Buffett Becomes Vulture as HomeServices Gets Deals Black Can't

Sept. 2 (Bloomberg) -- Ron Peltier runs HomeServices of

America Inc., the second-largest U.S. real estate brokerage, and

unlike No. 1 NRT Inc., his company is making money in the worst

housing slump since the Great Depression.

HomeServices also has a parent, Warren Buffett's Berkshire

Hathaway Inc., with $28 billion of cash to help finance the

purchase of brokerages that can't weather the housing recession.

By contrast, NRT's parent Realogy Corp., owned by Leon Black's

Apollo Management LP, has at least $875 million of debt that has

an 89 percent chance of defaulting within five years, credit-

default swaps tracked by London-based CMA DataVision indicate.

Three years of tumbling U.S. home sales and prices may give

Peltier, who says he fields as many as three calls a week to his

Minneapolis office from desperate brokerages seeking a buyer, a

chance to grab market share. NRT's pace of acquisitions has

dropped to four this year from an annual average of 20 since 2002

as its debt ratio -- borrowing relative to earnings before

interest, taxes, depreciation and amortization -- increased to 4.9

in June from 3.8 at the end of 2007.

``Cash is king,'' Peltier said in an interview. ``If you've

got cash available, you have the opportunity to take advantage of

some great buying opportunities.''

NRT's options are limited by the growing debt of its parent,

said Steven Kaplan, a finance professor at the University of

Chicago Graduate School of Business. Realogy, based in Parsippany,

New Jersey, said it will pay interest in October on $550 million

of 11 percent notes due in 2014 by borrowing $32 million. The

company had total debt of $6.4 billion at the end of June.



Capital Structure



``If you are paying debt with new debt, you're not in a

position to be making acquisitions,'' Kaplan said. ``Unless a move

puts extra cash on their balance sheet right away, it's not

happening.''

Richard Smith, chief executive officer of Realogy, said in an

Aug. 25 interview that NRT is buying fewer brokerages because

``sellers have not been quick to drop their prices to keep pace''

with the industry's decline in revenue.

``The capital structure to handle all of our needs is in

place,'' Smith said. ``We are still acquisitive, if the deal makes

sense for us.''

Peltier said he expects to spend $200 million in the next two

years paying 20 cents to 25 cents on the dollar for distressed

brokerages to get HomeServices into new markets. The HomeServices

chief executive officer said he couldn't give details on pending

deals, though he expects at least one to close by the end of the

year. HomeServices spent about $10 million buying companies in the

past year, Peltier said.



`Tuck-in' Purchases



``Since mid-2006, we've been focusing on tuck-in

acquisitions: smaller companies that can be folded into an

existing primary market,'' the 59-year-old Peltier said. ``We

think we are starting to see signs of the end of the downturn, so

our interest is growing in making some very noteworthy

acquisitions going forward.''

HomeServices is part of Berkshire Hathaway's Des Moines,

Iowa-based MidAmerican Energy Holdings Co. When the housing slump

started in 2006, Buffett, who declined to be interviewed for this

story, said the market's woes ``should lead to additional

acquisition possibilities.'' He said in his annual shareholders

letter that year that HomeServices would probably be ``far larger

a decade from now.''

Currently, HomeServices is in 24 of the 60 largest U.S. real

estate markets. NRT is in 35 markets.

``Last year was a slow year for residential sales, and 2008

probably will be slower,'' Buffett said in his annual letter to

investors published six months ago. ``We will continue, however,

to acquire quality brokerage operations when they are available at

sensible prices.''



Buffett's Approach



That opportunistic view of the worst housing recession in

seven decades is ``classic Buffett,'' said Charles Hamilton, an

analyst at FTN Midwest Securities Corp. in Nashville, Tennessee.

``When you have Buffett's long-term investment philosophy,

you can wait for things to go on sale,'' Hamilton said. ``In the

real estate brokerage business, this is the perfect time to be a

buyer and a terrible time to be a seller.''

Peltier's purchases follow the Buffett pattern. He looks for

strong management, keeps the local brand name and the top

executives, and lets them run the company with little

interference, just as Buffett tends to leave him alone.

The real estate business ``is highly cyclical, yet one we

view quite enthusiastically,'' Buffett wrote in his February 2004

letter to investors. ``We have an exceptional manager, Ron

Peltier, who through both his acquisition and operational skills

is building a brokerage powerhouse.''



Local Brands



When NRT buys a business, it relaunches it under one of

Realogy's franchises, such as Coldwell Banker or ERA, said Smith,

55, in last week's interview.

``We substantially improve the bottom line by collapsing new

companies under one brand,'' Smith said. ``We believe consumers

are more and more leaning toward national brands.''

HomeServices's pretax profit fell 71 percent to $42 million

last year from the peak of $145 million in 2005, according to

President Robert Moline. In the first seven months of this year,

pretax profit was $2 million, helped by $90 million of cost-

cutting since 2007, Moline said.

Peltier said he's got enough money to weather the housing

decline. If an opportunity is too big to handle in-house, Peltier

can tap Berkshire's cash.

Omaha, Nebraska-based Berkshire Hathaway has the highest AAA

rating from Moody's Investors Service.



Credit Rating Cut



Moody's downgraded Realogy's debt this month by one grade to

Caa1 from B3, citing the dangers of the real estate recession and

its ``highly leveraged capital structure.'' Moody's assessed the

rating outlook as ``stable.'' Caa1 is the seventh-lowest

speculative, or junk, grade.

Realogy had a net loss of $27 million in the second quarter,

with the brokerages at the NRT unit reporting an 8 percent year-

over-year decline in average sale price as they handled a growing

number of foreclosures. NRT's expansion plans are focused on

``walkovers,'' recruiting top producers from other brokerages,

Smith said on an Aug. 14 conference call with investors and

analysts.

``The vast majority of brokerages contemplating a sale are

probably going to wait until the market improves a little bit so

they have some earnings,'' Smith said in last week's interview.

NRT has access to Realogy's $750 million revolving line of

credit put in place when Apollo acquired the company for $6.8

billion in April 2007, Smith said. Apollo financed the purchase

with $2 billion of equity and $4.4 billion of debt, in the form of

bank loans and bonds. Realogy, not NRT, is carrying the debt,

Smith said.



