Word: buffett
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...friend of mine, who shares my weakness for making ill-fated investments, recently bought a share of Berkshire Hathaway. That's the flagship company of Warren Buffett, who recently surpassed Bill Gates as the nation's richest human. Like many of us, Buffett started with a modest bankroll, only he managed to turn his into $13 billion-plus. We've seen oil magnates, real estate moguls, shippers and robber barons at the top of the money heap, but Buffett is the first person to get there just by picking stocks...
...likes, or last year's laggards in the Dow, we could have been sitting on a few shares of Berkshire Hathaway and turned $1,000 into $1 million. That's the return since 1969. I actually owned Berkshire for a stretch in the 1980s but sold it too soon. Buffett himself rarely sells too soon. A key element of his strategy is to buy companies at favorable prices and sit on them. It's the sitting part that Robert Hagstrom says most of us overlook...
Hagstrom is a Philadelphia investment adviser and longtime fan of Buffett's. While other Buffett buffs were waiting for their hero to write a book that explains how he does it, Hagstrom came out of nowhere as a replacement author. The publication last November of his book, The Warren Buffett Way, helped spark a sudden rise in the stock price of Berkshire Hathaway from $16,000 to a record $25,000 a share (this is no penny stock). Since Buffett owns 42% of Berkshire Hathaway, Hagstrom's effort made Buffett $2 billion richer, at least temporarily. This is the biggest...
...show how a prospectus can be improved, Levitt took a typically dense paragraph, shown here, and asked Warren Buffett -- America's most successful stock picker -- to translate it into simple English. Suddenly, the fog lifted...
Maybe that's what the industry should do -- hire Buffett to write all the mutual-fund prospectuses so investors would know what it was they were buying. And here's another idea: if we've got food labels and energy labels, why not an investment label? That's a proposal being floated by the Advocate's office. Fees and commissions, the performance of the fund, the risk rating and a short explanation of the strategy -- including any extra risks the fund is taking with, say, derivatives -- could all be included on the label. Maybe there could also be a generic...