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Added on the 27/12/2020 19:33:49 - Copyright : Wochit
'The Deals of Warren Buffett Volume 2: The Making of a Billionaire' reveals how Buffet gave Microsoft founder Bill Gates some 'marital' advice. According to Markets Insider, the Berkshire Hathaway boss took Gates and his future wife, Melinda, ring shopping at Borsheims--one of Buffet's businesses. That's when Buffett told Gates that he'd spent 6% of his net wealth on an engagement ring in 1951--and Gates should do the same. At the time of the 1993 romantic shopping trip, Gates was worth around $6.2 billion. Unfortunately for Buffet, Gates declined to shell out $370 million — nearly $660 million in today's dollars.
Warren Buffett has a history of endorsing candidates for President. He's endorsed Barack Obama and Hillary Clinton. Yet, Business Insider reports that Buffett has not endorsed Joe Biden. The billionaire investor and Berkshire Hathaway CEO has defended his right to take a political stance. He may be worried about angry customers, or disgruntled employees, if he takes a side in this election. "You have to be careful about when you do speak because it's going to be assumed you're speaking on behalf of your company," he said during last year's annual meeting.
New research suggests that Warren Buffett's Apple investment might not payoff over the next decade. Dimensional Fund Advisors tracked the largest 10 US stocks at the start of each decade since 1930. Business Insider reports that DFA found that on average, they underperformed the market by 1.1% over the next five years and 1.5% over 10 years. Apple is the most valuable US stock with a $2-Trillion market capitalization. Buffett's Berkshire Hathaway counts Apple as the biggest holding in its equity portfolio. The investor's company has more than tripled its money on Apple in less than five years. The company might not gain significantly more for a long time.
Business magnate Warren Buffett challenged Republican presidential nominee Donald Trump to reveal his income tax returns, while speaking at a rally alongside Democratic presidential nominee Hillary Clinton, at the Omaha North High Magnet School in Omaha, Nebraska on Monday.
The legendary billionaire investor tells CNBC he just bought more shares of IBM. Also on his buy list: car dealerships. Fred Katayama reports.