Warren Buffett offers advice on investing and life (NDTV)
Billionaire Warren Buffett dispensed plenty of advice on investing and life during this weekend’s Berkshire Hathaway Inc. (NYSE:BRK.A) shareholders meeting. The wisdom Buffett and his investing partner Charlie Munger offer is part of what attracts more than 30,000 to the meetings each year. …Buffett and Munger told shareholders that successful investors must learn all they can about the businesses they are buying and stick to industries they know, but the right temperament is also important. “You just have to avoid getting excited when other people are excited,” Buffett said. Admittedly, it’s hard to continue to make rational decisions about investments when the stock market is soaring, but it has proven profitable for Berkshire Hathaway Inc. (NYSE:BRK.A).
Savers suffering ‘brutal erosion’ of their money (Independent)
The veteran investor Warren Buffett has warned that savers and bondholders are suffering a “brutal” erosion of their money as the US Federal Reserve and other central banks force yields to historic lows. “I feel sorry for people that have clung to fixed-dollar investments,” he told investors at Berkshire Hathaway Inc. (NYSE:BRK.A)’s annual meeting in Nebraska. Mr Buffett, right, defended the emergency stimulus of Ben Bernanke, the Fed chairman, saying the “consequences would have been terrible” if the authorities had failed to act, but said those nearing pension age had paid the price.
Berkshire reports a 51 percent increase in profit as insurance, investments perform well (WashingtonPost)
Berkshire Hathaway Inc. (NYSE:BRK.A)’s first-quarter profit jumped 51 percent as its insurance companies performed well and the value of its investments soared. Warren Buffett’s firm said Friday it earned $4.89 billion, or $2,977 per Class A share. That’s up from last year’s $3.25 billion net income, or $1,966 per Class A share. The Omaha-based conglomerate said its revenue grew 15 percent to $43.87 billion over last year’s $38.15 billion. The earnings report was released as thousands of Berkshire shareholders were gathering in Omaha for Saturday’s annual meeting. Berkshire officials don’t generally comment on quarterly earnings reports, and no one responded to a message Friday about the first-quarter results. But Buffett will likely discuss the earnings report briefly at Saturday’s annual meeting.
Why Warren Buffett Won’t Get More Women on Boards (BusinessWeek)
Berkshire Hathaway Inc. (NYSE:BRK.A) shareholders take heart: With Warren Buffett officially adding a third woman to his 13-person board at the annual shareholders meeting on May 4, the company’s choppy performance of recent years could improve. Studies show that three is the magic number at which women cease to be an oddity in the boardroom and change the dynamics in a way that leads to better governance and better results. One of those studies came out in 2010 from recruiter Heidrick & Struggles International, Inc. (NASDAQ:HSII) and WomenCorporateDirectors (WCD), a network of more than 2,000 women serving on boards worldwide. Their members were probably pleased to see a piece by Buffett in this week’s Fortune that called on “fellow males” to better deploy the talents of women. While the Sage of Omaha was lamenting the “gender-related self-doubt” that nagged at such friends as the late Katharine Graham, some 250 women directors were in New York to network and share best practices at WCD’s third annual global institute.
