Buffett walks away from the newspaper business with $140 million in cash, and the potential to make another $976 million. I think this deal shows why Buffett is one of the smartest investors around.Read more
Read nonfiction books. When you read for pleasure read non fiction. To make it easier to read begin with areas of knowledge you enjoy. Importantly, Gates posts lists of nonfiction books he reads at his Gates Notes blog.Read more
Companies are likely to pull out of reinsurance because of Climate Change. Under those circumstances, publicly-traded insurers are likely to go private or sell out to hedge funds.
Property owners will face rising premiums because insurance companies operating costs are increasing. Reinsurance firms like Gen Re and Aspen underwrite property and other insurance properties. Consequently, insurers will pass higher reinsurance costs onto policyholders.
In summary, sell the beachfront and forest properties now. Prices for such properties are likely to plummet as insurance costs rise.
Billionaires like Kimmel and Buffett are outliers in Climate Change losses. They can afford to take a loss on beach property, most homeowners cannot.Read more
Bill Gates’ most unusual investment; at least from a tech geek’s perspective is the Canadian National Railway (NYSE: CNI). BlombergRead more
Is Uncle Warren right would single-payer reduce healthcare costs? Maybe; remember we already have single-payer for seniors in the form of Medicare, and it does a lousy job of controlling costs. One reason for this is that the Centers for Medicare and Medicaid are barred from negotiating for prescription drug prices.Read more
General Motors has not made money off vehicle sales in Europe since the 20th Century; an analysis by Karain indicates, yet it waited until March 5 to sell its European Division. That division includes two storied brands Germany’s Opel and Britain’s Vauxhall, a European financing division, 11 manufacturing plants and an engineering center.Read more
Bill Gates has become a real life superhero who is out to save the world from climate change. The MicrosoftRead more
Believe it or not the United States government considers Uber “mass transit.” Americans can use federal tax credits to pay for a ridesharing service called UberPool.Read more
Despite that a lot of investors are looking at Deutsche Bank because it has some similarities to two of the U.S. monster banks that Warren Buffett likes; Wells Fargo (NYSE: WFC) and Bank of America of (NYSE:BAC).Read more
Buffett’s thinking is that Wells Fargo has so much money; it can simply pay whatever fines and lawsuit settlements that stem from the phantom accounts scandal, and still have cash to spare. This seems like an obvious extension of Warren’s famed belief that a good business is one your idiot nephew could run and still make money. Here’s how he described in a 2010 discussion with the FDIC:Read more