• Warren Buffett’s Berkshire Hathaway took a surprise stake in Barrick Gold earlier this year.
  • The famed investor’s endorsement could spur more investors to bet on the metal, NovaGold chairman Thomas Kaplan said on an earnings call this week.
  • “He’s made it safe for anyone interested in gold to be looking at the gold narrative,” he added.
  • Kaplan previously benefited from Buffett’s unexpected purchase of 130 million ounces of silver in the late 1990s, as it legitimized the metal as an investment.
  • Visit Business Insider’s homepage for more stories.

Warren Buffett’s surprise bet on Barrick Gold has given investors the green light to buy the precious metal, billionaire investor Thomas Kaplan said on NovaGold’s third-quarter earnings call this week.

Buffett “effectively detoxified gold” when his Berkshire Hathaway conglomerate revealed a $564 million stake in the gold miner in August, the NovaGold chairman said.

“He’s made it safe for anyone interested in

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  • Cryptocurrency entrepreneur Justin Sun paid $4.6 million for a charity dinner with Warren Buffett in January.
  • Sun hoped to convert Buffett into a Bitcoin fan, but instead one of his guests, eToro CEO Yoni Assia, embraced Buffett’s value-investing approach.
  • Assia read the definitive book on the subject written by Buffett’s mentor, hired a value-investing consultant, and became a bigger proponent of in-depth research and longer investment horizons, Bloomberg reported.
  • The boss of the social-trading platform also tweeted that value investing is a “hidden magic that reveals itself to you only after 20 years of making 15-20% and compounding it.”
  • Visit Business Insider’s homepage for more stories.

Cryptocurrency executive Justin Sun shelled out $4.6 million for a charity dinner with Warren Buffett in a vain attempt to convert the billionaire investor into a Bitcoin believer. Instead, one of his guests embraced Buffett’s signature value-investing strategy, Bloomberg reported on

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Warren Buffett is growing his real estate brand in North Texas.

His Berkshire Hathaway HomeServices firm is adding Fort Worth-based Alexander Chandler Realty to its franchise network.

The Tarrant County real estate sales firm — which bills itself as Fort Worth’s largest locally owned residential real estate brokerage firm — has 105 agents and one office.

The company will now operate as Berkshire Hathaway HomeServices Alexander Chandler Realty.

“Berkshire Hathaway HomeServices is aligned with the most iconic name in financial security and stability in the world,” Alexander Chandler, president of the brokerage firm, said in a statement. “The parent company is founded by the most successful individual investor in our lifetime.

“There is not another brand that evokes the image of trust, reliability and longevity,” he said. “Alexander Chandler Realty, especially during the largest crisis in 100 years, wanted to align itself with a brand that could help bring certainty

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BNSF, the railroad division of Warren Buffett’s Berkshire Hathaway  (BRK.B) – Get Report named named Kathryn Farmer as its new CEO, making her the first top executive of a major U.S. railroad.

Farmer, 50, will take over as president and CEO at the start of next year, replacing Carl Ice who will retire at the end of the year and remain on the railroad’s board.

“Carl has been critical to BNSF’s success for a very long time. I thank him for his leadership and his accomplishments,” Buffett said in a statement. “We look forward to Katie’s leadership and more success. She possesses all of the qualities that make us excited about the future.”

Farmer, who has worked at BNSF for 28 years, will become the only woman CEO leading one of the four biggest North American railroads.

Under Ice, BNSF has been the sole holdout among major U.S.

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Warren Buffett’s Berkshire Hathaway sold $29 million of stock in Liberty Global. Shares of the video, broadband, and communications company have been underperforming the S&P 500.


Johannes Eisele/AFP via Getty Images

Warren Buffett’s

Berkshire Hathaway

trimmed its investment in Class A shares of

Liberty Global,

a video, broadband, and communications company.

Berkshire Hathaway (ticker:

BRKb

) sold 1.3 million Class A Liberty Global (LBTYA) on Sept. 4 for $29 million, an average price per share of $22.31 each. According to a form Buffett’s firm filed with the Securities and Exchange Commission, Berkshire Hathaway now owns 18 million Class A shares of Liberty Global, whose brands include Virgin Media and Telenet.

Berkshire Hathaway didn’t respond to a request for comment on the stock sale.

