Editor’s Note: Related tickers: Berkshire Hathaway Inc. (NYSE:BRK.A), NV Energy, Inc. (NYSE:NVE), Oracle Corporation (NASDAQ:ORCL), eBay Inc (NASDAQ:EBAY)
Berkshire Hathaway Inc. (NYSE:BRK.A)‘s newspaper division BH Media Group yesterday said it would buy the Roanoke Times from Virginia’s Landmark Media Enterprises for an undisclosed sum. The amount is probably a “very low multiple of current earnings,” which is what Warren Buffett has said he considers an appropriate price for a newspaper. Analysts translate “low” as two to three times earnings. With a daily circulation of 76,000, the Roanoke paper is the newest addition to a stable of 28 dailies that Berkshire Hathaway Inc. (NYSE:BRK.A) has bought in the past year-and-a-half. Other papers include the Omaha World-Herald, the Winston-Salem Journal and the Richmond Times-Dispatch. Berkshire Hathaway Inc. (NYSE:BRK.A) also owns the Buffalo News, but it’s not part of BH Media Group.
Let’s remember: Warren Buffett’s power play is to make money (LasvegasSun)
Shouts of joy rang out among Nevada’s political elite on the news that an entity owned by famed investor Warren Buffett is buying the state’s electric monopoly, NV Energy, Inc. (NYSE:NVE). Here was the response of state Sen. Kelvin Atkinson, Democratic chairman of the Commerce, Labor and Energy Committee, on Twitter: “WOW the (majority leader) and I just got off the phone with Warren Buffett. What a vote of confidence for NV Energy, Inc. (NYSE:NVE) as he aquires (sic) NV Energy, Inc. (NYSE:NVE)! He is excited to be able to do business in the State of Nevada. He was married right here in NV Energy, Inc. (NYSE:NVE), 41 years ago!”
Warren Buffett Is Not Irreplaceable for Berkshire (Fool)
Is Warren Buffett irreplaceable? Can Berkshire Hathaway Inc. (NYSE:BRK.A) continue thriving without its genius leader? Buffett is clearly a unique person and an exceptional business leader, and he will be missed by all those who love the markets and investing … even more by Berkshire investors. However, given the size of the company, and its current approach to investing, Berkshire Hathaway Inc. (NYSE:BRK.A) will most likely continue making great investments and increasing shareholder value in the long term, even without Warren Buffett.
Warren Buffett Doesn’t Care About Keystone XL (DailyFinance)
When TransCanada first announced its plan to construct the Keystone XL pipeline, I’m sure company executives never thought it would wind up as one of the most polarizing environmental symbols in recent memory. Nor could they have predicted that the approval process would take, well, forever. The exceedingly long duration of that process has allowed the Keystone XL to grow from a large pipeline to a larger than life feedstock for environmental, political, and economic arguments, and even a conspiracy theory or two. Some have really taken to the notion, for example, that Warren Buffett has a hand in delaying the pipeline project in order to boost his railroad business.
How Warren Buffett Made His Fortune (InvestorPlace)
Most investors are familiar with Warren Buffet, who is the man in command at Berkshire Hathaway Inc. (NYSE:BRK.A). Buffett is one of the most successful investors of all time, with a net worth placing him somewhere in the top three richest people in the world. His partner in crime was Charlie Munger, who has worked with him for the past 50 years. While most investors are familiar with the story of Berkshire Hathaway Inc. (NYSE:BRK.A), few seem to know how exactly Buffett made his first millions, that catapulted him to Berkshire Hathaway Inc. (NYSE:BRK.A) and the companies and stocks he owns through it.
Warren and Doris Buffett Offer Giving Advice Online (Philanthropy)
Now everybody can get free giving advice from Warren Buffett, and possibly some of his family’s money to give away. Mr. Buffett plans to appear in a six-session online course called “Giving With Purpose,” an offshoot of a series of college programs started by Mr. Buffett’s older sister, Doris, and her grandson, Alex Rozek. Ms. Buffett and her grandson run the Learning by Giving Foundation, which provides $10,000 grants to groups of college students who spend a semester figuring out where to give the money—as well as absorb readings and other instruction about smart giving. The course is now offered at 30 colleges and universities but now will be available free online.
Does Honeywell Pass Buffett’s Test? (DailyFinance)
We’d all like to invest like the legendary Warren Buffett, turning thousands into millions or more. Buffett analyzes companies by calculating return on invested capital, or ROIC, to help determine whether a company has an economic moat — the ability to earn returns on its money above that money’s cost. In this series, we examine several companies in a single industry to determine their ROIC. Let’s take a look at Honeywell International and three of its industry peers to see how efficiently they use cash.
Make Money Like Munger: 4 Tips from Warren Buffett’s Right-Hand Man (DailyFinance)
Charlie Munger is best known as the second-in-command behind Warren Buffett at Berkshire Hathaway Inc. (NYSE:BRK.A). He’s also a world-class billionaire investor in his own right, capable of similar market-trouncing results as Buffett himself. As a successful investor and all around nice guy, Munger often shares his investing wisdom with those who care to listen. Paying attention to what he says and acting upon his best advice should help you make yourself financially comfortable — maybe even rich. With that in mind, here are some of his most pertinent words of wisdom for those who want to invest.
Lunch With Warren Buffett Has Raised Nearly $15 Million for Charity (WSJ)
The annual bidding war for lunch with Warren Buffett begins June 2, and going by recent years, fans will likely cough up millions for the privilege of sharing steak with the Oracle of Omaha and gleaning insights from him. The money raised will go, as in years past, to Glide, a San Francisco-based homeless charity. The auction is in its 14th year and has a floor of $25,000 — an amount that at one time was the winning price for lunch with Buffett. Bidding, which takes place on eBay Inc (NASDAQ:EBAY) -0.51%, typically picks up toward the end of the five-day period. Buffett will dine with the winning bidder and up to seven of that person’s pals at the steakhouse Smith & Wollensky in New York.
