Showing posts with label Warren Buffett. Show all posts
Showing posts with label Warren Buffett. Show all posts
Saturday, November 12, 2016
Buffett after Trump Win: '100%' Optimistic about America
Thursday, September 10, 2015
Al Qaeda Mag Urges Attack on Koch Brothers, Buffett, Bloomberg
The list in Inspire magazine also included industrialist brothers Charles and David Koch, internet entrepreneur Larry Ellison, casino magnate Sheldon Adelson, economist Robert Shiller, and former Federal Reserve chairman Ben Bernanke. Not mentioned is Janet Yellen, who succeeded Bernanke as Fed chairman.
Also pictured was Jim Walton, one of the heirs to the Wal-Mart fortune, although he was misidentified in the caption as his late father, Sam Walton. Several other names on the list were misspelled.
The slickly produced magazine article begins with a photo illustration showing blood-spattered pictures of several of the leaders next to a dripping gun. Its stated goal is to derail the "revival of the America Economy."
The article says the "economic personalities" and "wealthy entrepreneurs" can get off the list by withdrawing their money from U.S. banks, investing their wealth outside American soil, and denouncing support for Israel.
Shiller, a Nobel Prize winner, said he was shocked to learn his name was on the list.
"Why me? I am non-plussed. Why I am included?" he said. "I was just in Istanbul for an Islamic finance forum, part of the G20. I quoted Mohammed. I'm sympathetic to the Islamic community." » | Robert Windrem and Tracy Connor | Wednesday, September 9, 2015
Wednesday, August 04, 2010
THE GUARDIAN: Bill Gates's and Warren Buffett's campaign draws in top names including George Lucas and Michael Bloomberg
The world of philanthropy got a huge financial boost today as more than 30 American billionaires pledged to give away at least half of their fortunes to charitable causes, signing up to a campaign launched by Warren Buffett and Bill Gates.
In an unprecedented mass commitment, top figures including New York's mayor Michael Bloomberg, the hotel heir Barron Hilton, CNN media mogul Ted Turner, and the Star Wars director George Lucas lent their names to the "giving pledge", an initiative founded last month to encourage America's richest families to commit money to "society's most pressing problems".
The pledge is not a legally binding contract but is described as a moral commitment. Buffett, the legendary Nebraska-based financier known as the "sage of Omaha", welcomed the influx of support: "At its core, the giving pledge is about asking wealthy families to have important conversations about their wealth and how it will be used. We're delighted that so many people are doing that." >>> Andrew Clark in New York | Wednesday, August 04, 2010
Picture Gallery: US billionaires to give away fortunes to charity: Forty of the richest families and individuals in the US have committed to give the majority of their wealth to charitable causes by taking the 'giving pledge', a campaign launched by Bill Gates and Warren Buffett >>> | Wednesday, August 04, 2010
Wednesday, March 11, 2009
THE TELEGRAPH: The number of billionaires across the globe slumped by almost a third in the last 12 months as many of the world's richest men and women fell victim to the economic recession.
Those worth over £1billion fell from 1,125 in 2008 to just 793, as a combined $2.4 trillion (£1.74 trillion) was wiped off the value of their collective 2008 $4.4 trillion fortune.
As a result, the average billionaire saw their net worth fall from $3.9bn to $3bn in the year, as the value of investments, property and other assets all plunged.
The annual survey of who's who and who's worth what in the upper echelons of the world's entrepreneurial classes, the just-released Forbes 2009 World Billionaires list reveals the damage that has been wreaked on the fortunes of many.
Warren Buffett, the richest man in the world last year with a fortune of $62bn, lost $25bn as a result of declines in the value of his investments, many of which are in the insurance and financial sectors which have been hardest hit by the global recession.
Taking his crown is Bill Gates, who, in spite of reclaiming the top spot in the annual Forbes survey after a year's absence, still saw his Microsoft fortune fall by almost a third, down $18bn to $40bn. Number of World Billionaires Slumps by a Third >>> By James Quinn in New York | Wednesday, March 11, 2009
leJDD.fr:
Galerie de photos: Les riches deviennent moins riches: Comme chaque année, le magazine Forbes publie son classement annuel des grandes fortunes mondiales. Le crû 2008 a un petit air de crise. >>> | Jeudi 12 Mars 2009
BBC:
Watch BBC video: Billionaires Drop Off Rich List: The financial crisis is taking its toll on the world's richest people, wiping 332 names off the Forbes Magazine's 'rich list' of world billionaires. >>> Caroline Hepker | Wednesday, March 11, 2009
The Dawning of a New Dark Age – Paperback (US) Barnes & Noble >>>
The Dawning of a New Dark Age – Hardcover (US) Barnes & Noble >>>
Tuesday, March 10, 2009
TIMES ONLINE: Warren Buffett said yesterday that the US economy had “fallen off a cliff”, describing the current crisis as “an economic Pearl Harbor” as concern spread about the US Administration’s fitful attempts to halt the collapse of the American banking sector.
The leading investor, an informal adviser to President Obama whose financial diagnoses are widely respected – even though he conceded that he failed to predict the severity of the crisis – said that the economy had come “close to the worst case” imagined, and that recovery would be slow.
Mr Buffett, a multibillionaire, said that the entire banking sector had been hours from collapse in September, and would have imploded without the $700 billion Wall Street emergency bailout.