Air Balloon



During the Aug. 14 conference call, Smith told investors that

Realogy had a balance of $205 million on the revolving line of

credit as of June 30. The company expects to keep its debt ratio

below the maximum cited in the credit agreement, which currently

is 5.6, Smith said on the call.

If the housing slump continues into next year, Realogy may

have difficulty meeting the loan terms, said Lenny Ajzenman, a

Moody's Investors Service analyst. The ratio will tighten to 5 by

next September, according to an Aug. 8 report from Moody's.

Apollo's Black ``is a smart guy,'' said Paul Schaye, managing

director of New York-based Chestnut Hill Partners LLC, which helps

private-equity funds identify investments. ``If the underpinnings

of a deal make sense, he will financially engineer it. But if a

deal doesn't support the bottom line, it's not going to happen.''



Edina Roots



Measuring so-called transaction sides, a standard industry

gauge that counts the involvement of a selling and a buying agent

for every deal, NRT was ahead of all its peers. The company had

326,323 sides in 2007, down 17 percent from the prior year,

according to research and publishing firm Real Trends in Denver.

That was more than twice as many as HomeServices's 152,826

sides in 2007, which fell 16 percent from a year earlier, Real

Trends said.

While NRT's acquisition pace has slowed this year, one

purchase hit close to HomeServices's turf: NRT's Coldwell Banker

Burnet in Edina, Minnesota, bought the four offices of RHS Realty

in surrounding towns of the western Minneapolis suburb.

Edina, where Peltier got his 1977 start in real estate after

a two-year stint as a history teacher and hockey coach, is also

the town where he first started moving up the management ranks at

Edina Realty, now owned by HomeServices. Peltier said his company

wasn't interested in buying RHS Realty.

``It wasn't a beneficial acquisition for us to go after

because we already dominate that market,'' Peltier said.

  

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... klassisches antizyklisches handeln, schaut wieder mal nach einem perfekten Deal für Buffett aus, genial wie immer ... Der Mann geht einfach seinen Weg und zieht seine Strategie unbeirrbar und beinhart durch.

  

Beitrag dem Admin melden | Urheberrechtsverletzung melden

Berkshire Hathaway - Warren Buffet - Value Investor [Alle anzeigen] , Rang: Ottakringer(38), 03.11.19 15:25
 
