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Warren Buffett: Revealing how much top execs earn isn’t a good idea

“As Ross Sorkin noted, that’s an anomaly: “I always see a number of proxy statements each year” writes David A for cnbc.com. That’s why, on its annual proxy statement to the SEC, Berkshire Hathaway only lists three executives and their pay: Buffett, his business partner Charlie Munger and CFO Marc Hamburg.But, according to Warren Buffett, disclosing compensation has very real drawbacks. In all except Berkshire, the summary compensation table has the compensation listed for at least five or more of the highest paid executives.”. Allowing everyone in a company to…

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Warren Buffett proposed $3 billion Uber investment that fell through, reports say

“Talks over a $3 billion investment from Warren Buffett in Uber Technologies Inc. fell apart earlier this year over terms and the deal size, according to news reports Wednesday” writes Tech Reporter for marketwatch.com. Including a divestiture and a joint venture, the company said it logged net income of $2.5 billion on gross bookings of $11.29 billion.The company announced that several investors will seek to buy $400 million to $600 million of Uber stock at a $62 billion valuation. Berkshire class A stock is down 1.9% this year as the…

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No Legacy Tech, No Problem for Berkshire Hathaway Specialty Insurance

“Roser, who came from insurance firm Markel Corporation, where he was IT head of global insurance, global reinsurance and associated infrastructure” writes Steven Norton Wsj for wsj.com. When Jamie Roser joined Berkshire Hathaway Specialty Insurance in August 2013 as its first full-time IT employee, he had a luxury unknown to most tech executives in the insurance industry: no legacy infrastructure.Roser committed to using a single underwriting and claims platform globally, a decision he says is rare in the insurance industry.Roser, BHSI’s chief information officer, chose Duck Creek Technologies, a provider…

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Home Capital gets new funding to replace Berkshire credit line

“(Reuters) – Canadian mortgage lender Home Capital Group Inc said on Wednesday its unit received a two-year C$500 million funding commitment that would replace a C$2 billion credit facility offered by Warren Buffett’s Berkshire Hathaway Inc “ reports businessinsider.com. Last year, Buffett took a 20 percent stake in Home Capital and provided a C$2 billion credit facility after investors withdrew more than 90 percent of funds from its high-interest savings accounts. “This Credit Facility is better aligned with our current liquidity and funding profile and results in a lower aggregate…

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3 tips Warren Buffett and Charlie Munger once gave a 14-year-old shareholder

“Here are the three pieces of life and financial advice Buffett and Munger shared with the teen shareholder” writes Zameena Mejia for cnbc.com. When Justin Fong was 14 years old, though, he was attending his fourth consecutive Berkshire Hathaway annual meeting as a shareholder.”I read in a book that you prefer talking to young people about life and financial concepts because we still have time to implement them,” Fong said. Source: cnbc.com Share This:

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Warren Buffett bashes Bitcoin, says its surge is due to the cryptocurrency’s mystique

“Buffett said he would be happy to see the Apple share price fall if it would spur repurchases” reports venturebeat.com. (Reuters) — Billionaire investor Warren Buffett on Monday said buyers of bitcoin, which he has characterized as “rat poison squared,” thrive on the hope they’ll find other people who will pay more for it. Source: venturebeat.com Share This:

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Warren Buffett loves stocks, hates bitcoin, gives Elon Musk a shout out, and still won’t use an iPhone

“Warren Buffett left no doubt about the potential he still sees in stocks and his vast skepticism about bitcoin” writes Lacy O’toole for cnbc.com. Berkshire Vice Chairman Charlie Munger and Microsoft co-founder Bill Gates, also a Berkshire board member, slammed bitcoin as well. Munger called bitcoin “worthless, artificial gold” while Gates said he would “short it if there was an easy way to do it.”. At the same time, Buffett again bashed bitcoin, saying the world’s largest cryptocurrency doesn’t produce anything except for more buyers looking to make money by…

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Go to Omaha, young man: Chinese investors flock to Buffett

“There’s real business going on here,” said Les Baquiran, founder of Pinebase, an online financial forum which sponsored several events aimed at Chinese investors in Omaha, including one that drew more than 400 people” writes Midwest Communications Inc for 95kqds.com. At one closed-door event, five groups of U.S. start-up companies presented ideas to Chinese investors in a “Shark Tank”-style forum held at the Nebraska Chinese Association, according to the group’s president, Linda Steele. Source: 95kqds.com Share This:

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Berkshire’s Charlie Munger: ‘Bitcoin is worthless, artificial gold’

“Berkshire Hathaway Vice Chairman Charlie Munger went after bitcoin again on Monday, doubling down on remarks he made about the digital currency over the weekend” writes David A for cnbc.com. “Bitcoin is worthless, artificial gold,” Munger told CNBC’s “Squawk Box.”. His partner, Warren Buffett, also commented negatively on bitcoin on Monday, saying it is an asset that does not create anything. Source: cnbc.com Share This:

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Apple is an ‘amazing’ company with best profit potential in tech, Bill Gates says

“Microsoft co-founder and philanthropist Bill Gates backed Warren Buffett’s decision to up his stake in Apple, saying it is the most well-positioned tech company when it comes to profits” writes Kate Rooney for cnbc.com. Berkshire invested in Apple in 2016 after someone else at the company bought about 10 million shares.”Apple’s an amazing company, and the multiple’s not gigantic,” Gates told CNBC’s “Squawk Box” Monday from Omaha, where Berkshire Hathaway held a weekend of events around Saturday’s annual meeting. Source: cnbc.com Share This:

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