Reading Time: < 1 minute Steve took interview from local West Virginia TV station (link here Part 1 Part 2 Part 3 Closing My thoughts

Reading Time: 2 minutes (Update 04May09) Buffett CNBC interview. (Monday Becky Quick) I did not go to the Berkshire annual shareholder meeting, partly because of the recession (cost cutting), partly because I sold the stock recently (note: one does not have to buy stock to get the admission ticket, they sell it at $5 on eBay). There are live

Reading Time: 2 minutes I remember a few years ago Warren expressed his dismal view on Newspapers future (in his annual shareholder letter). A few days ago Redstone (the controlling shareholder of CBS and Viacom) said something similar in an interview. “The reason we have not gone to newspapers is because its a slow growth industry and I think

Reading Time: < 1 minute (Update 02May09) 4 ways to follow the meeting. (Original) David Sokol is the Chairman of Mid-American Engergy holding, a subsidiary of Berkshire Hathaway (NYSE: BRK.A; BRK.B). He took interview from Becky Quick of CNBC today. The Berkshire annual shareholder meeting starts tomorrow. CNBC BuffettWatch will follow minute by minute. Some people expect shareholders will ask

Reading Time: < 1 minute A guranteed way to lose money: listen to so-called experts. Barrons is a pretty reputable magazine in investment community. I read them, but I don’t listen to them. Here is an example: the reporting card of Barrons Roundtable 2008. Every year (Jan) Barrons will assembly a group of experts, from famous money managers to analysts

Reading Time: < 1 minute We often from financial experts that volatility in our portfolio is bad. Or in other words, not only do we want good return, but we also want the path to that is smooth. I think most people would agree with that. My CFA preparation book also talked about this idea in “Portfolio Management” section. So

Reading Time: < 1 minute (Update 04May09) CNBC interview. (Update 01May09) Today PBS Nightly Business Report (NBR) Susie Ghalib interviewed Charlie Munger at Omaha. (Original) One lesson I should learn from him: trade less.

Reading Time: < 1 minute Yesterday was series one. The series is about the new stimulus package, economy and comparison of (1930s) new deal with current stimulus package. The first one showed many St. Louis landmark, such as St. Louis zoo, Forest Park (Jewel Box). I did not know many of those were built in 1930s (the New Deal). StreamVideo

Reading Time: 2 minutes Week in review 042009 – 042509 According to Obama administration‘s stress test, the magic number is 19. Basically they are saying the US gov will do whatever necessary to keep the big ones afloat because they are systematically important. Or in laymen’s words, they are too big to fail. Sorry, those smaller ones, I mean

Reading Time: < 1 minute (Update 24Apr09 afternoon) Sold my position. Moody just downgraded its debt rating: reminds me of the WaMu debt rating downgrade shortly before its fall. (Original) Warning: this is a very speculative play. Also don’t confuse this with CitiGroup (NYSE: C). The ticker of CIT group at NYSE is CIT. (Source: NYSE) 4 Analysts downgraded this