Subject Auszeichnungen Author Message Date ID
Analysten-Einschätzungen
24.8.07 16:11
1
Prof. Otte-Kolumne: Berkshire, Berkshire, Berkshire!
24.8.07 16:12
2
      BERKSHIRE HATHAWAY - Langfristinvestment
20.10.07 14:48
3
      RE: BERKSHIRE HATHAWAY - Langfristinvestment
20.10.07 16:12
4
      RE: BERKSHIRE HATHAWAY - Langfristinvestment
20.10.07 23:33
5
      RE: BERKSHIRE HATHAWAY - Langfristinvestment
21.10.07 19:51
6
      RE: BERKSHIRE HATHAWAY - Langfristinvestment
22.10.07 19:34
7
      RE: BERKSHIRE HATHAWAY - Langfristinvestment
22.10.07 20:12
8
      Warren Buffett beteiligt sich an Münchener Rück
10.4.08 12:23
9
      INGERSOLL RAND CO. LTD. REG. SHS CLASS
19.5.08 23:15
10
      Onkel Warren stieg in Eisenbahnaktien ein...
25.5.08 22:54
11
      RE: Onkel Warren stieg in Eisenbahnaktien ein...
26.5.08 00:09
12
      Sind Eisenbahnaktien die nächste Sau die man durchs Anl...
27.5.08 00:19
13
      RE: Onkel Warren stieg in Eisenbahnaktien ein...
15.6.08 20:53
14
@All
15.6.08 20:55
15
Wenn dieser Investor spricht, reagiert Buffett sofort
17.6.08 22:38
16
      RE: Wenn dieser Investor spricht, reagiert Buffett sofo...
17.6.08 23:10
17
      DIE GEFAHR AUS DEM FINANZSEKTOR
20.6.08 21:42
18
      RE: Wenn dieser Investor spricht, reagiert Buffett sofo...
31.5.10 21:37
19
      RE: Wenn dieser Investor spricht, reagiert Buffett sofo...
31.5.10 21:56
20
      Warren Buffett: Entzauberung einer Legende
02.6.10 13:35
21
      RE: Warren Buffett: Entzauberung einer Legende
02.6.10 17:35
22
      RE: Warren Buffett: Entzauberung einer Legende
02.6.10 20:48
23
      RE: Warren Buffett: Entzauberung einer Legende
02.6.10 20:44
24
      RE: Warren Buffett: Entzauberung einer Legende
02.6.10 21:46
25
      RE: Warren Buffett: Entzauberung einer Legende
02.6.10 22:22
26
Warren Buffett Says Sell to Me, Not `Porn Shop'
25.6.08 22:09
27
Buffett kauft Subprime-Assets
26.6.08 20:59
28
RE: Buffett kauft Subprime-Assets - hat schon zugeschla...
01.7.08 22:34
29
Buffett Has $2.1 Million Lunch Date With Hedge-Fund Man...
30.6.08 21:53
30
Berkshire wird sich in fünf Jahren verdoppeln
02.7.08 21:53
31
RE: Berkshire wird sich in fünf Jahren verdoppeln
03.7.08 07:23
32
      RE: Berkshire wird sich in fünf Jahren verdoppeln
06.7.08 21:12
33
Buffett's Berkshire Paid to Buy Bonds If Storm Hits
06.7.08 21:17
34
Why We Own Berkshire
06.7.08 21:26
35
Berkshire Hathaway bei Rohm & Haas dabei
14.7.08 18:55
36
Warren Buffetts Aktie muß Federn lassen - Ich gebe es z...
24.7.08 15:17
37
      RE: Warren Buffetts Aktie muß Federn lassen - Ich gebe ...
03.8.08 20:54
38
      RE: Warren Buffetts Aktie muß Federn lassen - Ich gebe ...gut analysiert
03.8.08 21:24
39
      RE: Warren Buffetts Aktie muß Federn lassen - Ich gebe ...
03.8.08 22:09
40
      RE: Warren Buffetts Aktie muß Federn lassen - Ich gebe ...
04.8.08 08:39
41
      RE: Warren Buffetts Aktie muß Federn lassen - Ich gebe ...
04.8.08 19:20
42
      RE: Warren Buffetts Aktie muß Federn lassen - Ich gebe ...
04.8.08 20:32
43
      RE: Warren Buffetts Aktie muß Federn lassen - Ich gebe ...
04.8.08 21:52
44
      RE: Warren Buffetts Aktie muß Federn lassen - Ich gebe ...
04.8.08 22:26
45
      Buffett - Charttechnik
04.8.08 22:41
46
Buffett Builds Berkshire Holdings
08.8.08 16:43
47
Long-awaited Buffett book due out in September
11.8.08 19:04
48
Buffett's Q2 Moves Include A Major Head Scratcher
15.8.08 17:16
49
RE: kleine Aufstellung dazu
18.8.08 17:30
50
Buffett sollte Fannie, Freddie helfen
22.8.08 17:40
51
Has Warren Buffett Lost His Magic Touch?
28.8.08 19:10
52
RE: Has Warren Buffett Lost His Magic Touch?
29.8.08 11:12
53
      RE: Has Warren Buffett Lost His Magic Touch?
31.8.08 21:49
54
Buffett kauft laufend Real Estate-Broker
02.9.08 21:15
55
RE: Buffett kauft laufend Real Estate-Broker
04.9.08 09:36
56
Berkshire Unit to Phase Out Bank-Deposit Insurance
10.9.08 19:59
57
Buffett's MidAmerican Energy to Buy Constellation
18.9.08 19:00
58
RE: Buffett's MidAmerican Energy to Buy Constellation
18.9.08 19:11
59
      RE: Buffett's MidAmerican Energy to Buy Constellation
18.9.08 19:45
60
Buffett's Berkshire Accelerates Pace of Acquisition
18.9.08 23:14
61
Buffett bekommt Konkurrenz
22.9.08 22:53
62
Buffett steigt bei Goldman ein
24.9.08 08:09
63
RE: Buffett steigt bei Goldman ein - Ziemliche Verluste...
10.11.08 19:07
64
1. Buch von Buffett selbst
28.9.08 23:08
65
Kritik dazu
29.9.08 22:29
66
Buffett Buys $3 Billion Preferred in GE
01.10.08 20:16
67
RE: Buffett Buys $3 Billion Preferred in GE
01.10.08 20:49
68
      RE: Buffett Buys $3 Billion Preferred in GE
01.10.08 21:09
69
      Warren Buffett steigt bei General Electric ein
02.10.08 15:22
70
Lehman hat Buffett-Investment abgelehnt
06.10.08 23:19
71
Buffett's Stock Picks Suffer One-Week Drop of $10.4 Bil...
13.10.08 21:18
72
RE: Berkshire Hathaway - Warren Buffet - Value Investor
14.10.08 23:10
73
RE: Berkshire Hathaway - Warren Buffet - Value Investor
15.10.08 10:33
74
RE: Berkshire Hathaway - Warren Buffet - Value Investor
