Word: buffett
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...months you are: Warren Buffett...
...Houston for Enron leftovers attracted 3,000 people. The most-desired item? The famous "crooked E" that adorned the energy trading company's headquarters; it sold for $44,000. BOTTOM LINES "Yesterday I died. That's bad news for me, but it's not bad news for you." Warren Buffett, chairman of Berkshire Hathaway, quoting from a letter that will tell shareholders his succession plan after he dies "We have to sell our oil. We cannot drink it." Saleh Mansour Al Rajhy, Saudi ambassador to South Korea, arguing that fears of runaway oil prices are overblown "The average...
Because most corporations have policies that prohibit gender discrimination, membership of company officers at Augusta could be viewed as a conflict. Such leading lights as Sanford Weill of Citigroup and Warren Buffett of Berkshire Hathaway are members. So is Kenneth Chenault of American Express, one of a handful of black members at the Georgia golf club. Sources tell TIME that Microsoft co-founder Bill Gates recently became a member. General Electric is still paying the fees for retired chairman Jack Welch, according to papers filed in Welch's divorce proceedings. None of the golfing chiefs are talking: members are required...
ENERGY This industry has been scalded by the Enron scandal. The most compelling values are in natural gas (where Buffett has been buying). Typically, gas-company P/Es are slightly above the S&P multiple. Today the group trades at a 50% discount, Manley notes. Big oil companies don't look cheap, but domestic producers are trading below the market average, including Amerada Hess. Electric utilities are best valued by their dividend yields. Secure yields of 4% to 6%--as with FPL and Public Services Enterprises--are out there...
...those young fans have shown team owners that there is money to be made, and that has attracted a new breed of owner. Investor groups, including the likes of Bill Murray, Jimmy Buffett and Nolan Ryan, have discovered they can get into the game for a relatively small investment. You can buy a whole Class A team for $2.5 million. Even better, the salaries of players and coaches of affiliated teams are paid by the big-league teams. (A Class A minor-league rookie makes $850 monthly.) Half the minor-league teams play in stadiums built or completely renovated since...