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Warren Buffett: Companies
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[I]n a SEC filing, Berkshire Hathaway, the Warren Buffett controlled company, revealed a 30 million share stake in Ameriprise (AMP), the financial services arm of American Express (AXP). It ... appears the company increased its stake in Home Depot (HD) and Tyco International (TYC) while decreasing its stake in troubled retailer Pier One (PIR) and Shaw Communications, the Canadian communications company.
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(Bloomberg)-The share price of Washington Mutual, the largest U.S. savings and loan, rose the most in almost eight years on speculation that Warren Buffett and Goldman Sachs may invest in the company. Washington Mutual gained $1.80, or 18%, to $11.84
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Warren Buffett is the largest shareholder and chairman of Berkshire Hathaway (BRK.A) (BRK.B). Buffett began purchasing shares of Berkshire Hathaway in 1962, and by 1969 focused all of his attention on running the company until it became one of the largest holding companies in the world. Buffett is known to buy 'wide moat' businesses with attractive and sustainable returns on capital and long term business predictability. He claims he invests only in companies that he understands and therefore has no exposure to technology stocks and is heavily invested in insurance companies. Buffett sees himself as a capital allocator within Berkshire Hathaway, whose primary responsibility is to allocate capital to opportunities with the highest returns. That has recently involved purchasing controlling stakes in companies and maintaining their management teams.
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Warren Buffett is the chairman of Berkshire Hathaway Inc. and is one of the world's wealthiest men. Buffett is known as "the Sage of Omaha" for his remarkable savvy in stock market investments and for the success of Berkshire Hathaway -- the textile company he acquired in 1965 and turned into a holding company for investments in many other businesses. Over the years Buffett bought stock in financial powerhouses like Coca-Cola, Geico Insurance, Gillette, and the Washington Post Company (where Buffett became a board member and close friend of Post head Katharine Graham). Berkshire Hathaway became famously successful: $1000 invested in the company in 1965 would have been worth over $5 million by the year 2000. By the 1980s Buffett was a regular in the Forbes annual list of the world's richest people, and by the late 1990s he was second in wealth only to Microsoft CEO Bill Gates. In June of 2006, with his personal wealth valued at roughly $44 billion, Buffett announced plans to give 85% of his Berkshire stock over time to five charitable foundations, primarily theBill and Melinda Gates Foundation.
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Buffett was Graham's most accomplished disciple. But as the pupil established himself, he began to feel constrained by the mentor's method. For Graham, a business was an abstraction wholly defined by a set of numbers on a page; he had no interest in its products, its management, its personality. But Buffett's boundless curiosity and enthusiasm were not satisfied by the ghoulish exercise of profiting from the last dying gasps of derelict companies. Buffett's yearnings and dissatisfactions did not begin to coalesce into an investment philosophy of his own until he met the blunt-spoken Munger in 1959. The two, closely matched in intellect and outlook, quickly became the closest of partners.
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Warren E. Buffett has been Chief Executive Officer of Berkshire Hathaway Inc., since 1970. Mr. Buffett is a controlling person of Hathaway Inc. Mr. Buffett served as Chief Executive Officer of Salomon Inc. from August 18, 1991 to June 3, 1992 and Chief Executive Officer of Salomon Brothers Inc. from August 18, 1991 to May 27, 1992. He has been Chairman of Berkshire Hathaway Inc., a holding company of See's Candy Shops, Inc. since 1970. He served as Interim Chairman of
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