13.11.08 21:42
75
      RE: Berkshire Hathaway - Warren Buffet - Value Investor
13.11.08 21:48
76
      RE: Berkshire Hathaway - Warren Buffet - Value Investor
13.11.08 21:53
77
      RE: Berkshire Hathaway - Warren Buffet - Value Investor
13.11.08 22:05
78
Berkshire Hathaway profit falls 77 percent
08.11.08 00:39
79
Buffett, Ross insurers eye Dexia U.S. unit
11.11.08 21:54
80
Berkshire unter 100.000
16.11.08 21:40
81
Berkshire's Credit Risk Soars on Buffett's $37 Billion ...
18.11.08 20:05
82
RE: Berkshire's Credit Risk Soars - Guter Artikel dazu
25.11.08 21:01
83
      RE: Berkshire's Credit Risk Soars - Guter Artikel dazu
25.11.08 21:11
84
Buffett's Berkshire Falls Most in at Least 23 Years
19.11.08 22:53
85
Buffett’s Berkshire Will Give More Information on Deriv...
24.11.08 15:27
86
Liquidity is pinched
24.11.08 23:26
87
      Defaultrisiko von Berkshire Hathaway steigt dramatisch ...interessant
25.11.08 00:30
88
Noch ein Artikel
26.11.08 22:30
89
Charlie Munger sold 2,000 of the Berkshire shares (13% ...
01.12.08 19:35
90
Buffett Stock Picks Beat Financials Index
01.12.08 19:42
91
EDF Bids $4.5 Bln for 50% of Constellation Nuclear
04.12.08 22:59
92
Berkshire Hathaway Short Selling Rises to Highest in Si...
12.12.08 00:21
93
Aktiencheck: Berkshire Hathaway kaufen
12.12.08 00:29
94
EDF Said Close to Constellation Deal, Defying Buffett
16.12.08 09:41
95
Constellation Takes EDF Bid; Quits Buffett Takeover
17.12.08 19:00
96
Buffett Wins $224 Million Storm Bet With Florida
29.12.08 23:06
97
Buffett and China banks top cash-rich list
30.12.08 11:49
98
Berkshire Has ‘Nowhere to Hide’
02.1.09 09:00
99
RE: Berkshire Has ‘Nowhere to Hide’
06.1.09 08:31
100
      RE: Berkshire Has ‘Nowhere to Hide’
06.1.09 10:50
101
Morningstar Names Warren Buffett CEO of the Year
07.1.09 23:20
102
KGV 3
13.1.09 20:34
103
Warren Buffett Is Close to Buying Regional Airport in F...
21.1.09 21:25
104
Buffett Bid to Challenge Lufthansa on Home Turf Riles L...
25.1.09 21:15
105
      Der Guardian nennt fünfundzwanzig Schuldige an der Fina...interessant
30.1.09 23:33
106
Berkshire Agrees to Buy $300 Million of Harley Debt
03.2.09 22:51
107
Swiss Re Raises $2.6 Billion From Buffett After Loss
05.2.09 20:02
108
RE: Swiss Re Raises $2.6 Billion From Buffett After Los...
05.2.09 20:14
109
      RE: Swiss Re Raises $2.6 Billion From Buffett After Los...
05.2.09 20:17
110
Der Halbgott unter den Investoren
08.2.09 20:35
111
Buffett, Who Invests ‘Forever,’ Finds Shorter Span Unpr...
11.2.09 21:08
112
Buffett’s NetJets Europe May Buy Airports
15.2.09 22:21
113
Warren Buffett ist weiter auf Shoppingtour
16.2.09 13:29
114
Berkshire Reduces Stake in J&J as Buffett Turns to Fixe...
18.2.09 20:35
115
Warren Buffets Investmentvehikel im freien Fall - Verzo...
20.2.09 18:49
116
      Buffett's Berkshire Drops to Lowest in Five Years
22.2.09 11:15
117
Markt völlig ineffizient
24.2.09 22:32
118
RE: Markt völlig ineffizient
25.2.09 17:49
119
Berkshire’s Results May Be Worst Ever, Using Buffett’s ...
27.2.09 21:38
120
Letter 2008 - Die interessantesten Passageninteressant
01.3.09 20:58
121
Berkshire "Junk"?
04.3.09 22:50
122
Short Sellers Set Sights on Buffett’s Berkshire
11.3.09 21:08
123
Berkshire nicht mehr AAAwitzig
13.3.09 12:35
124
100.000 Gehalt, 50.000 wieder zurückgezahlt
13.3.09 17:09
125
Prof. Dr. Max Otte:So dumm sind Zeitungsjournalisten
18.3.09 18:40
126
      RE: Prof. Dr. Max Otte:So dumm sind Zeitungsjournaliste...
18.3.09 19:13
127
      RE: Prof. Dr. Max Otte:So dumm sind Zeitungsjournaliste...
19.3.09 16:47
128
      RE: Prof. Dr. Max Otte:So dumm sind Zeitungsjournaliste...
19.3.09 23:18
129
      RE: Prof. Dr. Max Otte:So dumm sind Zeitungsjournaliste...gut analysiert
19.3.09 23:56
130
      RE: Prof. Dr. Max Otte:So dumm sind Zeitungsjournaliste...
20.3.09 07:28
131
      RE: Prof. Dr. Max Otte:So dumm sind Zeitungsjournaliste...
22.3.09 20:49
132
      RE: Prof. Dr. Max Otte:So dumm sind Zeitungsjournaliste...
22.3.09 20:46
133
      RE: Prof. Dr. Max Otte:So dumm sind Zeitungsjournaliste...
22.3.09 22:35
134
      Goldman Warrants sind wieder am Geld
24.3.09 18:32
135
Berkshire Hathaway begibt Anleihe
26.3.09 22:03
136
Buffett Punished in Bond Market
02.4.09 22:06
137
Downgrade durch Moody's auf Aa2
09.4.09 21:45
138
Warren Buffett schafft es wieder einmal....
15.4.09 09:20
139
Buffett, at Annual Meeting, Refocuses Attention on Berk...
29.4.09 19:45
140
Buffett zu seiner Nachfolge auf der HV
03.5.09 21:06
141
RE: Buffett zu seiner Nachfolge auf der HV
04.5.09 07:44
142
      RE: Buffett zu seiner Nachfolge auf der HV
04.5.09 08:04
143
      RE: Buffett zu seiner Nachfolge auf der HV
04.5.09 08:07
144
      @jonnyfreutsich
04.5.09 08:14
145
      RE: @jonnyfreutsich
04.5.09 08:24
146
Berkshire Hathaway mit Verlust im 1. Quartal
10.5.09 22:58
147
Munger bringst in einem Interview auf den Punktinteressantinteressantgut analysiert
14.5.09 22:25
148
RE: Munger bringst in einem Interview auf den Punkt
