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MasterCard Posts 4Q Profit; Buffet’s Berkshire Investing in Swiss Re; Rogers Staying Out of Russia; Ford in Volvo Talks with Geely Auto; Louis Vuitton Misses on Earnings; Brown Refuses to Ban Bonuses; Mortgage Rates Jump; Retail Trade Group Wants Tax Holidays
- MasterCard Inc. (MA) reported better-than-expected fourth-quarter earnings, surprising some analysts given the tightened credit market. For the quarter, the world’s second-largest credit card network earned $243 million, or $1.87 a share, and boosted its revenue by 14.2% to $1.2 billion, Reuters reported.
- Warren Buffet’s Berkshire Hathaway Inc. (BRK.A, BRK.B) is investing 3 billion Swiss francs ($2.6 billion) in Swiss Reinsurance…
Berkshire Bets on More Corporate Belt-Tightening
By Andrew Mickey, Q1 Publishing
It’s getting tough for everyone. Consumers have led the way downward with a new zest for thriftiness that has plunged retail sales into its first decline in years. And all signs point to we’re still on the downtrend of consumer spending activity.
It’s not just consumers though; corporations are taking their licks too. They’re being forced to pass out more pink slips in a few months than most have in the past decade, advertising budgets have been sharply curtailed, and business investment is dropping as well.
But here’s the thing, all of the corporate fat which has built…
11Nov2008 | Q1 Publishing | Comments Off | ContinuedWhat’s the Oracle of Omaha Thinking?
Is Goldman Sachs Truly a Value Investment?
You’ve probably heard that the man considered to be the best investor on the planet, Warren Buffett, has decided to invest $5 billion in Goldman Sachs Group Inc (NYSE: GS) in the form of preferred stock and also warrants to buy another $5 billion in common stock.
If he exercises those warrants he would own as much as 10% of the company. So is this another of his renowned shrewd investments? After all, the “Oracle of Omaha” is legendary for being the chairman and CEO of Berkshire Hathaway (NYSE: BRK.A, NYSE: BRK.B), a conglomerate holding…
26Sep2008 | Oxbury Research | Comments Off | ContinuedBuffett Reignites Berkshire Hathaway with a $4 Billion Spending Spree
Not even Warren Buffett was immune to the stock market’s rampant first-half gyrations, as Berkshire Hathaway Inc. (BRK.A, BRK.B) notched its worst first half in 18 years, with the shares skidding more than 16%. But only a fool would count out the great Oracle of Omaha, who has spent the past several months restructuring his company’s portfolio and is now ready to come out swinging for the year’s second half.
As Money Morning’s Horacio Marquez noted in his most recent “Buy, Sell, or Hold†feature, Berkshire Hathaway has had a tough start for the year.
The company’s net earnings for the first half were…
27Aug2008 | Money Morning | Comments Off | ContinuedEncouraging Economic Outlook From Bernanke and Buffett Boost U.S. Markets
U.S. markets rallied as soothing comments from two of the most influential minds in finance combined to assuage investor fear and push indices higher.
The blue-chip Dow Jones Industrial Average Index gained 195.90 points (1.71%), to close at 11,626.11. The tech-laden Nasdaq Composite Index rose 34.33 points (1.44%), to reach 2,414.71. And the broader Standard & Poor’s 500 Index increased 14.43 points (1.13%), to hit 1,292.15.
Speaking in Jackson Hole, Wyo., U.S. Federal Reserve Chairman Ben S. Bernanke said the effects of the ongoing domestic credit crisis “are becoming apparent in the form of softening economic activity and rising unemployment,” The New York…
25Aug2008 | Money Morning | Comments Off | ContinuedThe One Warren Buffett Biography Every Investor Should Read, New Bio to Debut
There are scads of books on the market purporting to tell the story of investing guru Warren Buffett. I know, because during my days as a business journalist, I read – or at least perused – almost all of them. And as my lovely wife Robin will tell you, most of those now-dusty tomes still adorn my office shelves at home – along with all the other “research materials” left over from my 20 years as a journalist and author.
But we all know that time is a very precious commodity these days, so please allow me to save some of…
25Aug2008 | Money Morning | Comments Off | ContinuedThe Fraud of the Great Moderation
The beat goes on – one sector gets pumped up…and then it gets whacked.
Jim Cramer says he’s never seen anything like it…
Not the crash of Drexel Burnham Lambert in the ’80s…not the Asian currency crisis…not the LongTerm Capital Management blowup…not the dotcom bust…
Now, he says, the mood of gloom on Wall Street just gets worse and worse…with no sign of let up. Thousands of layoffs. Stocks in steady decline.
That makes us a little sad, here at The Daily Reckoning headquarters. We don’t like to kick an industry when it is down…and we like kicking Wall Street.
But you can see why the former Masters…
25Jun2008 | Daily Reckoning | Comments Off | Continued
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