Berkshire Hathaway said first-quarter profits had jumped more than 50 per cent from the year-ago period because of insurance gains and overall growth from the $268bn conglomerate’s diverse mix of business. [...] The largest contributor to the rise was insurance underwriting profits of $901m, compared with $54m last year. The rise included a one-off gain of $255m related to amendments to a contract with a unit of Swiss Re. Overall revenues of $43.9bn rose from $38.1bn a year ago.
Berkshire Hathaway's 1st Quarter Press Release and 10Q filing.
The Berkshire Hathaway Q&A (Omaha World-Herald)
During more than five hours of fielding questions from shareholders, journalists and financial experts, Berkshire Hathaway Chairman and CEO Warren Buffett and Vice Chairman Charlie Munger were asked why they do what they do, what changes they would consider and what the secrets of their success are.
For more detailed notes on the Q&A session, here's an account of it from the Motley Fool BRK-A board.
Warren Buffett's Candy: His Sweet Tooth for See's Candies, Dairy Queen (YouTube / Bloomberg Video)
Bloomberg's Betty Liu profiles the sweet side of Warren Buffett's empire with See's Candies and Dairy Queen as both companies look to expand while keep commodity costs under control. She speaks on Bloomberg Television's "In The Loop."
Berkshire Hathaway Shareholder Meeting Picketed By Utah Coal Miners (Huffington Post)
Dozens of Utah coal miners are picketing outside the Berkshire Hathaway's annual meeting in downtown Omaha. The protesters are members of United Mine Workers of America who work at Deer Creek mine near Huntington, Utah. The mine is run by a subsidiary of Berkshire's MidAmerican Energy Holdings Co. The union's contract expired in January, and the union and company are disagreeing on health care coverage and safety checks.
Berkshire's B-Share Generation (The Street)
Nick Antoine traveled to Berkshire Hathaway's annual shareholder meeting with air miles and lodged in a "dirt cheap" hotel room with a ceiling that leaked water from an overflowing toilet a floor above. The 24 year-old Princeton University graduate was forced to splurge on taxis due to unseasonably cold weather at the May 4 investor gathering in Omaha, Nebraska. [...] Twenty-somethings like Antoine describe the pilgrimage to Omaha as an affirmation of independent thinking in business and investment. Buffett's values and Munger's lucidity also carry an appeal beyond their stewardship of Berkshire and its more than 80 operating subsidiaries. Those youthful shareholders are building in number, according to longtime attendees of Berkshire's meeting. The company has dramatically expanded its investor base since splitting Class B shares, first issued in 1996, by 50-to-1 in 2010.
The Cult of Buffett (Fool Video)
The Berkshire Hathaway annual meeting has reached a cult-like status. People flock from around the world to hear words of wisdom from the Oracle of Omaha. But what did Warren Buffett actually reveal about the inner workings of Berkshire?
Here's How Warren Buffett Disappointed Me (Fool)
The Berkshire Hathaway annual meeting is attended by throngs of Berkshire faithful. For some shareholders at the meeting, it's probably impossible for Berkshire CEO Warren Buffett to ever be wrong in their eyes. If we're being realistic, though, Buffett does indeed have his slip-ups. As partner-in-crime Charlie Munger put it: "Just because Warren thought something years ago doesn't make it a law of nature." With that in mind, I rounded up the team of Fools who attended this year's Berkshire meeting to ask in what ways Buffett disappointed them during the meeting.
25 Surprising Facts About Berkshire Hathaway (Fool)
Berkshire's roots go back more than 174 years to the founding of textile manufacturer Valley Falls Company, which itself merged with Berkshire Cotton Manufacturing Company in 1929. The resulting company merged with Hathaway Manufacturing to create Berkshire Hathaway in 1955.
In 2010, Warren Buffett said he considered Berkshire the "dumbest" stock he ever bought. Why? Because in 1962 he acquired his controlling stake in anger when one of its managers short-changed him in a tender offer to the tune of $0.125 per share. After he fired the manager, Buffett realized he had committed too much of his money to a "terrible" textiles business, which he fought to save for 20 years before giving up. By Buffett's estimation, that mistake cost him more $200 billion in compounded returns.
Berkshire Sells Debt to Buyers Buffett Pities (Bloomberg)
Berkshire Hathaway Inc.’s $1 billion note sale shows that while Chief Executive Officer Warren Buffett may pity investors who’ve stuck with bonds as yields fall to record lows, he’ll sell them as much debt as they want.
The company’s Berkshire Hathaway Finance Corp. sold five-and 30-year securities offering the company’s lowest coupons for those maturities ever.
New book teaches children ABCs of Warren Buffett's Berkshire Hathaway (NDTV)
Two Omaha residents, author Nancy Rips and illustrator Tom Kerr, have teamed up on "My First Berkshire ABC" to teach children about one of the world's best-known companies, and a little about the local billionaire behind it. [...] Most pages show companies that Berkshire owns or invests in. G, for example, is for "Geico," and features the car insurer's talking gecko. And W is for "Wells Fargo", and features the bank's familiar stagecoach.
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