As of June 30, Buffett’s firm also owned 7.3 million of Liberty Global’s class C shares, which trade under the ticker LBTYK and are

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  • Berkshire Hathaway’s $570 million bet on Snowflake shows CEO Warren Buffett completely trusts his two portfolio managers, Todd Combs and Ted Weschler, one fund manager says.
  • “Buffett has given full agency to his lieutenants,” Jake Taylor, CEO of Farnam Street Investments and cohost of the “Value: After Hours” podcast, told Business Insider.
  • “A high-profile tech IPO is a resounding confirmation that his actions match his words,” he added.
  • Taylor’s comments echo those of Paul Lountzis, who said the Snowflake investment proves Buffett “totally trusts Todd and Ted” in an interview this week.
  • Visit Business Insider’s homepage for more stories.

Berkshire Hathaway’s plan to invest about $570 million in Snowflake’s IPO shows that CEO Warren Buffett has complete faith in his deputies, Farnam Street Investments CEO and “Value: After Hours” cohost Jake Taylor told Business Insider this week.

“Buffett has given full agency to his lieutenants,” Taylor said, referring

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Berkshire Hathaway CEO Warren Buffett


  • Warren Buffett’s Berkshire Hathaway is set to bet roughly $570 million on Snowflake when it goes public, despite the billionaire investor’s aversion to loss-making tech companies, high valuations, and IPOs.
  • Buffett’s company may be backing Snowflake partly because its last IPO bet paid off.
  • Berkshire invested $340 million in Brazilian fintech StoneCo when it went public two years ago, and its stake has more than doubled in value since then.
  • StoneCo was also unprofitable in the year before its IPO, but it posted $147 million in net income last year.
  • Visit Business Insider’s homepage for more stories.

Warren Buffett’s Berkshire Hathaway plans to plow about $570 million into Snowflake when the cloud-data platform goes public, despite the famed investor’s public disdain for loss-making tech companies, initial public offerings, and sky-high valuations.

The conglomerate’s successful investment in StoneCo’s IPO may partly explain

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Summary List Placement

  • Warren Buffett’s Berkshire Hathaway has cut its Wells Fargo stake to its smallest size in 17 years.
  • The billionaire investor’s conglomerate said on Friday that it owns 3.3% of the company, its slimmest ownership position since 2003.
  • Berkshire owned 13.3% of the bank in 1994, and held more than 500 million shares worth more than $27 billion in 2016.
  • Buffett’s company now holds fewer than 140 million shares, worth about $3.4 billion as of Friday’s close.
  • Visit Business Insider’s homepage for more stories.

Warren Buffett’s Berkshire Hathaway has slashed its Wells Fargo stake to its lowest level in 17 years.

The famed investor’s company revealed on Friday that it has cut its holdings to 136 million shares, representing 3.3% of the outstanding shares in America’s third-largest bank. The last time it owned a percentage stake that small was 2003, according to Buffett’s shareholder letter that year.

Read

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According to Alice Schroeder’s The Snowball: Warren Buffett and the Business of Life, a young Buffett was sometimes heard muttering things to himself like, “Do I really want to spend $300,000 for this haircut?” (H/t to this Wall Street Journal article by Jason Zweig.)

Warren Buffett obviously never spent $300,000 on a haircut. The remark instead refers to the power of compound earnings over time, something Buffett later called “The Methuselah Technique”: The financial advantages of a long life, a high rate of return, and as Buffett wrote in his 1965 Buffett Partnership letter, “a combination of both (especially recommended by this author.”)

Of course he’s right: Where building wealth is concerned, time is your friend. Say you invest $5,000 and receive a relatively conservative 6 percent return. Over time, here’s are the gains on that $5,000:

Clearly time is your friend. But while money spent today is money that

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NEW YORK (Reuters) – Berkshire Hathaway Inc’s $6.2 billion foray into Japan’s five largest trading houses may signal billionaire Warren Buffett’s expectation that inflation and a falling U.S. dollar may make international equities more attractive when economies worldwide recover from the coronavirus pandemic.

FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc’s annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan

Berkshire said late Sunday, on Buffett’s 90th birthday, it owned just over 5% of each of Itochu Corp, Marubeni Corp, Mitsubishi Corp, Mitsui & Co Ltd and Sumitomo Corp, and said it could increase its stakes to 9.9%.

The trading houses, known as sogo shosha with their diversified business lines including commodity exploration, fit the legendary investor’s taste for classic value stocks, which have lost investor favor.

Berkshire investors said

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