Posts Tagged ‘Warren Buffett’

Democratic billionaire Warren Buffett will get huge profits from Obama’s cancellation of Keystone oil pipeline

Wednesday, January 25th, 2012

Washington Times:

Mr. Buffett’s Berkshire Hathaway Inc. owns Burlington Northern Santa Fe LLC, which is among the railroads that would transport oil produced in western Canada if the pipeline isn’t built.

If completed, the $7 billion Keystone XL would deliver 700,000 barrels a day of crude from oil sands in Canada to Texas refineries on the coast of the Gulf of Mexico. It would traverse about 1,600 miles.

Waiting for the stimulus ‘oomph’ — LA Times opinion

Wednesday, July 8th, 2009

Times:

Should President Obama seek a “second stimulus”?

Billionaire investor Warren Buffett says yes. “It looks like we’re going to need more medicine, not less,” he said last month. “The recovery really hasn’t got going.”

Obama’s top economic advisor, Lawrence Summers, says no. “The [stimulus] policies appear to be working,” he told the Council on Foreign Relations.

The debate over whether the 5-month-old stimulus plan is working is still a little premature, but that hasn’t stopped economists and politicians from jumping into the fray. The most urgent reason for the debate: jobs.

Michael Lewis at The New Republic reviews Alice Schroeder’s biography, ‘The Snowball: Warren Buffett and the Business of Life’

Wednesday, May 27th, 2009

TNR:

There is now a long shelf of books about Warren Buffett, but this is the first time he has gone to any trouble to add to it. Reportedly Buffett now regrets his decision–he has apparently put some fresh distance between himself and his official biographer. If so, it’s not hard to see why. Alice Schroeder is a former Morgan Stanley research analyst, able to understand and to explain Buffett’s money-making, but she declined to confine herself to the business at hand. She has sought to describe Buffett’s psychological landscape as clearly as his financial one. For the reader, the results are pretty terrific–there are not a lot of 838-page narratives that leave you wanting more–but for Buffett they are no doubt upsetting.

Over his long and admirable career, the famous billionaire has been shockingly honest about who he is and what he does. Now along comes this first-time author who insists on seeing his pleasant honesty and raising it, painfully. Even worse: she’s a woman! Buffett has a long and happy history of admitting attractive, intelligent women into his life, which Schroeder describes without mentioning how neatly she fits into the pattern. These women have invariably felt the need to shelter and to protect their man, and to subordinate their own needs to his–until now. Buffett should have known better: you should never completely trust a writer. Especially if she is any good.

Washington Post business columnist Steven Pearlstein: ‘Dear Mr. Buffett: About Those Newspapers . . .’

Saturday, May 23rd, 2009

Column:

I have to say I was surprised by your remark, and not simply because of your lifelong love of the newspaper business. As a “value” investor, you surely must acknowledge that this is the opportunity of a lifetime as far as newspaper investing is concerned. For close to nothing, investors can pick up some of the most respected regional brands in the news business, along with their (shrinking) lists of advertisers and subscribers. They can obtain modern printing presses for a fraction of their original cost. And they are able to hire from a deep pool of talented journalists, pressmen, salesmen and circulation experts desperate for jobs.

Your mentor, Benjamin Graham, was always on the lookout for what he called “cigar butts” — cheap and unloved companies that had been tossed aside but still had a couple of good puffs left in them. If the Los Angeles Times, San Francisco Chronicle, Rocky Mountain News, Chicago Tribune and Boston Globe don’t qualify as “cigar butts,” I can’t imagine what would.

Buffett: would not buy newspapers ‘at any price’

Wednesday, May 6th, 2009

Club for Growth:

That’s what Warren Buffett said over the weekend. He also said, “For most newspapers in the United States, we would not buy them at any price.”