So who is Warren Buffett, and where exactly did he come from? As CCTV’s Mat Morrison reports, the answers lie in a small city in Nebraska.
A Glimpse to the Life of Warren BuffetSo who is Warren Buffett, and where exactly did he come from. The answers lie in a small city in Nebraska as CCTV's Mat Morrison reports.
Businessman, family man and philanthropist — Warren Buffett is an icon in Omaha, Nebraska. The 82-year-old father of three is worth an estimated 53 billion dollars, but lives in this modest house, far from the hustle of Wall Street.
Buffett transformed the textile firm Berkshire Hathaway into an investment powerhouse in the 1960s. After a shaky start, Buffett quickly recovered and is now the pride and joy of Omaha — or as he is known worldwide, the Oracle.
Like any self-respecting Nebraskan, Buffett loves a good steak and gets his fill here, at one of his favorite restaurants. There is no doubt that over his career Buffett has proven good for businesses — big and small.
But there are concerns now that Warren Buffett has lost his touch. He’s failed to beat the market in four of the past five years. Today he further disappointed investors as his company missed estimates.
Berkshire Hathaway’s first-quarter net earnings fell 6.6% to 4.7 billion dollars from the same period a year ago.
A drop for Berkshire’s insurance operations was the biggest negative.Wall Street closely monitors the Berkshire earnings report because the conglomerate invests in companies that touch many consumers’ lives– including Coca-Cola, ExxonMobil and Wal-Mart.
Berkshire A shares also closed down less than 1% at $192,255. For more on Buffett and Berkshire Anchor Phillip Yin is joined by Charles Ortel, Managing Director of Newport Value Partners.