14.5.09 23:24
149
Berkshire Doubled Municipal Bond Stake
09.6.09 21:12
150
Warren Buffett übertrifft sich selbstinteressant
30.6.09 21:59
151
      Warren Buffett, GOD OF STOCKS
01.7.09 22:50
152
Buffett verschenkt Berkshire-Aktien
03.7.09 08:10
153
RE: Buffett verschenkt Berkshire-Aktien
06.7.09 21:01
154
Berkshire Profit on Goldman Sachs Passes $2 Billion
23.7.09 20:36
155
Buffett Posts $1 Billion Profit on China Carmaker BYD
31.7.09 17:12
156
      Warren Buffett und das richtige Timing
04.8.09 23:51
157
      Halbjahresergebnis +3,3 Mrd.
09.8.09 21:13
158
      Buffett’s Berkshire Adds Corporate Debt
10.8.09 20:30
159
      Buffett’s Payouts Climb on Credit Derivatives After Def...
11.8.09 19:44
160
      Berkshire Buys Becton Stock in Medical Products Bet
17.8.09 17:50
161
Buffett hat Asiens bestperformende Aktie
15.9.09 08:51
162
Buffet's Big Bet On Goldman Has Reaped A Huge Payoff
23.9.09 19:03
163
Aktuelles Interview
20.10.09 21:23
164
      Noch ein Interview
27.10.09 21:15
165
Buffett kauft Eisenbahn
03.11.09 19:04
166
Berkshire Hathaway bald im S&P 500?
04.11.09 16:06
167
Buffett Revisits Hunting Ground for Survivors
04.11.09 23:10
168
      Buffett greift wieder in die Trickkiste
26.12.09 14:47
169
      Berkshire Hathaway vs. S&P 500
20.1.10 10:45
170
Berkshire hält 3% an MüRü
26.1.10 14:03
171
RE: Berkshire hält 3% an MüRü
26.1.10 22:12
172
Berkshire hält 3% an MüRü + Optionen für weitere 2%
28.1.10 21:10
173
Präsentation eines Hedge-Fonds Managers über Berkshire ...
27.1.10 23:02
174
Berkshire plant 8 Mrd. Anleihe, AAA ist weg
04.2.10 22:33
175
America Lines Up for Piece of Buffett
14.2.10 22:22
176
      Ausbau bei Münchener Rück
14.2.10 23:27
177
Berkshire Profit Jumps to $3.1 Billion on Derivatives
28.2.10 12:00
178
RE: Berkshire Profit Jumps to $3.1 Billion on Derivativ...
02.3.10 00:13
179
      RE: Berkshire Profit Jumps to $3.1 Billion on Derivativ...
02.3.10 08:26
180
      RE: Berkshire Profit Jumps to $3.1 Billion on Derivativ...
02.3.10 08:40
181
      RE: Berkshire Profit Jumps to $3.1 Billion on Derivativ...
02.3.10 08:53
182
      RE: Berkshire Profit Jumps to $3.1 Billion on Derivativ...
02.3.10 20:30
183
      Obama Pays More Than Buffett
22.3.10 08:32
184
      Buffett hat Optionen auf Munich Re ausgeübt
25.3.10 22:09
185
      RE: Buffett hat Optionen auf Munich Re ausgeübt
25.3.10 23:24
186
      RE: Buffett hat Optionen auf Munich Re ausgeübt
25.3.10 23:25
187
      RE: Buffett hat Optionen auf Munich Re ausgeübt
26.3.10 10:09
188
      Buffett's Top 10 Investing Secrets
30.3.10 20:51
189
Buffett mag man eben
05.4.10 22:09
190
RE: Buffett mag man ebeninteressant
31.5.10 21:35
191
      RE: Buffett mag man eben
31.5.10 21:51
192
Is Berkshire Hathaway's stock overvalued?
04.8.10 20:48
193
Warren Buffett hat sich mit Derivaten verspekuliert
07.8.10 20:19
194
      RE: Warren Buffett hat sich mit Derivaten verspekuliert
08.8.10 22:07
195
Warren Buffett: Das nette Gesicht des Kapitalismusinteressant
29.8.10 21:43
196
200 Mrd. Schaden - Der Kauf von BRK
18.10.10 23:03
197
Buffett's Investment in Goldman Sachs mit 1Mrd.$ vergol...
21.10.10 19:14
198
      RE: Buffett's Investment in Goldman Sachs mit 1Mrd.$ ve...
21.10.10 20:52
199
      Berkshire Hathaway verdiente im dritten Quartal 3,0 Mil...
06.11.10 17:13
200
RE: Berkshire Hathaway - Warren Buffet - Value Investor
07.11.10 12:28
201
RE: Berkshire Hathaway - Warren Buffet - Value Investor
07.11.10 20:52
202
GS zahlt verzinst zurück
19.3.11 20:36
203
RE: GS zahlt verzinst zurück
19.3.11 22:36
204
      RE: GS zahlt verzinst zurück
29.3.11 19:59
205
      die kette ist nur so stark wie ihr schwächstes glied
01.5.11 12:14
206
      Buffett greift nach Citigroup-Gesellschaft
14.7.11 14:06
207
      Buffett übernimmt Solar-Park
08.12.11 13:48
208
      Berkshire Hathaway: Jetzt noch 70% Potenzial?
17.5.12 18:22
209
      nicht alles ist gold was glänzt
29.11.12 23:29
210
      RE: nicht alles ist gold was glänzt
30.11.12 00:14
211
      RE: nicht alles ist gold was glänzt
30.11.12 14:23
212
Berkshire Hathaway and CaixaBank agree to Reinsurance D...
30.11.12 15:39
213
RE: Berkshire Hathaway and CaixaBank agree to Reinsuran...
30.11.12 16:01
214
      RE: Berkshire Hathaway and CaixaBank agree to Reinsuran...
03.12.12 22:00
215
      Warren Buffet wieder auf Shopping Tour
14.2.13 14:28
216
      Heinz: Schwerer Schlag für Buffett
16.2.13 15:15
217
      RE: Heinz: Schwerer Schlag für Buffett
16.2.13 20:37
218
Berkshire Hathaway B gekauft
25.7.16 17:23
219
RE: Berkshire Hathaway B gekauft
26.2.24 15:46
220
      RE: Berkshire Hathaway B gekauft
26.2.24 15:48
221
Warren Buffetts Firma enttäuscht Analysten trotz mehr G...
06.8.16 21:22
222
Q2 2016
06.8.16 21:25
223
      Barclays: Buy Berkshire Hathaway
08.8.16 18:45
224
      Berkshire ertrinkt im Cashinteressant
12.8.16 12:07
225
      RE: Berkshire ertrinkt im Cash
12.8.16 13:27
226
      RE: Berkshire ertrinkt im Cash
12.8.16 13:49
227
