Warren Buffett's Berkshire Hathaway Accelerates Acquisitions

Bloomberg:

Billionaire investor Warren Buffett's Berkshire Hathaway Inc., which today agreed to buy Constellation Energy Group Inc., is increasing the pace of deals as debt markets freeze up and stocks fall.

The deal to pay $4.7 billion for Constellation is Buffett's eighth acquisition announced since October, compared with six in the prior 12 months, when the largest was a $350 million purchase of an underwear and pajama company. Omaha, Nebraska-based Berkshire, which had $31.2 billion in cash on June 30, is acting as buyouts by competitors slow amid a worldwide credit crunch.

Read the whole story: Bloomberg

Comments

[Gary47]

The guy with all the money and everything's cheap. Of course he's buying.

[gcallaghan]

Economics was never my strong suit but some years back, Buffet caught my attention - not for the deals he made but for the loyalty he generated among those on the other side of the deals. His perspective is unique for a business mogul, he sees the effects below the bottom line and uses that to guide him. The warmth extended in these pages to him is also a tribute to the man. I doubt he'll ever get this but, thanks, Warren for keeping the bar high.

[ella52]

Can't have it both ways; be a capitalist-based democracy and then be ticked when a businessman who follows the rules, shows good judgement wants to make money.
He shows the best qualities of this type of democracy and if we could trust business to act honorably it would make sense to de-regulate. But we can't. And you notice Buffet and other economic minds have been calling for more regulation so this kind of meltdown doesn't happen again.
There is safety in everyone having to play by the same rules.
Wish he could be secretary of the Treasury.

[BlueZoo]

You cannot fault Warren Buffett! Whie he makes money for himself which, by the way, he gives to charity in the form of the Bill and Melinda Gates Foundation, he's also making money for his investors! They're all happy as clams and probably the very few on the upside in this meltdown of the financials. Good for him! He's doing what the company hired him to do! That's a helluva lot more than many of the vultures crying foul on Wall Street this week!

[SwingingFromCenter]

And this, dear children, is why I would follow Buffett right to the gates of Hades should he ask it.

Or, at the very least, I'd let him take my portfolio with him. My Berkshire stock is the only item in my portfolio that I will never release.

[goobaby]

Amen to that...I feel the same wasy, and I will assume that you have a smile on your face from that beautiful little (and by little I mean huge) jump the stock took upwards today. Bravo Mr. Buffet, Bravo.

[goobaby]

*feel the same way*

[drkazmd65]

If I had money to invest on the scale even approximating Buffet's - I would be doing exactly the same thing.

Amid the chaos, his company is staying calm and snatching up relative bargins. That's exactlly why Berkshire Hathaway Inc. has done what it has done for so long - smart & timely long-term thinking.

[themodernleader]

Buffet is a business opportunist who sees the obvious, that the dollar is going to be as worthless as the German currency of 1928. Therefore, he rushes around making deals for assets that appear to have value. Soon his dollars on hand will be worth the cost of printing. The Bush Bunch are a disgraceful and voracious managers of self-centered greed and power. If the Congress follows their lead we will all end up in a tar pit for archeologists to pore over in ten thousand years.

[ReelBusy]

I'll trade today's dollars for tomorrows Euros or Yen on whatever too.

[Tobiasism]

Let's not forget that Buffett and BH suppport Obama over McCain.

[ReelBusy]

Issues Baby, Issues!
It's all about the McCain "Economy" now.
Game on!

SIDE EFFECTS OF THE MCCAIN ECONOMY (THE "HEAD ON" AD)
http://www.youtube.com/watch?v=dBqs26mpg8o

[530Rose]

And the rich get richer....

[jrb35]

He's giving almost all of his money to charity.

[lachgirl]

I don't know if I would "bless" buffett for these buyouts, but it sure does seem that he had some brilliant foresight somewhere along the line. Or, perhaps, prudence. A great thing to have in an advisor, I believe.

The comparisons between he and Fiorina (who is despised in my part of the country for what she did to HP) are plenty.

[jrb35]

There are no comparisons to be made to Fiorina other than that they both worked in the business world. Buffett supports the estate tax and is giving away nearly all of his money to charity.

[Whatashame]

Obama surrounds himself with smart, intelligent people like Warren Buffet. McCain surrounds himself with Carly Fiorina (almost destroy HP) in the process and ended up getting fired for her INCOMPETENCE.

[pavroviandog]

Why are the HP stockholders not suing her for the 45 million she walked away with????

[Lazslo]

Because they're American.

[akber]

Buffet is an investor, not a gambler. Read his 2002 letter to shareholders - where he calls derivatives 'time bombs' and predicted the situation we are in today. His VP, Charlie, called derivative valuation accounting 'sewage'.

[anopenmind]

Great man and Great Adviser to the Next President of the United States - Bacack Obama!!!

Thanks Warren!

[pavroviandog]

I love Warren---his integrity, common sense, and general moral posture. I hope he is the next SECRETARY OF THE TREASURY in an Obama administration.

[Tom95134]

You have to give Buffet credit for being ready to step in and commit capital when the rest of the financial "wizards" are running in circles and wringing their hands. No I don't think his actions are altruistic, but I do think he understands the need to keep good companies from rolling over and dying just because they made a bad judgment on a small portion of their business.

[CaptainHowdy]

He's not doing anybody any favors other than to himself. He's merely trying to shifting a rapidly devaluating currency into hard assets before that currency is worthless.

Wake up already!

[jrb35]

What are you talking about? Mr. Buffett is giving away nearly all of his fortune to charity (Gates Foundation). Are you suggesting that he should ignore what could be a smart investment? Is he obliged to fail because you're not as successful as he is? He still lives in a modest "middle class" house rather than a mansion. His stock holders are getting richer. Many of them are middle class investors who had the foresight to invest in his company years ago.

You need to wake up already.

[MourningDude]

Does this mean that the fundamentals of the economy are strong, according to Obama's supporter and advisor, Warren Buffet?

[ssgman]

Exactly the opposite, doof.us

[truthyguy]

No, you simpleton. It means that the economy is failing and Buffet is bottom dwelling.

Where are all your republican "economy is fundamental sound" A-holes now? Oh, yes, on the street looking for jobs. Welcome all you newly unemployed republicans to the trickle down economy. Why don't you use some of that good old republican ingenuity and a portion of your unemployment check to start a big new business and provide all those jobs you always talked about that were created by tax cuts to the wealthy?

[Whatashame]

Truthyguy right on.

[KillTheMessenger]

Good time to invest. The US$ will be worth a lot less when all of this is over (that's what usually happens when you print money). But the assets he accumulates will keep and increase their value. He can probably double his wealth (and not just his money) once more in five year's time, maybe faster.