Berkshire Hathaway, the company of billionaire Warren Buffet, saw improvement in profit in their second quarter report. Considering that the company has experienced unprecedented struggles, some industry experts were surprised by the news.
In the second quarter of 2008, Berkshire Hathaway had a net income of $2.88 billion. This year, the second quarter report showed a net income of $3.3 billion — an improvement of more than $400 billion.
Revenue, on the other hand, wasn’t as glowing. Last year, the second quarter generated approximately $30.1 billion in revenue.
In 2009, the revenue was down to $29.6 in the second quarter. The dip in …read more

If you want your children to grow up to be shrewd financial wizards, you may consider letting them watch “The Secret Millionaire’s Club,” starring Berkshire Hathaway chairman and legendary billionaire Warren Buffett. Although the cartoon was supposed to be released three years ago, kids across the country will finally have access to a wealth of money tips courtesy of Buffett himself.
 
“The Secret Millionaire’s Club” is the main focus of a project that is geared toward promoting financial literacy among the earners and spenders of tomorrow. In the cartoon, Buffett will dispense plenty of useful tips that will help kids to …read more

Warren Buffett, the “Oracle of Omaha,” holds a unique shareholder’s meeting each year for Berkshire Hathaway in Omaha.  This year, over 35,000 attendees (shareholders and reporters) listened to Buffett and Charlie Munger talk about the company and many other subject.
Buffett traditionally answers questions from attendees on a wide-ranging list of issues.  This year:

He shared his concern about the future of newspapers,
The possible nationalization of insurance companies.
Reflections on an upturn in the housing market, although at lower prices,
And the value of simplicity.  “If you can’t understand it, don’t invest in it.”

The people who bought derivates should have been listening to that …read more

Billionaire Warren Buffett recently said that the newspaper industry could face the reality of “nearly unending losses” during the annual shareholders meeting for Berkshire Hathaway. While his company owns a few newspapers, his comments paint the picture that he doesn’t see any type of short-term or even long-term turnaround.
The newspaper industry is facing a number of problems. First of all, the national economic woes has companies spending less on advertising, which means less money for newspaper advertising. Secondly, people around the country are opting to save money by canceling their newspaper subscriptions. Next, many other people have turned to the …read more

Warren Buffet, the United States billionaire, remains optimistic in the future of the country. In his annual letter to shareholders of his Berkshire Hathaway, Buffet said that the best years of the U.S. lie ahead.
However, Buffet also warned in the same letter that the economy in 2009 will remain in “shambles” and said it could remain that way for “well beyond”.
Buffet has been chairman and CEO of Berkshire Hathaway for nearly 45 years and his company has just seen the most difficult year in its history. In 2008, the book value of Berkshire Hathaway dropped approximately 9.5%. The only other …read more