Wells Fargo Skandal interessant
03.10.16 21:22
228
Cash is piling up faster than Warren Buffett can invest...
11.10.16 21:01
229
Buffett’s Cash Soars to Record as Operating Profit Edge...
05.11.16 13:57
230
Heinz - Unilever
21.2.17 13:15
231
RE: Heinz - Unilever
21.2.17 13:51
232
      RE: Heinz - Unilever
21.2.17 15:42
233
      RE: Heinz - Unilever
21.2.17 15:52
234
Wichtiges Wochenende!
23.2.17 21:13
235
Letter für 2016 ist da
25.2.17 21:34
236
      WB on Share Repurchases
25.2.17 21:56
237
      Gewinnsprung
26.2.17 11:55
238
Buffett's Berkshire, Chinese property website Juwai.com...
17.4.17 20:40
239
Warren Buffett's money managers, Todd Combs and Ted Wes...
28.4.17 20:19
240
Barclays says Berkshire Hathaway is 'attractively value...
29.4.17 20:40
241
Berkshire Hathaway's stock could be worth 30% more in a...
05.5.17 19:07
242
RE: Berkshire Hathaway's stock could be worth 30% more ...
05.5.17 19:19
243
Buffett meldet deutlich geringeren Gewinn
06.5.17 11:34
244
HV - Livestream
06.5.17 21:16
245
Aufgestockt um 169,6199 USD.
29.6.17 20:40
246
RE: Aufgestockt um 169,6199 USD.
29.6.17 21:38
247
RE: Aufgestockt um 169,6199 USD.
29.6.17 21:56
248
RE: Aufgestockt um 177,0399 USD.
02.8.17 17:03
249
      RE: Aufgestockt um 178,46 USD.
28.8.17 18:45
250
      RE: Aufgestockt um 173,3699 USD.
07.9.17 17:28
251
      Versicherer brauchen Katastrophen
09.9.17 11:39
252
Verluste beim Versicherungsgeschäft ziehen den operativ...
07.8.17 18:41
253
http://www.berkshirehathaway.com/news/aug0417.pdf
07.8.17 19:11
254
      Buffett sitzt auf einer Kriegskasse von 100 Milliarden ...
08.8.17 20:57
255
Berkshire a screaming buy
14.9.17 20:57
256
“If I die tonight, I think the stock would go up tomorr...
07.12.17 21:50
257
Berkshire's repurchase policy
17.12.17 22:00
258
Berkshire Hathaway ‘A’ Shares Reach $300,000 for First ...
18.12.17 23:12
259
The succession plan is getting clearer
10.1.18 19:42
260
Warren Buffett has enough firepower to do a $160 billio...
23.2.18 20:33
261
Zahlen Q4 2017
24.2.18 14:57
262
Nachtrag annual letter
04.3.18 19:53
263
      RE: Nachtrag annual lettergut analysiert
04.3.18 20:36
264
      RE: Nachtrag annual letter
04.3.18 21:25
265
Warren Buffett Is Just an Average Employee
19.3.18 15:42
266
The Billionaire Whisperer Who United Bezos, Buffett and...
27.3.18 12:44
267
Buffett's Berkshire will oppose USG board nominees afte...
13.4.18 23:24
268
Eine der ambitioniertesten Windkraft-Initiativen der US...
19.4.18 10:18
269
Aktuelle Präsentation
23.4.18 16:06
270
Apple verkauft mehr iPhones und beschenkt Aktionäre
02.5.18 09:04
271
As Warren Buffett's Empire Expands, Many Jobs Disappear
03.5.18 13:50
272
Morgen HV - Live auf Yahoo Finance
04.5.18 20:06
273
RE: Morgen HV - Live auf Yahoo Finance
06.5.18 15:32
274
Q1 2018 - 1,1 Mrd. Verlust
06.5.18 15:02
275
An Analysis of Berkshire Hathaway
18.5.18 14:04
276
RE: An Analysis of Berkshire Hathaway
18.5.18 14:09
277
Buffett gibt Knauf den Sanktus für Milliardendeal
11.6.18 19:53
278
Amazon, Berkshire, JPMorgan name Atul Gawande CEO of he...
20.6.18 20:43
279
RE: Amazon, Berkshire, JPMorgan name Atul Gawande CEO o...
20.6.18 21:17
280
Berkshire Removes Cap on Share Buybacks, Stock Climbs
18.7.18 15:36
281
Mohnish Pabrai: What I've Learned From Warren and Charl...
04.8.18 12:15
282
Berkshire Hathaway profit surges as economy gives Buffe...
04.8.18 20:55
283
RE: Berkshire Hathaway profit surges as economy gives B...
04.8.18 21:18
284
      In summary, it was an exceptionally strong quarter
05.8.18 14:07
285
      RE: In summary, it was an exceptionally strong quarter
06.8.18 09:40
286
BYD
03.11.18 15:05
287
Buffett Puts Cash to Work Buying Back $928 Million in S...
03.11.18 20:48
288
Q1-3 2018: Gewinn mehr als verdoppelt
03.11.18 21:00
289
Buffett-Interview
06.11.18 13:03
290
4 reasons it's a big deal Buffett is buying Berkshire s...
08.11.18 11:38
291
Warren Buffett to Expand His Real Estate Empire to Mila...
13.11.18 08:52
292
Insider-Kauf
29.12.18 20:53
293
RE: Insider-Kauf
29.12.18 23:38
294
Apple plunge deepens Warren Buffett's book value woes
03.1.19 20:37
295
Berkshire Hathaway profit expectation slashed following...
22.2.19 20:30
296
RE: Berkshire Hathaway profit expectation slashed follo...
22.2.19 21:11
297
      Berkshire mit 25 Mrd Verlust in Q4
23.2.19 16:20
298
      Der Annual Letter für 2018 ist dainteressant
23.2.19 16:57
299
      Buybacks
24.2.19 18:05
300
      Intrinsic value
24.2.19 18:09
301
Warren Buffet - drängende Fragen nach dem Gewinneinbruc...
24.2.19 23:44
302
RE: Warren Buffet - drängende Fragen nach dem Gewinnein...
28.2.19 21:25
303
Gates Stiftung verkauft 20 Mio. Berkshire B Aktien pro...
20.4.19 18:11
304
Buffett Preps Berkshire Shareholders for Soaring Stock ...
25.4.19 22:28
305
Warren Buffett Bets on Dubai Property as Market Prolong...
28.4.19 16:35
306
Buffetts Investmentfirma beteiligt sich erstmals an Ama...
03.5.19 09:33
307
Company’s growth has helped create at least seven billi...
03.5.19 15:24
308
