Warren Buffett has revealed a deal that defines his optimism in America’s future, spending $26.6b to buy out America’s second biggest railroad.
Warren Buffett
Padley got it wrong on fees
Crikey regular Marcus Padley may think a fee of 2% of an asset to a fund manager represents a good deal, but charging 2% to actively invest on behalf of clients is a grotesque rip-off.
Buffett edgy on over-stimulated debt
The Berkshire Hathaway CEO, legendary investor Warren Buffet, has warned of the dangers of excessive fiscal stimulus and the dire effects of an ever-increasing public debt.
Who says Buffett lunches are cheap and nasty?
An anonymous punter has won the right to pick billionaire Warren Buffett’s brains over lunch — and to pay $US1.68 million for the pleasure. Calm down, it’s for charity.
The media’s love affair with celebrity economists
Being rich and successful doesn’t prevent anyone from being wrong. Then why are we still listening to high-profile financial gurus, like Warren Buffett?
Filthy rich people meet in secret to solve GFC
Earlier this month Bill and Melinda Gates, Oprah, Ted Turner, Warren Buffett and others met in New York City in secret to try and figure out how to solve the GFC.
Canwest countdown clock ticking
We’ll soon know whether Canwest Global, the parent of the Ten Network, is going to survive yet again, or be put out of its misery.
Buffett calls time on the newspaper era
As Warren Buffett delivered his obituary for newspapers over the weekend, Australia’s mastheads were still in a state of denial.
Goldman Sachs’ profit con job
The rebound in Goldman Sachs shares was the result of some tricky fiddling of the numbers rather than the fundamentals.
Buffett stakes his claim on electric cars (maybe you should)
Why Buffett’s banking on an obscure Chinese electric car company and a CEO who — no joke — drinks his own battery fluid.
US economy takes Pythonesque turn
Warren Buffett bailed out luxury geegaw flogger, Tiffany’s this week by buying $US250 million of the struggling jeweller’s debt, writes Glenn Dyer.
Private equity freezes over
Less than two years ago, private equity was the new black, but the collapse of Australian Discount Retail indicates its reign is all but over, writes Adam Schwab.
Questioning Buffett’s “show of faith” in Goldman Sachs
On the surface of things, Warren Buffett’s buy into Goldman Sachs seemed canny. But might it come to be a burden? Adam Schwab investigates.
Has Warren Buffett’s Goldman Sachs grab saved US finance?
Warren Buffett has bought a $5bn piece of Goldman Sachs, and in so doing has improved the mood of Wall Street. Is it the turning point the US economy has been waiting for?
Mars megadeal a sign of market recovery
The worst of the credit crunch seems to be over, as Mars takes over Wrigley … with a little help from Warren Buffett, reports Glenn Dyer.
Briefly Business: Retail price raids in Britiain and Stokes flashes the Monet
British competition watchdog probes retail price fixing … Buffett warns US recession will be tougher than expected … Kerry Stokes flashes the Monet.
Morning Market Report
The highlights and lowlights of this morning’s sharemarket activity.
Misplaced optimism at United Group and JB Hi Fi
In consecutive days, market darlings, United Group and JB Hi Fi have “disappointed” investors with profit increases of 46 percent and 49 percent respectively. One thing that Leupen and Uechtrtritz may be guilty of is failing to dampen investor over-enthusiasm regarding their respective share prices, writes Adam Schwab.
Centro trading halt has investors fearing the worst
Centro’s trading halt is just part of the extraordinary global credit crunch which saw some more remarkable developments over night, writes Stephen Mayne.
Telstra cops whack from shareholders over remuneration report
Telstra’s board has been given an almighty whack by shareholders, with more than 66 percent of them casting a non-binding vote against the company’s poorly disclosed remuneration report, writes Adam Schwab.
The problem with giving CEOs short-term bonuses
Outgoing Merrill Lynch CEO Stanley O’Neal’s was a true American rags-to-riches tale. The African-American son of a factory worker grew up in poverty, attended Harvard and rose to become CEO of one of the world’s largest brokerages, writes Adam Schwab.
Suncorp slapped down by shareholders
The board of Suncorp received a slap in the face from shareholders, with a record 41% of proxies being cast against the banks remuneration report at yesterday’s Annual General Meeting, writes Adam Schwab.
We’ll all be rooned, said Costello
Peter Costello at it again, predicting a “huge tsunami” is set to engulf financial markets. And that’s why the Reserve Bank shouldn’t lift interest rates. Or something like that, writes Michael Pascoe.
Morning Market Report
The highlights and lowlights of this morning’s sharemarket activity.
