> Warren Buffett Blog: May 2014

Thursday, May 29, 2014

Warren Buffett base salary

Buffett for many years has had one of the lowest base salaries of a CEO of a company listed in the S&P 500. His base salary is $100,000. Buffett's salary for leading Berkshire hasn't changed in more than 25 years. 

Warren Buffett's vast majority of wealth comes from ownership stake, not salary as CEOs

Tuesday, May 27, 2014

Warren Buffett helps the needy

When Warren Buffett announced in 2006 that he would give away his billions, he was flooded with individual requests for help that still flow in today.

Instead of tossing the letters aside, Buffett packages them up and sends them to his big sister Doris. With the help of seven women, her Sunshine Lady Foundation scrutinizes each request to find people who have come upon bad luck through no fault of their own.

"She just believes that a lot of people got short straws in life, and she wants to help them," - Warren Buffett

via - http://www.huffingtonpost.com/2014/05/27/warren-buffet-philanthropy_n_5397530.html?utm_hp_ref=politics&ir=Politics

Thursday, May 22, 2014

Warren Buffett latest investment changes

For Quarter 1 of 2014, Berkshire Hathaway's US long stock portfolio increased from $104.84B to $105.77B. 

The majority of existing positions were were left unchanged, however there were some incremental purchases and a few sells. Buffett continues to hold a very concentrated portfolio. The top-five positions account for 65.89% of the portfolio. 

The largest position remained the same as last quarter - Wells Fargo & Company at a whopping 21.73% of the US long portfolio -

Wednesday, May 21, 2014

Warren Buffett on stock predictions and forecasting

Forecasts may tell you a great deal about the forecaster, they tell you nothing about the future. If that is the case, what is the point of financial punditry at all? 

Monday, May 19, 2014

Warren Buffett business acquisition quote

We want businesses to be one that we can understand, with favorable long-term prospects, operated by honest and competent people, and available at a very attractive price.

Wednesday, May 14, 2014

Buffett admits his weakness in personnel changes

A pure weak point is, I'm slow to make personnel changes. There will be times when what you might call our lack of supervision of our subsidiaries means we'll miss something.

We had a guy, we loved the guy, and it wasn't killing us in our business, and how long before we went to somebody else. We've waited too long on one manager sometimes

Monday, May 12, 2014

Berkshire could acquire Intero Real Estate in California

Berkshire Hathaway is close to acquiring Intero Real Estate Services, the Silicon Valley residential brokerage powerhouse, according with industry sources familiar with the transaction.

Terms of the Intero deal were still sketchy, but Berkshire Hathaway has been beefing up its position in residential brokerage through a new brand called Berkshire Hathaway HomeServices, and is aiming to take it national. According to Bloomberg, Berkshire's HomeServices has bought eight brokerages in the past two years.

Intero, founded in 2002 and based in Cupertino, CA expanded quickly and today has more than 60 offices with a combined sales volume of $8.7 billion in 2013. 

Friday, May 9, 2014

Warren Buffett thanks Hank Paulson, Ben Bernanke, Tim Geithner

In 2008, our [economy and financial] system was saved by a few people. We would be living in a much different country today had it not been for Hank and Ben Bernanke and I would say Tim Geithner, too.

Tuesday, May 6, 2014

Buffett interested to see how the Fed exits from QE

Warren Buffett on his concerns for the Fed's exit from QE monetary stimulus

Well, I said it's a really interesting movie because the stakes are high and we don't know the ending. But I would say that's still the situation. But so far we haven't seen any big problems associated with it.

I don't know how it comes out. That's why I find it so interesting.

Monday, May 5, 2014

Warren Buffett on outsourcing

It has just gotten way out of hand because tax rates are so low in certain countries. 

And there are some companies, particularly when you are dealing with intellectual property, where you can set up a rationale to say your earnings are taking place in Ireland or Bermuda or something like that, when they are really originating in large part here. Those companies pile up huge cash balances overseas, and then they say, Give us a tax free period and we will bring it back. But that would of course just induce them to do more of that over there once they find out they can get away with it. It's a crazy situation, but it has developed over the years. That part of the tax code has really got to be looked at hard at some point.

Thursday, May 1, 2014

Warren Buffett dedicated to Berkshire

I will do anything that is basically covered by the law to reduce Berkshire's tax rate. For example, on wind energy, we get a tax credit if we build a lot of wind farms. That's the only reason to build them. They don't make sense without the tax credit.