Buffett deutete mögliche Nachfolger an Berkshire-Hathaw...
05.5.19 10:25
309
Berkshire Ramps Up Stock Buybacks as Cash Pile Keeps Gr...
05.5.19 14:03
310
RE: Berkshire Ramps Up Stock Buybacks as Cash Pile Keep...
05.5.19 16:16
311
      RE: Berkshire Ramps Up Stock Buybacks as Cash Pile Keep...
05.5.19 16:32
312
      RE: Berkshire Ramps Up Stock Buybacks as Cash Pile Keep...
06.5.19 11:14
313
      RE: Berkshire Ramps Up Stock Buybacks as Cash Pile Keep...
06.5.19 11:41
314
      RE: Berkshire Ramps Up Stock Buybacks as Cash Pile Keep...
06.5.19 11:47
315
      RE: Berkshire Ramps Up Stock Buybacks as Cash Pile Keep...
06.5.19 11:51
316
      RE: Berkshire Ramps Up Stock Buybacks as Cash Pile Keep...interessant
06.5.19 12:03
317
      RE: Berkshire Ramps Up Stock Buybacks as Cash Pile Keep...
06.5.19 12:19
318
      RE: Berkshire Ramps Up Stock Buybacks as Cash Pile Keep...
06.5.19 12:49
319
Warren Buffett liefert starke Zahlen zum Aktionärstreff...
05.5.19 18:00
320
RE: Warren Buffett liefert starke Zahlen zum Aktionärst...
05.5.19 21:55
321
Wortprotokoll der Berkshire HVinteressant
09.5.19 11:13
322
My $650,100 Lunch with Warren Buffett
06.7.19 21:12
323
Icahn Slams Occidental, Says Buffett Took CEO ‘to the C...
22.7.19 16:51
324
RE: Icahn Slams Occidental, Says Buffett Took CEO ‘to t...
22.7.19 18:47
325
RE: Icahn Slams Occidental, Says Buffett Took CEO ‘to t...
22.7.19 18:59
326
      RE: Icahn Slams Occidental, Says Buffett Took CEO ‘to t...
22.7.19 19:26
327
      RE: Icahn Slams Occidental, Says Buffett Took CEO ‘to t...
22.7.19 19:32
328
Berkshire Second Quarter Operating Income $6.14 Bln, -1...
03.8.19 14:16
329
Berkshire’s Cash Pile Hits a Record 122bn
03.8.19 19:12
330
Buffett Distracts From 'Mind-Numbing' Earnings
03.8.19 19:26
331
RE: Berkshire Second Quarter Operating Income $6.14 Bln...
03.8.19 20:42
332
      RE: Berkshire Second Quarter Operating Income $6.14 Bln...
04.8.19 10:06
333
Analysis of Berkshire Hathaway's Q2 earnings
07.8.19 20:08
334
Warum Büfett nicht mehr investiert
07.8.19 21:14
335
      RE: Warum Büfett nicht mehr investiert
07.8.19 21:57
336
      RE: Warum Büfett nicht mehr investiert
07.8.19 23:50
337
      RE: Warum Büfett nicht mehr investiert
08.8.19 05:46
338
      RE: Warum Büfett nicht mehr investiert
08.8.19 06:43
339
      RE: Warum Büfett nicht mehr investiert
08.8.19 07:42
340
Warren Buffetts allererstes TV-Interview
09.8.19 22:47
341
Berkshire Hathaway - Präsentation
24.8.19 20:12
342
Warum Bill Ackman Berkshire gekauft hat
24.8.19 20:28
343
RE: Warum Bill Ackman Berkshire gekauft hat
24.8.19 21:29
344
      RE: Warum Bill Ackman Berkshire gekauft hat
25.8.19 09:49
345
      RE: Warum Bill Ackman Berkshire gekauft hat
25.8.19 12:13
346
      RE: Warum Bill Ackman Berkshire gekauft hat
25.8.19 12:16
347
Berkshire stockt Amazon auf
25.8.19 10:01
348
Buffett-Anekdote
27.8.19 17:35
349
RE: Buffett-Anekdote
27.8.19 18:32
350
      RE: Buffett-Anekdote
27.8.19 20:13
351
      RE: Buffett-Anekdote
27.8.19 20:34
352
      RE: Buffett-Anekdote
27.8.19 21:09
353
      RE: Buffett-Anekdote
28.8.19 19:46
354
      RE: Buffett-Anekdote
28.8.19 20:44
355
      RE: Buffett-Anekdote
29.8.19 10:26
356
      RE: Buffett-Anekdote
29.8.19 11:41
357
      RE: Buffett-Anekdote
28.8.19 21:09
358
      RE: Buffett-Anekdote
29.8.19 10:21
359
Berkshire Hathaway Energy
03.9.19 23:39
360
Buffett’s Peak Quarter Brings New Records on Profit and...
03.11.19 15:02
361
Aktienrückkauf
04.11.19 20:42
362
Wie viel Warren Buffett an Bank of America verdient hat
28.12.19 18:48
363
Warren Buffett spurned Tiffany as deal drought continue...
02.1.20 09:44
364
Berkshire Hathaway B aufgestockt
27.1.20 19:56
365
RE: Berkshire Hathaway B aufgestockt
24.2.20 19:08
366
      RE: Berkshire Hathaway B aufgestockt
25.2.20 05:53
367
      RE: Berkshire Hathaway B aufgestockt
25.2.20 08:00
368
Berkshire und Apple
28.1.20 22:24
369
Apple-Rekord: 22 Milliarden Dollar Gewinn in drei Monat...
29.1.20 08:50
370
      Buffett verkauft seine Zeitungen
29.1.20 21:32
371
Charlie Munger, Buffett's Kompagnon hat auch seine eige...
14.2.20 22:36
372
RE: Charlie Munger, Buffett's Kompagnon hat auch seine ...
15.2.20 17:39
373
Halleluja, der Buffett-Letter für 2019 ist da
22.2.20 18:07
374
RE: Halleluja, der Buffett-Letter für 2019 ist da
22.2.20 18:50
375
Buffett sucht Verkäufer
22.2.20 19:04
376
Berkshire zahlt 1,5% aller Steuern
22.2.20 19:06
377
RE: Halleluja, der Buffett-Letter für 2019 ist da
23.2.20 19:25
378
Berkshire Buyback
24.2.20 20:29
379
Berkshire Hathaway Valuation
29.3.20 21:20
380
RE: Berkshire Hathaway und eine Pandemie
26.4.20 20:04
381
RE: Berkshire Hathaway und eine Pandemie
26.4.20 21:44
382
      RE: Berkshire Hathaway und eine Pandemie
26.4.20 22:16
383
Berkshire Hathaway -gewaltige mtM-Verluste in Q1 20
02.5.20 16:22
384
RE: Berkshire Hathaway -gewaltige mtM-Verluste in Q1 20
02.5.20 16:23
385
Berkshire Hathaway HV
03.5.20 14:26
386
Buffett's Brick Company Linked to Antifa in Online Cons...
