Search results for Warren Buffett
Industry
Berkshire Hathaway shares lag rebound, marking worst performance this century after Buffett departure
Berkshire Hathaway has lagged a recent U.S. stock market rebound, posting its biggest relative underperformance so far this year. The S&P 500 broke above 7,100 for the first time, while Berkshire’s A and B shares fell less than 1 percent this month. The stock is more than 12 percent below its record high in May last year. Analysts link the weakness to Warren Buffett’s retirement plan and investor focus on successor Greg Abel.
Finance
Oil and forex risks mount as South Korea steps up internet bank IT controls
South Korea is facing compounded pressure from higher oil prices, a weaker won and rising inflation, with the won-dollar rate nearing 1,540 and oil product prices up about 10 percent from a year earlier. The central bank is expected to hold rates this month, but prolonged price and currency pressures could raise the possibility of a second-half hike. Authorities have tightened household debt controls and pushed market reforms, while the Financial Supervisory Service has urged stronger IT internal controls at internet banks.
Finance
Buffett says banking system strong yet fragile, warns of financial panic contagion
Warren Buffett, chairman of Berkshire Hathaway, warned that the banking system is strong yet structurally fragile and that financial panic could spread in a chain reaction. He said the Federal Reserve should focus above all on maintaining financial-system stability as links between banks and non-bank finance tighten. Buffett pointed to the scale of transactions processed by major institutions and said shocks in one market can quickly spill into others, including private credit.
