT
  
  (Newser) - Not only are these investors sitting on mountains of doubloons—a sure sign of financial savvy—but they have also changed the way people think about money and investing. John Bogle, founder, the Vanguard Group. Now president, Bogle Financial Markets Research Center. Warren Buffett, CEO and chairman, Berkshire Hathaway. David Shaw, chairman, president, and CEO, D.E. Shaw & Co. Also founder, adviser, and partner in firms including IDEXX Laboratories, Black Point Partners, Stanford Systems, and Attenuon. G. Kenneth Heebner, chairman, Capital Growth Management Limited. Bill Gross, chief investment officer, Pacific Investment Management Co., which he helped found in 1971. More »
May 2007
- Buffett Holdings Tie Gates To Darfur Crisis
  
  Los Angeles Times | May 4, 07 1:57 PM CDT
  
  (Newser) - A Berkshire Hathaway investment in a Sudanese oil company is posing thorny problems for the Gates Foundation, the Los Angeles Times reports. Warren Buffet's investment outfit is the largest independent shareholder in PetroChina, whose parent company the U.N. and U.S. say funds Sudan's janjaweed militia—a stark contrast to the foundation's mission. More »
June 2006
- Buffett to Give Bulk of His Fortune to Gates Charity
  
  New York Times | Jun 26, 06
  
  Warren E. Buffett, the chairman of Berkshire Hathaway Inc. and one of the world's wealthiest men, plans to donate the bulk of his $44 billion fortune to the Bill & Melinda Gates Foundation and four other philanthropies starting in July.The donations, outlined in a series of letters that Mr. Buffett released yesterday and will execute today, represent a singular and historic act of charitable giving that vaults him into the top tier of industrialists and entrepreneurs like Andrew Carnegie, John D. Rockefeller Sr., Henry Ford, J. Paul Getty, W. K. Kellogg and Mr. Gates himself, all men whose fortunes...
November 1972
- The Uh-Uh Market - TIME
  
  Time | Nov 27, 72
  
  Not everyone in the land of Supermoney is a villain. For instance, there is Warren Buffett, manager of a private investment fund that grew to $105 million at the incredible appreciation rate of 31% compounded annually over 15 years. Buffett was not exactly one of your Wall Street hotshots. Headquartered in a pleasant residential section of Omaha, he rarely talked to the security-analyst savants of New York City, and operated on the out-of-date theory that a stock should reflect a company's intrinsic value.