Home » Tech

Warren Buffett rips hedge funds for 'huge' fees, defends immigration

26 February, 2017, 00:48 | Author: Jan Cross

Investors who wanted billionaire Warren Buffett to address the current state of the world in his annual letter to Berkshire Hathaway shareholders will likely be disappointed, but they can still take some comfort in his consistently rosy long-term outlook for the US economy.

Berkshire on Saturday also said fourth-quarter profit rose 15 percent from a year earlier, as gains from investments and derivatives offset lower profit from the BNSF railroad and other units. Buffett is planning to release his annual letter to Berkshire Hathaway shareholders on Saturday, Feb. 25, 2017.

The 2015 deal to collect 20 per cent of IAG's insurance premium revenue represented 37 per cent - or about $US1.72 billion ($2.24 billion) - of the Berkshire reinsurance division's property and casualty earned premiums previous year. Operating earnings per Class A equivalent share fell to $2,665 from $2,843 in the past year period. Berkshire said those operating earnings totaled $1.78 per Class B share.

Berkshire Hathaway Energy, another major business, posted a 2 percent increase in profit, to $432 million.

Manufactured homes are often bought by people with low credit scores and incomes, with financial profiles that Buffett said can be easily damaged by divorce or death.

Instagram Posts Expand to Include Multiple Photos
Up to ten photos or videos (in any combination) can be shared at one time, with your followers able to swipe through the images. You can spot or locate the new feature which appears as a button for selecting multiple photos when you go to your post feed.


74 bodies of migrants wash up on Libyan coast
The deaths of migrants have risen to record levels along the Libya-Italy smuggling route across the Mediterranean Sea. The agency said traffickers deliberately took the engines from the boat and then abandoned it to drift.


UPS Showcases New Delivery Drone, Fucks It All Up
The drone then returned to the vehicle where the driver was then able to return to the vehicle and go on to his next destination. This drone has a 30-minute flight time (charging while docked), and has the ability to carry a package weighing up to 10 pounds.


Edward Jones analyst Jim Shanahan said he didn't see many surprises in Buffett's letter.

Buffett had previously said Berkshire would probably only exercise the warrants just before expiration.

Berkshire's Class A shares have gained 29% in the past year to $255,040.00 a piece.

Berkshire also owns dozens of stocks including Apple Inc, Coca-Cola Co, Wells Fargo & Co and the four biggest US airlines, and more than one-fourth of Kraft Heinz Co.

But Buffett lavishly praised Berkshire executive Ajit Jain, widely considered a leading CEO candidate, for smoothly running much of the conglomerate's insurance businesses.

Recommended:

  • Chelsea Vs Swansea City

    Referee Neil Swarbrick didn't see the wrong in the occasion, and the game went on. Chelsea's high pressure even nearly resulted an own goal from Fabianski.
    Huawei Honor V9 Launches with Android Nougat 7.0 and EMUI 5

    Huawei Honor V9 Launches with Android Nougat 7.0 and EMUI 5

    For example, it comes with Android 7.0 Nougat operating system on board and features a powerful octa-core processor inside. The device uses a hybrid SIM card tray where the second SIM card space can be used for adding a microSD card, up to 256GB.
    Over 100 Jewish headstones in Missouri cemetery vandalized

    Over 100 Jewish headstones in Missouri cemetery vandalized

    Campaigners said that any additional funds raised would be used to "assist other vandalized Jewish centers nationwide". More than 100 headstones at the Chesed Shel Emeth Cemetery in University City were damaged, WDAF-TV reported Tuesday.
  • Bangladeshi stabbed to death in NY

    February 22, 51-year-old Taha Mahran confronted tenant Zakir Khan , 44, over unpaid rent, according to a New York Post report. A New York City landlord was charged with murder after police say he stabbed a tenant to death over unpaid rent.
    OH  policeman helps girl, 10, with maths homework

    OH policeman helps girl, 10, with maths homework

    Many praised the officer for their willingness to help, although some noted that some of their advice actually was incorrect. Gruber, who manages the Marion Police Department's Facebook page , accepted the critique of his work with humor.

    Iraqi forces capture key village near Mosul airport

    As the Iraqi army surges against the enemy on the west side of Mosul, U.S. and coalition troops are moving closer to the action. On Sunday, Iraqi Prime Minister Haider Abadi announced the start of the operations to liberate the western part of the city.
  • UFC's 'Black Beast' teases Ronda Rousey after knocking out her boyfriend!

