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Warren Buffett buys Apple and sells IBM, opens new stake in Bank of America

“Berkshire Hathaway stock has gained about 1.6% so far this year, while the S&P 500 index SPX, -0.23% has added 15.5%” writes Jeremy C for marketwatch.com. Berkshire bought 679 million shares in Bank of America while slightly cutting its stake in Wells Fargo & Co.BRK.A, -0.56% sold shares in International Business Machines Corp. Source: marketwatch.com Share This:

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‘Panic’ could set in after Saudi purge nabs ‘Warren Buffett of the Middle East’

“Strong fundamentals, positive sentiment and favorable seasonality are likely to keep an already pumped-up stock market on a steady adrenaline rush” reports marketwatch.com. Apple shares are attractive — for value investors with a long horizon, writes Gary Smith.Saudi Crown Prince Mohammed bin Salman’s sweeping purge over the weekend has left investors to ponder — among all sorts of other things — what the tightening of his grip on the Kingdom ultimately means for global markets. Source: marketwatch.com Share This:

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Warren Buffett perfectly describes why the retail apocalypse is dooming Macy’s, Sears, and JCPenney

“Then, when the recession hit, retailers slashed prices in an attempt to draw at least some customers to stores” writes Kate Taylor for businessinsider.com. In “The Essays of Warren Buffett: Lessons for Corporate America,” the Berkshire Hathaway CEO lays out a problem that plagues many businesses: prioritizing short-term goals over long-term success. Source: businessinsider.com Share This:

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Cramer: IBM isn’t a Warren Buffett story anymore after earnings

“IBM has successfully managed to shift the story about its stock from billionaire investor Warren Buffett to earnings, CNBC’s Jim Cramer said Wednesday” writes Berkeley Lovelace Jr for cnbc.com. But, after the company’s earnings, Cramer says the talk surrounding Buffett is over and “the IBM story is back.”. “When it got above $180 we actually sold a reasonable amount of stock,” the billionaire investor added. Source: cnbc.com Share This:

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Warren Buffett decides not to do second wager against hedge funds, citing his age

“The S&P 500 “will absolutely kill every one of the fund of funds,” Buffett said on CNBC’s “Squawk Box” last week” writes David A for cnbc.com. The investor explained why he was so adamant over his advocacy for hedge funds last week.Hedge funds lost out to simple index funds as an economic recovery and extraordinary Federal Reserve stimulus lifted the majority of stocks and assets during this latest run.Warren Buffett, 87, told fund manager Mark Yusko he will not do another bet that a simple S&P 500 index fund will…

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Goldman Sachs has created a ‘brain trust’ to pitch mega deals to the likes of Warren Buffett

“From 2009-2016, Goldman’s annual trading revenue fell by more than $18 billion, or 32 percent, while investment banking revenue rose by $1.3 billion, or 26 percent” writes Olivia Oran for businessinsider.com. (Reuters) – Goldman Sachs Group Inc is betting it can get its money-making mojo back by pitching creative deals to big, complex clients, marking a return to its investment banking roots as trading revenue slows.Analysts expect Goldman to reveal more trading pain when it reports third-quarter results on Tuesday, building on two consecutive quarters of declines.The new “brain trust,”…

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Hedge fund manager some call the next Warren Buffett owns nearly $1 billion of Puerto Rico’s bonds

“Klarman’s hedge fund, Baupost, owns $911 million of the island’s bonds through Decagon Holdings entities, according to a July public court filing” writes Daniel Acker for cnbc.com. The hedge fund manager has largely avoided controversy over his career and is often compared to Buffett for his disciplined investing philosophy and solid returns.Cate Long, founder of Puerto Rico Clearinghouse, told CNBC in an email retail investors own about 75 percent of the island’s debt.COFINA stands for the Puerto Rico Sales Tax Financing Corp. that issues bonds. Source: cnbc.com Share This:

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Investor accepts Buffett’s second wager against hedge funds, believing the timing is right

“Some investors say they are too smooth and therefore ripe for a disruption where hedge funds could thrive” writes Scott Eells for cnbc.com. Hedge funds lost out to simple index funds as an economic recovery and extraordinary Federal Reserve stimulus lifted the majority of stocks and assets during this latest run.The S&P 500 “will absolutely kill every one of the fund of funds,” Buffett said on CNBC’s “Squawk Box” on Tuesday.His firm manages a fund of hedge funds and also does direct and private investments.The investment manager said he is…

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JPMorgan becomes just seventh bank to cover Buffett’s Berkshire Hathaway, calling it a screaming buy

“Despite Berkshire being the sixth-largest company in the S&P 500 by market cap, there are just seven analysts covering the company, according to FactSet” writes David A for cnbc.com. The analyst established a year-end 2018 price target of $210 for Berkshire Hathaway B shares, representing 17 percent upside from Wednesday’s close.The analyst also mentioned Berkshire utility executive Greg Abel is currently the “most likely” successor to replace Warren Buffett as CEO of the company. Source: cnbc.com Share This:

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