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Analyst says she disagrees with Warren Buffett on IBM

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  • Billionaire investor Warren Buffett said he sold 30 percent of his share in technology company IBM because of strong competition, but Kim Forrest, portfolio manager and vice president at Fort Pitt Capital Group, said on she does not think it is time to move away from the stock.
  • "It's not surprising to me that Warren would be somebody getting out at this point," Forrest added when speaking of the Berkshire Hathaway chairman and CEO. After IBM posted first-quarter earnings in April, which missed revenue expectations, the stock tumbled 5 percent in extended trading.

Berkshire profit falls as investment gains tumble

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  • Berkshire Hathaway, the conglomerate run by billionaire investor Warren Buffett, on Friday said first-quarter profit fell 27 percent, reflecting a big decline in investment gains.
  • Net income fell to $4.06 billion, or $2,469 per Class A share, from $5.59 billion, or $3,401, a year earlier.
  • Operating profit, which excludes investment and derivative gains and losses, fell 5 percent to $3.56 billion, or $2,163 per Class A share, from $3.74 billion, or $2,274.

Warren Buffett Sells One Third of IBM Stake

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  • On the heels of Berkshire Hathaway's annual meeting, CNBC's Becky Quick has reported that Warren Buffett has sold about a third of his stake in IBM in the first and second quarters of 2017.
  • Buffett is quoted as saying, "I don't value IBM the same way that I did six years ago when I started buying ... I've revalued it somewhat downward."
  • Buffett cited increased competition as one of the main drivers of his decision.

Hedge Fund Links ~ 5/5/17

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Tiger Global Buys More Apollo Again

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  • Chase Coleman's hedge fund firm Tiger Global continues to acquire shares of Apollo Global Management.
  • Per a new Form 4 filed with the SEC, Tiger Global bought 295,500 more shares of APO on May 1st at a weighted average price of $26.728.
  • After this latest buy, they now own over 30 million shares.

Lessons on sharing wealth and knowledge from Buffett’s star stock pickers

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  • Combs says he first saw Buffett during an appearance at Columbia Business School, were Combs was a student and Buffett an alumnus.
  • The surging value of Apple - and Berkshire's decision to rapidly expand its position - place it among Berkshire's top bets now that Buffett has put capital he runs alongside money first committed by Weschler.
  • Buffett told CNBC on Thursday that owning Apple is about the long term: "I don't own [Apple] because of what I think the earnings are going to be in the next three months or six months."

Hedge fund manager Tilson thinks Buffett's Berkshire is a great buy, worth 19% more

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  • Whitney Tilson of Kase Captial said Warren Buffett's Berkshire Hathaway should climb 19 percent just based on the value of the conglomerate's holdings.
  • Tilson estimates Class A shares of the Buffett conglomerate have an intrinsic value of $296,000 a share, 18.6 percent above $249,540 where they closed Thursday.
  • One year out, Tilson expects the shares to have a value about 30 percent more of $324,000 each.

Cramer: Warren Buffett's decision to sell shares 'devastating' for IBM

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  • "I think it's devastating for IBM. IBM spent a lot of time trying to figure out what Warren really wanted. felt what he really wanted was return of cash and buy back stock. I think to some degree, a return of cash and buy back stock has constrained that company," Cramer said on "Squawk Box.".
  • Late Thursday, Buffett told CNBC about Berkshire Hathaway's sale of roughly a third of its stake in IBM in the first and second quarters.

Billionaire peers Gates and Druckenmiller warned Buffett he'd be wrong on IBM

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  • Billionaire peers Bill Gates and Stanley Druckenmiller both warned Warren Buffett in 2015 he would be wrong on IBM. They were right.
  • "IBM became less of a technology company. It's really sad. It turns out, at least so far, Warren was wrong. Even with the enterprise customers, the cloud has not been saleable for them. I'm biased. IBM is a wonderful company but because I competed with them for many, many decades I have to say, I don't see their future as brightly as people who are long on the stock."

Are all "Graham" stocks junk?

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  • The common sentiment is that Graham-esque stocks, that is stocks that trade at low valuation multiples such as a stock trading at10x earnings and 75% of book are junk and a waste of time to research.
  • The stereotype of a value stock is a company producing shag carpeting run by managers wearing polyester suits with elbow pads who are wondering why sales are declining.
  • The resulting small list contained some sketchy biotech companies, a number of even sketchier Russian mining companies, as well as a few other resource and industrial companies.

Here are your 5 options for investing right now

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  • The US stock market is now selling for close to a record high valuation.
  • Sure, if US stocks are overvalued, then perhaps international stocks are a better bet.
  • The data is fairly decisive - US stocks selling at a high cyclically adjusted price earnings ratio do not historically offer the same upside on a forward basis that stocks selling at a low CAPE do.

Amazon's Jeff Bezos is 'the most remarkable business person of our age,' says Warren Buffett

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Investors should watch what Buffett buys, not what he sells, says billionaire Mario Gabelli

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  • Investors should watch what Warren Buffett is buying, not what he has sold, billionaire value investor Mario Gabelli told CNBC on Friday.
  • Gabelli, who has been attending Berkshire's annual meeting for years, started buying Berkshire's Class A shares some 30 years ago, when they went for about $2,000 each.
  • Late Thursday, Buffett told CNBC about Berkshire's sale of about a third of its stake in IBM in the first and second quarters.

Hey, You Invest Like a Girl!

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What an insult! No testosterone laden man would put up with a jab like that. Several studies have shown that women...

Warren Buffett: I'm a 'broken record' on the US economy, we're stuck at 2% growth

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  • Billionaire Warren Buffett told CNBC he's unfazed by the weak economic growth recorded in the first quarter, saying his view of the recovering U.S. economy remains the same.
  • The recovery from the Great Recession has been "Very steady," Buffett said.
  • The economy grew 1.6 percent for all of 2016, its worst performance since 2011, after expanding 2.6 percent in 2015.

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