    So I feel like I just need some time off. "I appreciate [the late stoppage]" Lewis said during the post-fight press conference. The 32-year Lewis is one of the hottest fighters going right now in the UFC, having won six straight bouts going back to 2015.
    Vid of Pregnant Giraffe Yanked for Being Too Sexual

    Vid of Pregnant Giraffe Yanked for Being Too Sexual

    LET THEM KNOW", Animal Adventure Park wrote on Facebook . "Sometimes we make the wrong call", YouTube's statement read. Her calf will weigh about 150 pounds and be about 6 feet tall at birth.
    Las Cruces council votes against Trump's border wall proposal

    Las Cruces council votes against Trump's border wall proposal

    A pair of memos signed by John Kelly, the secretary of homeland security, said the Trump administration plans to use the law. Trump's new immigration order is expected to give the government authority to speed deportations of illegal immigrants.
  • Bloomin' Brands, Inc. (BLMN) Downgraded to

    Bloomin' Brands, Inc. (BLMN) Downgraded to "Neutral" at Credit Suisse Group

    Breaking those down we see that the ratings are as follows: 3 Strong Buy, 1 Rated Buy, 4 Rated Hold and 0 Rated Sell. The company had revenue of $1004.10 million for the quarter, compared to analysts expectations of $1019.45 million.

    Cats Don't Cause Mental Illness, Study Finds

    In other words, having a cat around while you're a baby probably won't affect your mental health negatively later in life. Gondii ) infection is linked with mental health issues, including schizophrenia, suicide and intermittent rage disorder .
    Trump says media treated Flynn unfairly

    Trump says media treated Flynn unfairly

    Trump is said to favor Vice Admiral Robert Harward, a former Navy SEAL, according to a White House official. Harward met with top White House officials last week and has the backing of Defense Secretary Jim Mattis.


Popular

Mercedes-AMG Petronas launches 2017 F1 auto at Silverstone
I would not expect anything but the best from him. "How we've interpreted the rules.we will find out next week how our pace is relative to others". "But I'm excited by it and may the best man win".

Celine Dion thinks pregnant Beyonce will need 'help' raising twins
If her essay in leather goods works, she hopes to explore new territories like jewelry, women's and baby clothes and more. There's days where I feel it's been three years and then there's days it feels like it's it's not happening.

$65 flights to Europe: what's the catch?
With the addition of these routes, Norwegian now offers 55 routes from the USA ; 48 to Europe and seven to the French Caribbean. The Oslo-based low-priced carrier announced Thursday that was opening new flight crew bases at Rhode Island's T.F.

Iraq retakes Mosul airport amid cautious advances against IS
A special forces officer overseeing the operation said IS targeted the advancing troops with dozens of bombs dropped from drones. Isis seized control of Mosul in 2014, following a lightening advance from its territorial base in Syria.

The 1975 & Bastille Bring Some Rock & Roll to Brit Awards 2017
Red carpet coverage on ITV will be hosted by BBC Radio 1's Clara Amfo alongside TV personalities Alice Levine and Laura Jackson. The British music industry named Beyonce as the best female worldwide solo artist and Drake the best global male solo artist.

LG K10 Smartphone With 2GB RAM Launched in India at Rs.13990
Although the company was expected to unveil the entire K-series today, the South Korean giant has only launched the K10 as of now. The smartphone runs on Android 7.0 Nougat operating system out of the box, with LG's custom UX layer running on top of it.

Average Life Expectancy Increase By 2030 Globally
The prediction is both a blessing and a burden as more of us can look forward to getting the most out of our golden years. French girls, with an average of 89, and Swiss boys, almost 84, will have the highest life expectancies in Europe.

Jimmy Kimmel considering retiring from late-night show
The late-night landscape has dramatically changed since Kimmel started, with Jimmy Fallon and Stephen Colbert duking it out in the ratings race .

Azerbaijan's president appoints wife as VP
Mehriban is an eye doctor by training and comes from one of Azerbaijan's wealthiest and most influential families. Ilham Aliev came to power in 2003, replacing his father Heydar, who ruled the oil-rich country since 1993.

Oil prices climb as Citi raises forecast, OPEC targets 100% compliance
USA crude oil and gasoline inventories soared to record highs last week as refineries cut output and gasoline demand softened. Oil rose almost $1 to $54.35 a barrel on Tuesday morning after OPEC reiterated its agreement to further production cuts.