> Warren Buffett Blog: February 2017

Monday, February 27, 2017

One word sums up our country's achievements: miraculous

One word sums up our country's achievements: miraculous.

From a standing start 240 years ago — a span of time less than triple my days on earth — Americans have combined human ingenuity, a market system, a tide of talented and ambitious immigrants, and the rule of law to deliver abundance beyond any dreams of our forefathers.

I mean, we have hiccups in the economy and we even had a panic in 2008. And we had a war during that period that when they started we were losing the war, actually, in the spring of 1942. But this country always comes back and wins. And it's astounding when you think about it, what's happened in 240 years. That is less than three of my lifetimes. And let's look at this place, I mean, there wasn't anything here 240 years ago. And civilization is gone on, you know, for centuries, and centuries, and centuries with people making very little progress in their lives. And then America showed the way and it ... and we have not lost the secret sauce.

Wednesday, February 22, 2017

Selling all Walmart shares

Warren Buffett's Berkshire Hathaway has sold off $900 million of Walmart stock, choosing instead to invest billions in airlines.

The sale, which leaves Buffett with nearly no shares in Walmart, comes as the US's largest traditional retailer has been rushing to catch up to Amazon and other online competitors.

Monday, February 20, 2017

Warren Buffett selling his Laguna Beach home for a cool $11 million profit

Warren Buffett is ready to sell his home in Laguna Beach, California for at $11 million. He bought the house originally in 1971 for $150,000. 

The home, built in 1936 has three levels and has 3600 square feet space. It was remodeled during Buffett’s ownership, sits on a corner lot and has a view of Emerald Bay. 

Buffett mainly resides in Nebraska and said he had previously spent summers and Christmases at the beach house. Buffett also bought a neighboring property. “That became kind of the annex,” he said. He sold the second property in 2005.

Tuesday, February 14, 2017

Warren Buffett believes in Wearable tech and Richline Group

"Jewelry is a centuries-old business that isn't going anywhere, so it's a safe bet. With the addition of technology, we're simply updating something everyone knows and loves to better fit our modern age." - Warren Buffett

Warren Buffett is embracing wearable technology. The billionaire investor, who has been cautious about investing in the tech sector in the past, is diving into wearables with a new smart jewelry line produced by his company Berkshire Hathaway's jewelry subsidiary Richline Group.

The line, dubbed Ela, will debut this spring, starting with smart wristwear—but don't expect to see a smartwatch from the get-go. Ela has been working on elegantly designed smart bracelets and plans to extend into other product categories, including rings and earrings, in the future. 

Ela devices will connect to both Android and iOS devices and share activity data with Apple's HealthKit and Google Fit, although the specific activity sensors that each device will have are unknown. Ela devices will also receive smartphone notifications, and the user can set gems on the device to glow in different colors and vibrate depending on the alert they're receiving.

Cliff Ulrich, product innovation manager for the Richline Group, told ZDNet that a goal was to create devices that are more than just "prettier step trackers." Ela devices will also have their own mobile app with which users can create "memories" that can be shared with a specific device. Content like photos, voice recordings, and songs can be preloaded to Ela devices so that users who are given the device as a gift can open up the content on their smartphones and relive "special memories" they have with the gifter.