Buffett's Firm Berkshire Hathaway Sees Profits Triple

BBC NEWS :

Berkshire Hathaway said its net profit was $3.2bn (£1.9bn) in the three months to September, compared to $1.1bn in the same period last year.

Read the whole story: BBC NEWS

Comments

[Vyvjala]

What next, "The United States of BUFFETT!"

[StockMarkets]

No more bailouts. No more too big to fail. more effort needs to be done to make work. Instead, unemployment keeps climbing as well as the deficit. Tax cuts and toehr stupid gimmicks aren't the answer.

hat tip to http://financeopinionss.blogspot.com

[time4change2009]

Sometimes I wonder if uncle Warren is really the front man for the secretly Fed Reserve controlled Berkshire.

[MadHeart]

Buffett is profiting admirably from his share of TARP and the stimulus package (railroad is mass transportation and you can bet old Warren isn't doing this out of the goodness of his heart), even though you might not see it because it comes in through the back door.

[PhilipTaylor]

LINKED LIKE GLUE WASHINGTON AND WALL STREET!

Since Jan 20 this administration has NOT delivered change "We can believe in."

NO radical Washington BREAK with Wall Street! Instead $Trillions to the CR1ME FAMILIES!

FDR's Secretary Ickes said in 1938 America’s wealth is controlled by 60 Families who hold Dominion over all economic& political life but our government got the economic system back on its feet succeeding where 60 families failed.

Where is Recovery for Main Street/Urban Areas? NOTHING!

“Barely-worth-it health insurance patch” loaded with Emanue1's Backroom deals!

NOW TARP should go to foreclosure relief+ Manufacturing/Energy /High Tech Exports+ State budgets collapsed undercutting stimulus (But Summers/Geithner oppose IT)!

Dems in bed with Wall Street+ Summers+ Geithner+ Bernanke+ Emanue1= American Disaster!

Popular cynicism about Washington&FED run by Wall Street+ World Banking E1itists is at POST Depression HIGHS is reflected in 2009 elections repudiating incumbent Democrats!

2010 looks worse!

0bama has chosen an insider game with powerful corporations RUNNING the SHOW instead of FDR-type Reform using the support of Americans who elected him! Only Americans V0TE!

0bama displayed audacity, decency, idealism, and eloquence giving us hope, BUT NOW he seems buttoned up and damped down by the Corporatocracy!

[One Source Frank Rich]

[dadw5boys]

WHEN WILL IT SINK IN THE PRICES ARE TOO HIGH !!!!!!!!!!

When profits are so high they keep the economy down isn't it smart to lower prices ?????

Insurance cost provide triple profits to insuers ??????

[FHTB]

This old coot bores me...I don't give a flying eff what he does...unless he's ripping us all off...oh wait!

[trisha08]

Ahh yes, he is a successful businessman who is created a business enterprise worth billions and he is worth millions, and he bores you?

Your achievements include?


Ripping you off?

[ibisko]

coca-cola
dilly bars
very constructive
queen isabella was wealthy too.
read his bio to be underwhelmed.

[trisha08]

underwhelmed? Your net worth, please?

[NeoconGal]

And speaking about huge profits, Bernie Maddoff's investors are still waiting.

[breakingpoint]

Hey!

And his big investment at Wells Fargo just raissed credit card interest rates and he took all the good stuff with Goldman Sachs and left us with all the toxic waste - STOP THIEF!
http://jischinger.wordpress.com/2009/11/07/utter-fraud

[Chipher]

...don't forget his huge share of GE which includes GMAC, Until 2006, GMAC was a wholly owned subsidiary of GM. On Nov. 30, 2006, GMAC began a new era as an independent finance company when GM sold a 51 percent stake in the company to a group of investors led by Cerberus Capital Management, L.P. And we all know who Cerberus is, and who they have financing connection with.

[breakingpoint]

he just bought Burlington Northern

kinda makes you wonder if John D Rockefeller found a way to reincarnate

[ObamaSheeple]

What Wells did is legal, it shouldn't be, but it is. You should blame this administration for that and Congress. As far as the G.S. deal, this administration could have, should have required better terms than Buffett. He told them that.

But then, you can see the puppet strings from the G.S. building in NYC all the way down to the White House.

[pinkoursula]

Mr. Buffett is a national treasure.

[markm8128]

Sounds like he is wagering that oil prices will skyrocket, once again, due to global competition.

He is betting that this will bring our trucking industry to a screeching halt...forcing people to ship their wares by rail, instead.

Rising oil prices will not be good news for the American economy, but will be great news for the railroad sector.

[pinkoursula]

Didn't he get into the electric car biz too? In China?

[clueless JD]

This quarter's profit is from the 10 billion bet he made on Goldman Sachs. After hanging out with the Obama transition team, he realized GS was in a privileged position and the government had no plans to change that at all. He wasn't a GS insider, but he likely got an earful of material non-public information.

[PS9]

Or recognized that GS was way over sold.

[clueless JD]

I don't think in Q4 08 many analysts had public thoughts on what was oversold. We were still learning about moral hazzard, systemic failure, and too big to fail. At the time Buffet bet on GS, he wrote an article in the WSJ that said "be greedy when others are fearful". I do believe he thought he was being patriotic, but I doubt he was taking a risk. I am a bit suspicious that he has access to more information than I do -- or a retail brokerage does. But probably he has the same info as Paulson or Soros.

[FoonTheElder]

He negotiated an inside deal with the Bush Administration to help pour money into Goldman on a more favorable basis than the U.S. taxpayers received. He was given inside information that Goldman was going to be bailed out.

http://bigpicture.typepad.com/comments/2008/09/i-got-75b-but-i.html
http://www.fool.com/investing/dividends-income/2008/09/26/why-would-warren-buffett-stoop-so-low.aspx

[johnnygoodwud]

for all you cry babies out there complaining about buffet. his class B stock is getting ready to split 50-1, which would make each new share around $100.00. buy what you can when it splits and sit back and enjoy the ride. when it splits, i'll have 200 shares of the new stock. if it goes up $50.00 per share which it will, i'll make a quick $10K. doing nothing. 'if you can't beat them, join them'.

[pterack5]

he did'nt just but any RR company, the land holdings and mineral rights of the BN are second only to the federal land and mineral holdings, same for the Union Pacific of which he owns 23%. . .the UP could take over the world if it wanted to, railroading is not these company's main income, but they do have a strangle hold on moving what it takes to keep America strong. . .thanks to almost no regulation. . .

[rosiebond007]

Mr. Buffett is the one wealthy American who agrees and suggests that he should be taxed more!

Imagine that !

[DollyLama1964]

but still takes every deduction he can.

[SFA]

Whats wrong with that........

[blackfriday1978]

He filed tax return since he was running paper route as a teenager. Nothing wrong with what he did.

Grow up, already!

[Albert Amato]

His income is in dividends taxed at a much lower rate than salary or income.
He still earns my respect and he puts his money where his mouth is....USA.

[brady61995]

if he felt so strongly about paying more he could donate what he thinks he should be making and change 100.000's of lives. just because he could. I am not rich and if i won the lottery i would be one of those broke in 7 year people because i know i would help as many people as i could. I would not buy a giant house or have a golden toilet. buffet help some folks out while you can,