From the moment the first headlines crossed the wire this morning, the story has been “Berkshire Hathaway(BRKB) Buying Heinz(HNZ)” or “Buffett Buying Heinz”. That is not at all the case however. 3G Capital, a Brazilian firm known for its investments in Burger King and InBev, is buying Heinz. It will own half the equity...
Read More »
There is rampant speculation this morning after Berkshire Hathaway(BRKA) announced it had repurchased 9200 class A shares from “the estate of a long-time shareholder”. Many are reporting, irresponsibly, in our opinion, that the stake comes from David Gottesman. This makes no sense to us for two reasons. First, Mr. Gottesman, being very much alive,...
Read More »
In an unexpected move, David Sokol, Warren Buffett’s presumed successor as Berkshire Hathaway(BRKB) CEO, has resigned from all of his positions at the company. Buffett made the announcement in a press release he identifies as “unusual”. Sokol, who apparently has attempted to resign before, resigned by letter two days ago, citing his desire to...
Read More »
If it looks like a duck and quacks like a duck, it might just be Sardar Biglari playing dress up. In his continuing effort to pretend to be Warren Buffett, Biglari Holdings(BH) announced this morning that its Board Of Directors had approved a 1-15 reverse stock split. This follows a previous 1-20 reverse split,...
Read More »
As reported previously, Berkshire Hathaway(BRK-B,BRK-A) announced its intention on August 25, 2010 to propose to Wesco(WSC) that it purchase the 19.9% of Wesco it did not already own. This morning, at long last, the two companies have announced a definitive merger agreement. Wesco shareholders will be able to elect cash or stock at what...
Read More »
Image via Wikipedia In the latest step in his effort to mimic Warren Buffett, Sardar Biglari of Biglari Holdings(BH) has proposed to create a new, non-voting class of shares, which existing class A shares could be converted to at a rate of somewhere between 20 to 1 and 50 to 1. The disclosure came...
Read More »
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...
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...
Read More »
It’s July 23, 2000. The Bubble has burst, though bottoms haven’t been reached. The World Trade Center still stands tall. Enron is one of the world’s most respected companies. The New York Times declares Hank Greenberg a better investor than Warren Buffett. As the article points out, over the previous 5 and 10 year...
Read More »
Image by Getty Images via Daylife For years, Warren Buffett has spoken of searching for an elephant of a transaction. Berkshire Hathaway’s(BRKA,BRKB) announcement today that it will be acquiring Burlington Northern Santa Fe(BNI) in a $44 Billion deal represents the final capture of an elephant that has been in Buffet’s sights for several years...
Read More »
