Tag: warren buffett

TSMC bulls ignore Warren Buffett’s warning for bet on coming artificial intelligence age
18Mar By adminNo Comments
Technology

TSMC bulls ignore Warren Buffett’s warning for bet on coming artificial intelligence age

[ad_1] (Bloomberg) -- The frenzy over artificial intelligence is trumping geopolitical concerns over Taiwan Semiconductor Manufacturing Co., with its record stock rally powering ahead. Foreign investors have boosted ownership of the stock to a two-year high, backing claims by TSMC that AI will be its biggest growth driver this year. The company has more than a 90% share in manufacturing advanced semiconductors used for AI, according to Pictet Asset Management. The turnaround last year — the stock had plunged 27% in 2022 — came after Warren Buffett sold his $5 billion TSMC holdings, citing geopolitical tensions as the reason given its location. Adding to the concerns, the self-governing island elected a US-friendly president Lai Ching-te, putting in power a man Beijing has described as a...
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Bill & Melinda Gates Foundation CEO calls for billionaires to give away more and soon
27Jan By adminNo Comments
Technology

Bill & Melinda Gates Foundation CEO calls for billionaires to give away more and soon

[ad_1] The CEO of the Bill & Melinda Gates Foundation has a message: Hey billionaires, give away more of your money to address inequality and do it soon. Mark Suzman made the call in his annual letter released Thursday that led with the story of Chuck Feeney, a billionaire whose philanthropy inspired Warren Buffett, Bill Gates and Melinda French-Gates. Feeney, who died in October, made a fortune through duty free stores and gave away $8 billion during his life, much of it anonymously.“He showed us all how the actions of one generous person can set the wheels in motion for generations of progress,” Suzman wrote of Feeney. The message is a familiar one from the Gates Foundation, one of the largest global health funders in the world. The foundation recently announced it would spend $8....
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Charlie Munger dead at 99: What Warren Buffett’s vice-chair said on Apple
29Nov By adminNo Comments
Technology

Charlie Munger dead at 99: What Warren Buffett’s vice-chair said on Apple

[ad_1] Charlie Munger, the billionaire investor and the vice chairman of Berkshire Hathaway, has passed away at the age of 99. He would have turned 100 on the new year's day. Munger was highly regarded for his brilliant wit and analysis and was the man behind building up the Warren Buffett-led investment firm to its present gargantuan status. His insights and vision in the technology sector led to the company making pin-pointed investments that paid large dividends. Even though Berkshire came very late to the Apple party, one of the biggest tech firms he bet on was the Cupertino-based tech giant and throughout Munger constantly highlighted how good an investment it was. In fact, it is also the company's biggest investment with 859 million shares purchased worth 148 billion dollars. Let ...
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Sam Bankman-Fried, the fallen wunderkind of cryptocurrency
29Sep By adminNo Comments
Technology

Sam Bankman-Fried, the fallen wunderkind of cryptocurrency

[ad_1] He was the face of cryptocurrency, and a young one at that -- a media darling seemingly destined to unite the sector.But Sam Bankman-Fried's stunning rise to prominence and wealth would be matched by his spectacular fall, and with it that of his platform FTX. In the space of just a few months,  the Massachusetts Institute of Technology graduate with a degree in physics had taken a startup he founded in 2019 and built it up into the world's second-largest crypto exchange platform. He quickly became more than just a young entrepreneur, fashioning himself as an ambassador of crypto and making his first appearance in Congress in December 2021, testifying before lawmakers on the then-novel form of currency.The public would come to know a seemingly oddball whiz kid with a mop of curly ...
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Buffett says Apple is Berkshire portfolio’s best business
7May By adminNo Comments
Technology

Buffett says Apple is Berkshire portfolio’s best business

[ad_1] Warren Buffett said on Saturday that Apple Inc is a better business than any other in Berkshire Hathaway Inc's portfolio."Apple is different than the other businesses we own. It just happens to be a better business," said Buffett during Berkshire's annual meeting in Omaha, Nebraska. Berkshire revealed a $1 billion stake in Apple in May 2016, and by March 2023 had boosted that stake to $151 billion, accounting for 46% of its $328 billion equity portfolio, Buffett has long praised Apple CEO Tim Cook, and viewed Apple less as a technology company and more as a consumer products company with a dominant product, the iPhone, that people want and need.Berkshire has recently held a 5.6% stake in Apple, and Buffett said it could buy more. [ad_2] Source link
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Buffett’s firm buys Apple, slashes chipmaker and bank stakes
17Feb By adminNo Comments
Technology

