Image via Wikipedia Li Lu, thought by many to be Warren Buffett’s successor as investment manager at Berkshire Hathaway has decided to stay at his own hedge fund, Buffett said. In the wake of today’s surprise announcement that Todd Combs would be joining Berkshire as investment manager, New York Times’ Andrew Ross Sorkin spoke to Buffett: One person… Read More »
In a move that is sure to stun even the most ardent Warren Buffett watchers, Berkshire Hathaway(BRKA,BRKB) announced today that they have hired Todd Combs to “handle a significant portion of Berkshire’s investment portfolio” as an investment manager. Mr. Combs, who has heretofore been largely unknown, has been managing a hedge fund for Castle Point Capital for the… Read More »
Fremont Michigan Insuracorp(FMMH) issued a terse statement today acknowledging receipt of a letter from Sardar Biglari, CEO of Biglari Holdings(BH) earlier this week, proposing to buy all shares of Fremont that Biglari Holdings does not own for $29 per share. Fremont stated that it has asked a Special Committee of the Board to evaluate the offer, and that… Read More »
Last year, before engaging in a prolonged exercise(still not complete) in executive compensation, Bilgari Holdings(BH) made a $24.50 cash and stock bid for Fremont Michigan(FMMH). The bid was almost immediately rejected by Fremont, which then lobbied successfully to have a Michigan law passed making a transaction far more difficult. After many months of silence, Biglari Holdings made public… Read More »