Joseph Brandon, Chairman and Chief Executive Officer of General Re Corporation, a wholly owned subsidiary of Berkshire Hathaway Inc., has decided to resign effective today. Franklin “Tad” Montross, President of General Re Corporation, will replace Mr. Brandon as Chairman and Chief Executive Officer of General Re Corporation.
It is a Buffett Company …
NO REASON GIVEN … […]

Warren Buffett at his BEST
Whatever one might think of him … some of his thoughts are worth the time to read!
I love his explanation on PAGE 19 … as he plays with numbers to give you a hint that one thing is for sure:
Past performance has nothing to do with future results […]

… and everybody cheers … close to being unbelievable …
Buffett offers to take on “all” Muni Bonds … the least risky and juciest of the bond insurers’ portfolios …
Good move for him … but bad move for the bond insurers … even he expects them to PAY UP for this favor to him …
But […]

Bond insurer ACA’s rating was slashed by S&P from A to CCC in December, but they gave them a lifeline, which expired Friday. If the CCC rating now becomes effective, it will create the next round of write offs at financials.
Friday now, Fitch cut Ambac’s rating from AAA to AA. Moody’s warned last Wednesday, that […]

Here we go …
- Bank of America buys Countrywide Financial in a stock deal for 4 bln$.
- JP Morgan is rumoured to snap up Washington Mutual or somebody else. CNBC says, they want to do something!
- Buffett is said to consider buying a troubled bond insurer.
Ok, we used to see Asian and Arab money buying […]

Situation:
U.S. Markets: After exactly hitting major support zones, markets turned around and closed better than 1% up. Goldman and Merill predict, that US is in a recession already. Short covering ahead of today’s Bernanke speech and vague rumours od FED action today started short covering. Alcoa beat estimates and moved up more than 2% after […]

Situation:
U.S. Markets: Markets sold off big time after the FED decision to cut rates each by 25bps … Nasdaq best performer with 2,4% loss, the Russell lost 3,7% …
So, America followed the Dax, rebreaking the downtrends.
But … reading the statement and trying to make sense of it …
isn’t it positive, that the FED is […]

The US keeps us busy, guessing, whether the consumer still is in the right spending mood (have a look at TechCrunch) to drag the market higher …
First results show positive results, showing a 8.3% increase on last year and online traffic to merchant sites up 61(!!!)% compared to last year.
Another possible good news for the […]