Warren Buffett

Obama Talks to Buffett About Economy

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President Barack Obama, preparing for a post-Labor Day speech with plans for stimulating the economy, talked with billionaire Warren Buffett about how to boost job creation and spur growth. “The president and Mr. Buffett discussed the overall outlook on the economy and the reaction to the headwinds we’ve experienced over the last couple of months,” said Josh Earnest, an administration spokesman. “They talked a little bit about some possible measures that would spur investment and increase economic growth and they also talked about some measures that could address the long-term fiscal situation in this country.” Obama placed the call yesterday … Read more

BUFFETT CALLS FOR HIGHER TAXES

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Buffett calls for higher taxes on US Super Rich The wealthiest Americans should pay more income tax and make sacrifice to bring the Nation’s fiscal house in order, Warren Buffett, chairman of Berkshire Hathaway, said Monday. “While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we Mega-Rich continue to get our extraordinary tax breaks,” Mr. Buffett said in an article carried on Monday’s The New York Times. Mr. Buffett noted that he paid 17.4% of his taxable income for the federal income and payroll taxes last year, and the … Read more

Buffett Ready To Bid Debt Ceiling Adieu

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Provided by Yahoo! Finance   Legendary investor Warren Buffett said the U.S. should do away with the debt ceiling, the issue that has recently roiled global equity markets as speculation has intensified that if Congress does not raise the debt ceiling, the “AAA” credit rating held by the U.S. for almost 90 years could be in danger. Buffett wasn’t the first to float the idea of nixing the debt ceiling. Moody’s Investors Service’s did the same in a report published on Monday. Buffett’s Berkshire Hathaway is exposed to the U.S. economy through its equity investments, so it’s not surprising Buffett … Read more

‘ Against Double Recession -Bloomberg

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Buffett Says ‘Bet Heavily’ Against Double Recession (Bloomberg) — Warren Buffett, chief executive officer of Berkshire Hathaway Inc., talks about the debt ceiling debate and the U.S. economy.     Buffett, speaking with Betty Liu on Bloomberg Television’s “In the Loop,” also discusses his views on acquisitions, the labor market and Todd Combs. (Source: Bloomberg)   I pay a lot of attention to what Buffett says about the economy because he is the most connected man in America.  If you look at an interlocking network diagram of corporate boards, all roads lead back to Warren Buffett.  There’s little that goes on in … Read more

Warren Buffett’s Portfolio – Shocking Truth About How He Trades Options

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By Kirk Du Plessis I’ve told people for years and years that Warren Buffett’s portfolio and Berkshire Hathaway company publicly discloses that they are naked put option sellers. More specifically they sell index put options, the exact same strategy we use here at Option Alpha. Why Is This So Shocking? Honestly I always get a weird response when I tell people this. Why is it so shocking to think that one of the best investors of all time my use the same strategy that I prefer. Well, I guess I’m using his strategy and not the other way around right? … Read more

Market may have further to go on the downside

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Bearish chart  The S & P 500 closed down 1.19% Monday on any number of growing anxieties.  We are oversold on a short-term basis but the RSI line is picking up momentum on the way down.  Not good.  Besides the 50 day moving average has been convincingly broken.  Interesting enough Berkshire Hathaway stock is now down for the year. It kind of looks like my broken position in Wells Fargo which is also one of BRK.A’s largest positions. The last year Buffett’s Berkshire Hathaway was negative and the S&p 500 had positive returns was 1999.   There was also massive Internet … Read more

Wells Fargo- How to Rob the Bank

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I originally alerted readers of the Sax Angle to a profitable trading opportunity on Wells Fargo stock.  See Two new insider buys today piqued my interest for the details of that post.  Since then we have nearly doubled our money on two options we purchased, the June 30 calls and the May 30 calls.  Both options looked cheap and after today’s move in Wells Fargo, they look even cheaper.  What we mean by that although the options are nearly twice the price, the chart of Wells Fargo is far more bullish than it was when we first invested.  Needless to say, we did not sell and actually are buying more.  We first noticed Wells Fargo after the new CFO picked up 10,000 shares following its recent earnings report.  When we bought it the stock was oversold and the technical picture hadn’t set up so well.  It now looks much stronger.

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Recently Discovered Video Interview with Seth Klarman

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For those who don’t know Seth Klarman, here’s some brief info from Jacob Wolinsky at Valuewalk:

Seth Klarman is undoubately one of the greatest investors of our time. Klarman manages Baupost Group, the 11th largest Hedge Fund in the US, with over $20 billion in assets.  There is a rumor that Buffett, (a big fan of Klarman) keeps a copy of Klarman’s out of print and super expensive book Margin of Safety, by his bed. Seth Klarman’s Baupost fund has produced returns of approximately 20% annually since inception in 1983. Klarman has produced phenomenal returns despite the fact that he usually holds huge amounts of cash.

According to a lecture given by Bruce Greenwald: Warren Buffett says that when he retires, there are three people he would like to manage his money. First is Seth Klarman of the Baupost Group, who you will hear from later in the course. Next is Greg Alexander. Third is Li Lu.

Below are the videos (6 in total), enjoy:

[youtube=http://www.youtube.com/watch?v=u0aRiDI1wnk&feature=related&w=400&h=300]

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