Editor’s Note: Related tickers: Berkshire Hathaway Inc. (NYSE:BRK.A), NV Energy, Inc. (NYSE:NVE), Media General, Inc. (NYSE:MEG), Comcast Corporation (NASDAQ:CMCSA), DIRECTV (NASDAQ:DTV), Sinclair Broadcast Group, Inc. (NASDAQ:SBGI), General Motors Company (NYSE:GM), New Young Broadcasting Holding Co Inc (OTCMKTS:NYBH)
Billionaire Warren Buffett‘s giving is being recognized by a group of his fellow philanthropists. Buffett received a lifetime achievement award in philanthropy Wednesday at a private discussion of philanthropy that Forbes magazine sponsored. Not only has Buffett pledged to give away nearly all of his fortune, but Berkshire Hathaway Inc. (NYSE:BRK.A)‘s chairman and CEO has also encouraged others with more than $1 billion to give away at least half their fortunes. Video from the Forbes event (http://onforb.es/186UwKh) shows U2’s Bono singing a version of “Home Sweet Home” that he rewrote in tribute to Buffett.
Eleven Overvalued Warren Buffett Stocks to Sell from Berkshire Hathaway’s Portfolio (247WallSt)
Stock market volatility has returned, and some stocks have sold off enough that they almost appear to be bargains to investors who missed the boat on the way up. As value investors start to look for ample dividend and defensive investments and other cyclical stocks, many will look to see what investment gurus are doing with their money. The stocks inside the Warren Buffett and Berkshire Hathaway Inc. (NYSE:BRK.A) portfolios are often where many investors start to look for value, income and opportunity for the long haul. 24/7 Wall St. has decided to review the Berkshire Hathaway Inc. (NYSE: BRK-B) portfolios to look for opportunities and pitfalls. While we already screened out the “cheapest” Warren Buffett stocks, the review of this guru’s stock portfolio brought up a stark realization.
Buffett utility deal may signal big push to invest cash (TheNews)
MidAmerican Energy Holdings Co, a core part of Warren Buffett’s sprawling business empire, is becoming a favorite way for the “Oracle of Omaha” to invest the billions of dollars of cash on Berkshire Hathaway Inc. (NYSE:BRK.A)’s balance sheet. The unit’s $5.6 billion acquisition of Nevada’s NV Energy, Inc. (NYSE:NVE), announced last week, vaulted MidAmerican to ninth place in terms of US electric utility customers from fourteenth, according to data compiled by Reuters, and fits right into Buffett’s strategy of owning businesses with large, predictable cash flows.
Bono Surprises Warren Buffett With Serenade at New York Event (HollywoodReporter)
The U2 frontman celebrated the Berkshire Hathaway CEO’s philanthropy with an original rendition of “Home on the Range.” U2 frontman Bono surprised uber-wealthy Berkshire Hathaway Inc. (NYSE:BRK.A) CEO Warren Buffett at this year’s Forbes 400 Philanthropy Summit Wednesday night with a serenade dedicated to the philanthropist sung in the tune of “Home on the Range.” Bono introduced his rendition as “the Irish version of the Kansas state anthem” and chuckled good-naturedly through rewritten lines like “Home, home on the range. After Warren gave the whole farm away.”
Warren Buffett-Backed Media General Rises on Young Merger (BusinessWeek)
Media General, Inc. (NYSE:MEG), the TV broadcaster backed by Mario Gabelli and Warren Buffett, rose 34 percent after agreeing to combine with New Young Broadcasting Holding Co Inc (OTCMKTS:NYBH) in a stock deal valuing the companies at $870 million. Media General, Inc. (NYSE:MEG), owner of 18 TV stations, rose to $9.76 at the close in New York, the biggest one-day gain in more than 19 months. The shares have more than doubled this year. The merger highlights the hastening consolidation in local TV, driven by the fees stations and broadcast networks are beginning to extract from cable and satellite operators such as Comcast Corporation (NASDAQ:CMCSA) and DIRECTV (NASDAQ:DTV). Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) has spent more than $1.84 billion in the past two years buying local outlets, expanding its reach to 34 percent of U.S. households, according to Bloomberg Industries.
Why Berkshire Hathaway Likely Bought More GM Stock (247WallSt)
General Motors Company (NYSE:GM) is back on track according to Wall Street and Main Street alike. For that matter, things are good enough that it has now been allowed to rejoin the prestigious S&P 500 Index for the first time since its post-bankruptcy. With news out that Treasury sold 30 million shares, we cannot help but wonder whether or not Warren Buffett’s portfolio managers at Berkshire Hathaway Inc. (NYSE:BRK.A) decided to buy more shares in the US auto maker. News hit ahead of the S&P 500 index addition that the US Treasury is selling another 30 million General Motors Company (NYSE:GM) shares, and wire reports showed after the close that the sale was at a price of $34.41 per share. Another 20 million shares are said to be sold by a UAW retiree health care trust fund as well.
Buffett helps SMSF investors to big returns (FinancialStandard)
The strong performance of legendary investor Warren Buffett has helped some Australian self-managed superannuation fund (SMSF) investors post big returns over the last three years. The first of a number of JBG Structured Investments products linked to the performance of Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A) investment company has matured, returning 42.83% to investors. Buffett is idolised by the global investment community but at $167,000 for a single share in Berkshire Hathaway Inc. (NYSE:BRK.A), the majority of investors are priced out of his much admired investment process.
Is This Warren Buffett-Owned Railway Polluting Water? (WallStCheatSheet)
The Sierra Club has filed a complaint against Berkshire Hathaway Inc. (NYSE:BRK.A) owned railway BNSF Railway Co., accusing the coal shipper of dumping coal into Pudget Sound and other waterways in violation of the Clean Water Act. The Sierra Club is one of the oldest and most influential environmental groups in the U.S. The group filed a complaint in federal court in Seattle saying that coal chunks and coal dust are being dumped into water around Seattle and throughout the state of Washington. They are seeking a court order to prohibit the rail company from carrying coal in uncovered railway cars and are asking the company to pay damages. The group is also suing five other coal shipping railway companies in the suit.
Buffett Rail Rally Defies Analysts Seeing End to Freight Gains (MoneyNews)
Investors are driving railroad stocks to the best start to a year since 2008, looking past downgrades by Wall Street analysts, in a bet that Warren Buffett is right about the carriers’ long-term prospects. A 22 percent surge for the Standard & Poor’s 500 Railroads Index in 2013 is outpacing the S&P 500’s 13 percent jump. The gains are being extended even with the proportion of buy ratings on Union Pacific Corp., the largest U.S. railroad, and Kansas City Southern, the fastest growing, at the lowest since 2010.