Mr Buffett also spoke of the growing fears over Mr Obama’s muddled approach to the central issue in solving the economic crisis: what to do with the banks’ $2 trillion of toxic debt that is threatening the collapse of the financial sector. Mr Obama and his Treasury chief, Timothy Geithner, have said that they do not want to nationalise any banks but they are coming under increasing pressure after massive and repeated injections of cash into crippled financial giants such as Citigroup, Bank of America and AIG have failed to stem losses. >>> Tim Reid in Washington | Tuesday, March 10, 2009
AOL: Warren Buffett Says Economy Fell Off Cliff
OMAHA, Neb. - Billionaire Warren Buffett remains confident that America's best days are ahead, but he says the nation likely will face higher unemployment and eventually inflation because of the current economic crisis. Buffett said the nation's leaders need to emphasize a consistent message, and they should support President Barack Obama's efforts to repair the economy because fear is dominating Americans' behavior.
Buffett said the economy has basically followed the worst-case scenario he envisioned six months ago.
"It's fallen off a cliff," Buffett said Monday during a live appearance on cable network CNBC. "Not only has the economy slowed down a lot, but people have really changed their habits like I haven't seen."
Buffett said the changes are reflected in the results of Berkshire Hathaway Inc.'s subsidiaries. He said Berkshire's jewelry companies have suffered, but more people have been willing to switch to Geico to save money on car insurance. The three-hour-long interview aired from another Berkshire subsidiary that has been hampered by the economy, the Nebraska Furniture Mart store in Omaha.
He predicted that unemployment will climb a lot higher before the recession is done, but he also reiterated his optimistic long-term view: "Everything will be all right. We do have the greatest economic machine that man has ever created."
Fear and confusion have been driving consumer and investor behavior in recent months, Buffett said.
The nation's leaders need to clear up the confusion before anyone will become more confident, and he said all 535 members of Congress should stop the partisan bickering about solutions. He said politicians should also stop trying to use the current economic crisis to force through other policy changes.
"We ought to defer most of the things that get people riled up," Buffett said. >>> By Josh Funk, AP | Monday, March 9, 2009
CNBC: “Economy Has Fallen Off a Cliff”
The Dawning of a New Dark Age – Paperback (US) Barnes & Noble >>>
The Dawning of a New Dark Age – Hardcover (US) Barnes & Noble >>>
Tuesday, May 20, 2008
The Dawning of a New Dark Age (Paperback – USA)
The Dawning of a New Dark Age (Hardcover – USA)
Sunday, October 21, 2007
NEWSMAX.COM: The Sage of Omaha has real worries about the U.S. dollar.
It is no surprise that billionaire stock investor Warren Buffett continues to flee the U.S. dollar as he pours billions into foreign currencies.
Last year [2003] Berkshire Hathaway, Buffett’s holding company, reported it had placed some $12 billion in foreign currencies.
Now Forbes reports that Buffett continues to exit dollar investments, and Berkshire Hathaway holds some $20 billion in foreign currencies.
Buffett has used foreign currencies as a hedge against his weakly performing U.S. portfolio.
According to the New York Times, the firm reversed a second quarter loss and gained $412 million between July and September, after increasing its share of foreign currency contracts from $12 billion at the close of 2003 to $20 billion now.
Buffett managed to do that by betting the dollar would decline, and it has.
In fact, it has recently hit record lows against the euro, and experts who spoke to the Times believe the decline will continue, possibly for years.
"In 2002, we entered the foreign currency market for the first time in my life, and in 2003 we enlarged our position as I became increasingly bearish on the dollar," Buffett told investors in a letter in last year's annual report.
He remains bearish on the dollar even now.
Recently Buffett spoke with Forbes, who described him as full of “doom and gloom” for the dollar.
For one thing Buffett fears the $10 trillion of the U.S. economy owned by foreigners.
As they continue to exit the dollar, it could wreak havoc. “If lots of people try to leave the market, we’ll have chaos because they won’t get through the door,” Buffett told Forbes.
Buffett believes that a the dollar fall off “could cause major disruptions in financial markets.”
Today, Buffett continues his strong position in the euro, sterling and six other currencies. Warren Buffett Warns of Financial 'Chaos' (more) By Jon E. Dougherty (December 28, 2004)
Mark Alexander
Thursday, June 28, 2007
TIMESONLINE: Warren Buffett, the third-richest man in the world, has criticised the US tax system for allowing him to pay a lower rate than his secretary and his cleaner.
Speaking at a $4,600-a-seat fundraiser in New York for Senator Hillary Clinton, Mr Buffett, who is worth an estimated $52 billion (£26 billion), said: “The 400 of us [here] pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If you’re in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.”
Mr Buffett said that he was taxed at 17.7 per cent on the $46 million he made last year, without trying to avoid paying higher taxes, while his secretary, who earned $60,000, was taxed at 30 per cent. Mr Buffett told his audience, which included John Mack, the chairman of Morgan Stanley, and Alan Patricof, the founder of the US branch of Apax Partners, that US government policy had accentuated a disparity of wealth that hurt the economy by stifling opportunity and motivation. Buffett blasts system that lets him pay less tax than secretary (more) By Tom Bawden
Mark Alexander
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