Hints and tips:
...The company disclosed that its auto insurer Geico had passed along higher rates to customers and had suffered fewer claims, lifting its results....
...Berkshire would acquire Geico, a motor insurer, in 1996, expanding its operations that began in 1967 with the purchase of National Indemnity, an Omaha-based property and casualty insurer....
...Should companies be punished for handing money back to shareholders? The Department of Justice seems to think so....
...Its utilities provide power to 13mn customers and in Geico it owns one of the largest insurers in the country. Combs and Weschler were plucked from relative obscurity to help run this portfolio....
...Buffett’s sprawling conglomerate, which owns the BNSF railroad and Geico insurer, first invested in the iPhone maker in 2016 at the direction of one of his two investment deputies: Todd Combs and Ted Weschler...
...The gains were fuelled by strong results from Berkshire’s insurance unit, including at Geico, as well as higher interest rates....
...Its utilities provide power to 13mn customers and in Geico it owns one of the largest insurers in the country....
...However, its likely sale also marks something much bigger: the first major casualty of the streaming wars, according to the FT’s editorial board. And there could be more to come....
...The acquisition by Berkshire, whose related interests include car insurer Geico and dealership Berkshire Hathaway Automotive, was regarded as a vote of confidence in the US economy and more particularly...
...Extracting better returns from Berkshire’s existing businesses is likely to take on greater importance as the game-changing deals that built Buffett’s reputation, such as the 1996 acquisition of motor insurer Geico...
...The company’s Geico auto-insurer, which had struggled to cope with payouts on claims for much of the past two years, showed improvement....
...There were, he said, few deals that offered the kind of transformative impact past takeovers have had, such as its purchases of insurers Geico and National Indemnity or the BNSF railroad....
...But investors said they would be closely scrutinising Buffett’s annual letter next February for any indications that change is afoot at the conglomerate, which counts insurer Geico and the BNSF railroad...
...The sprawling conglomerate is now worth more than $780bn, with stakes in Apple, Coca-Cola and Bank of America as well as ownership of the BNSF railroad and Geico insurer....
...Companies once valued at more than $1bn including Hopin and Convoy were among the casualties. “In some ways, dry powder is a mirage....
...US chipmaker Broadcom will complete its acquisition of cloud software company VMware on Wednesday, the two companies announced after China approved the $69bn deal....
...Geico reported a second consecutive quarter of underwriting profits, following more than a year of losses....
...Italy’s Nexi is one casualty. Shares have traded below its 2019 listing price for most of this year. Speculation of a private equity bid sent them soaring last week....
...Terry Smith and Nick Train suffer outflows The continued march of cheap passive equity offerings and the more recent move towards high-yielding cash products has two prominent casualties: Terry Smith and...
...Our first pick, the property casualty reinsurer and primary insurer Everest Group, ticked all our boxes well: a cheap stock with a history of delivering growth, and with industry tailwinds to boot....
...Investors were buoyed by the fact that Geico, the company’s auto insurance unit, posted a second consecutive quarterly profit after more than a year of losses....
...One of the casualties is Swedish property company SBB, which borrowed heavily during a local boom. Fitch downgraded the company to B- this week. Commercial real estate is in even worse shape....
...But this year, Abel — heir apparent to lead the $710bn conglomerate that includes the BNSF railroad, private jet operator NetJets and insurer Geico, as well as the other public and private groups Berkshire...
...One of Berkshire’s crown jewels, the Geico auto insurer, swung to an underwriting profit after six consecutive quarters of losses....
...Casualties in recent months have included the Punk Subversive Metaverse ETF and the AdvisorShares Drone Technology ETF. BlackRock has no Midas touch, either....
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