13.6.20 19:18
387
RE: Buffett's Brick Company Linked to Antifa in Online ...
13.6.20 21:42
388
RE: Buffett's Brick Company Linked to Antifa in Online ...
14.6.20 01:23
389
      RE: Buffett's Brick Company Linked to Antifa in Online ...
14.6.20 11:32
390
      RE: Buffett's Brick Company Linked to Antifa in Online ...interessantgut analysiert
15.6.20 02:42
391
Berkshire Hathaway Buys Dominion Gas Assets in $9.7 Bil...
05.7.20 22:10
392
Investor Warren Buffett trumpft mit neuem Cash-Rekord a...
09.8.20 10:48
393
RE: Investor Warren Buffett trumpft mit neuem Cash-Reko...
09.8.20 10:53
394
Buffett kauft eigene Aktien
09.8.20 12:47
395
Berkshire = Apple
09.8.20 21:17
396
RE: Berkshire = Apple
10.8.20 12:20
397
      RE: Berkshire = Apple
10.8.20 12:55
398
      RE: Berkshire = Apple
10.8.20 15:21
399
      RE: Berkshire = Apple
10.8.20 15:45
400
Kommentar re Berkshire Q2 20
15.8.20 12:17
401
It Feels Like Deja Vu All Over Again
15.8.20 12:27
402
      Berkshire Makes a Bet on Gold Market That Buffett Once ...
15.8.20 15:31
403
Buffett’s Berkshire Wagers $6 Billion on Japan Trading ...
31.8.20 08:14
404
Happy 90th, Warren! from Bill Gatesinteressantwitzig
31.8.20 09:58
405
Snowflake - was ist los mit Warre?
15.9.20 04:06
406
RE: Snowflake - was ist los mit Warre?
15.9.20 06:48
407
      RE: Snowflake - was ist los mit Warre?
15.9.20 11:36
408
Berkshire und die Präsidentenwahl
07.11.20 07:39
409
Werden Warren Buffett und Berkshire Hathaway 2021 erneu...
30.12.20 11:35
410
Annual Letter für 2020interessant
27.2.21 15:08
411
RE: Annual Letter für 2020
27.2.21 17:48
412
RE: Annual Letter für 2020
27.2.21 19:03
413
RE: Annual Letter für 2020
27.2.21 19:12
414
RE: Annual Letter für 2020
27.2.21 19:30
415
RE: Annual Letter für 2020
27.2.21 20:45
416
      RE: Annual Letter für 2020
27.2.21 22:59
417
      Warren Buffett Won’t Take the Reddit Bait
02.3.21 11:09
418
      Warren Buffett als er noch jung war...
10.3.21 20:49
419
      RE: Warren Buffett als er noch jung war...gut analysiert
10.3.21 23:37
420
      RE: Warren Buffett als er noch jung war...
11.3.21 08:38
421
      RE: Warren Buffett als er noch jung war...
11.3.21 10:49
422
Tilson: Berkshire Hathaway 'is not a get-rich stock, it...
01.3.21 19:05
423
RE: Tilson: Berkshire Hathaway 'is not a get-rich stock...
01.3.21 20:03
424
      RE: Tilson: Berkshire Hathaway 'is not a get-rich stock...
02.3.21 02:40
425
      RE: Tilson: Berkshire Hathaway 'is not a get-rich stock...
02.3.21 08:41
426
11,7 Mrd. Gewinn in Q1 21
01.5.21 19:47
427
Berkshire Hathaway HV Live Stream
01.5.21 20:00
428
RE: Berkshire Hathaway HV Live Stream
02.5.21 08:38
429
Warren Buffett says Greg Abel is his likely successor a...
03.5.21 15:26
430
Berkshire Hathaway - Q2 2021
08.8.21 10:25
431
Warren Buffett Calls It Right on EV Batteries
14.8.21 20:24
432
Buffett’s Berkshire Appetite Surpasses Cash Spent on Ap...
06.11.21 23:01
433
Buffett’s Cash Pile Tops Record With $149.2 Billion On ...
06.11.21 23:06
434
      RE: Buffett’s Cash Pile Tops Record With $149.2 Billion...
06.11.21 23:33
435
      RE: Buffett’s Cash Pile Tops Record With $149.2 Billion...
07.11.21 08:50
436
Buffett's Berkshire bought Activision shares before Mic...
15.2.22 08:19
437
Charlie Munger explains why Berkshire didn't make any b...
18.2.22 18:15
438
Buffett steigert Gewinn kräftig
26.2.22 20:19
439
RE: Buffett steigert Gewinn kräftig
26.2.22 20:19
440
Berkshire Hathaway berichtet erstmals zu ihren Klimazie...
27.2.22 11:48
441
CalPERS to vote to replace Buffett as Berkshire chairma...
20.4.22 09:26
442
Livestream der Berkshire Hathaway HV
30.4.22 16:38
443
RE: Livestream der Berkshire Hathaway HV
01.5.22 12:33
444
      RE: Livestream der Berkshire Hathaway HV
01.5.22 12:44
445
Berkshire Hathaway hält operativen Gewinn stabil
01.5.22 09:56
446
Apple reports record revenue of $83B
29.7.22 06:56
447
Warren Buffett’s Berkshire Takes a Beating on Auto Insu...
05.11.22 20:12
448
RE: Warren Buffett’s Berkshire Takes a Beating on Auto ...
05.11.22 20:15
449
Berkshire Hathaway - Fourth Quarter Earnings 2022
25.2.23 19:28
450
RE: Berkshire Hathaway - Fourth Quarter Earnings 2022
25.2.23 19:34
451
Berkshire Hathaway Q1
06.5.23 20:55
452
Berkshire Hathaway - Starkes Q2-23
05.8.23 19:26
453
Berkshire Hathaway - Starkes Q2-23- Am All-Time-High
07.8.23 15:38
454
Berkshire Hathaway - 46% Apple
07.8.23 08:06
455
Berkshire Hathaway - langsam reich
07.8.23 08:08
456
RE: Berkshire Hathaway - 46% Apple
07.8.23 11:47
457
      RE: Berkshire Hathaway - 46% Apple
07.8.23 12:03
458
Berkshire Hathaway - Q3 2023
04.11.23 17:39
459
Apple-Kursverfall bringt Warren Buffett Milliardenverlu...
05.11.23 08:21
460
Berkshire Hathaway aiming at $1 trillion market value
12.2.24 08:21
461
Warren Buffett hat ein eigenes Stofftier
14.2.24 10:57
462
Berkshire Hathaway Ergebnis 2023: 96,2 Mrd. Gewinn (ink...
24.2.24 17:05
463
Berkshire Hathaway Buyback
24.2.24 17:08
464

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