The most successful investor of the 20th century, Warren Buffett vowed to spend double the current outlay of Berkshire Hathaway Inc. on wind and solar power in the U.S yesterday. At the Edison Electric Institute’s annual convention in Las Vegas yesterday, Buffett not aware of how much they has committed earlier, briefly stopped to enquire [...]
The confidence is back as several mergers have been announced. And what is more, the acquisition of Heinz was announced. Warren Buffett and Jorge Paulo Lemann decided to go into the ketchup business by acquiring H.J. Heinz Co. for over $23 billion. The acquisition of Heinz is believed to be the biggest takeover in the history of the food industry.
Warren Buffett was diagnosed Tuesday with prostate cancer, a development that would probably heighten the questions over his successor as the chief executive of his corporation, Berkshire Hathaway. However, Mr. Buffett has made it very clear that he would continue to run his corporation, writing to shareholders that the disease was in Stage 1 and that he had been told by doctors that it was not remotely life-threatening or even debilitating in any meaningful way.
One of Buffett’s favorite topics of discussion of late has been gold. He loves talking about investors’ fascination with gold and with cash (in the form of bonds), as per most of the business news. Warren Buffett characterizes gold as one of the assets ‘that will never produce anything, but that are purchased in the buyer’s hope that someone else – who also knows that the assets will be forever unproductive – will pay more for them in the future’.