Buffett’s firm buys Apple, slashes chipmaker and bank stakes

[ad_1] Billionaire Warren Buffett's company added to its already substantial Apple investment at the end of last year while slashing a new investment in computer chip maker Taiwan Semiconductor and two longtime bank holdings.Berkshire Hathaway Inc. revealed several changes to its stock portfolio in documents filed with the Securities and Exchange Commission Tuesday. Many investors follow the company's moves closely because of Buffett's remarkably successful investing record over the decades. Berkshire picked up nearly 21 million more shares in the iPhone maker during the final three months of last year to give it 915.6 million shares at the end of 2022. Buffett has called Apple one of the four giants that drive Berkshire's results even though it is only a stock investment. Berkshire's ...
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WhatsApp, Monkey Bar, Buffett: Banking’s 2022 Winners and Losers
19Dec By adminNo Comments
Technology

WhatsApp, Monkey Bar, Buffett: Banking’s 2022 Winners and Losers

[ad_1] It was a weird year on Wall Street. While capital markets sputtered for much of the year, volatility pushed trading revenues to their highest levels in well over a decade. With inflation running at a 40-year high, banks were forced to set aside billions in credit reserves. That hindered profits even as the Federal Reserve's campaign to tamp down prices — marked by aggressive rate hikes — boosted net interest income for the country's largest lenders. Along the way, firms cajoled even more of their staffers back to the office. Job cuts hit the cryptocurrency and fintech industries, which had long been recruiting workers away from Wall Street. And, following a sweeping probe, regulators cracked down on bankers using messaging apps for banter and other business communications. ...
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Warren Buffett ‘Loves’ China’s BYD Despite Selldown, EV Executive Says
7Dec By adminNo Comments
Technology

Warren Buffett ‘Loves’ China’s BYD Despite Selldown, EV Executive Says

[ad_1] Warren Buffett “loves” China’s biggest electric-vehicle maker BYD Co. and isn’t abandoning it, a senior executive from the company said. Warren Buffett “loves” China's biggest electric-vehicle maker BYD Co. and isn't abandoning it, a senior executive from the company said, despite the legendary investor's Berkshire Hathaway Inc. offloading more than a fifth of its stake this year.“It's very natural for him to get some returns — cash out,” BYD Executive Vice President Stella Li said in an interview Tuesday, in the first high-level public comments addressing the selldown of Buffett's long-held stake in the company. BYD shares jumped 6.9% in Hong Kong on Wednesday morning, hitting their highest since September and among the top gainers on the Hang Seng Index. Berkshire, which firs...
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Warren Buffett-backed BYD Expects Profit to Surge as EV Sales Hit Record on Strong Demand
18Oct By adminNo Comments
Technology

Warren Buffett-backed BYD Expects Profit to Surge as EV Sales Hit Record on Strong Demand

[ad_1] BYD expects its 3rd-quarter profit to climb 365%; Warren Buffett-backed company aims to sidestep snags. Chinese electric-vehicle maker BYD Co. expects its third-quarter profit to climb as much as 365%, as the Warren Buffett-backed company aims to sidestep supply-chain snags and capitalize on strong demand. Net income will be between 5.5 billion yuan ($765 million) and 5.9 billion yuan, the Shenzhen-based company said Monday, which would be a record. BYD is benefiting from making its own batteries and semiconductors, helping it avoid disruptions that have hurt rivals, including Elon Musk's Tesla Inc. Sales volume of new energy vehicles -- including EVs and hybrids -- also reached record highs, BYD said in a stock exchange filing detailing estimated results for the quarter e...
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Warren Buffett led Berkshire Offloads More Shares in Chinese EV Giant BYD
2Sep By adminNo Comments
Technology

Warren Buffett led Berkshire Offloads More Shares in Chinese EV Giant BYD

[ad_1] Warren Buffett’s Berkshire Hathaway Inc. trimmed its stake in BYD Co. even further, offloading another 1.72 million shares as of Sept. 1, according to an exchange filing Friday, just days after the legendary US investor began reducing his holding in China’s biggest maker of electric vehicles. Warren Buffett's Berkshire Hathaway Inc. trimmed its stake in BYD Co. even further, offloading another 1.72 million shares as of Sept. 1, according to an exchange filing Friday, just days after the legendary US investor began reducing his holding in China's biggest maker of electric vehicles. Berkshire's interest in BYD's Hong Kong-listed shares has now fallen to 18.87% from 19.02%, with the latest securities sold for an averag...
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