Hints and tips:
...Berkshire Hathaway’s cash pile surged to a record $157bn in a quarter in which chief executive Warren Buffett continued to sell stakes in publicly traded companies, as the so-called Oracle of Omaha found...
...The failure of one of Drexel’s biggest clients, the Executive Life Insurance Company, destroyed the retirement incomes of thousands of Americans....
...But equally important are the public investments — stakes in companies such as Apple and Bank of America — that make Berkshire more akin to a mutual fund than a regular business....
...On the last Sunday of April 2019, a sleek Gulfstream V jet belonging to Occidental Petroleum touched down at Omaha airport....
...Containment of the number of new cases has been impressive in mainland China, and we now expect a V-shaped recovery from the second quarter onwards there....
...He was previously chief executive of Barclays Private Bank for Europe, Emea and Monaco. Rodney Cook has quit as chief executive of Just Group after a turbulent year for the life insurance company....
...In our view, the increased profitability is largely a function of the company’s adoption of IFRS 15....
...; (iv) assist in the payment of sickness benefits; and (v) protect supply-chain financing in response to the coronavirus....
...as life returns to normal in 2021....
...But then Bogle made a fateful mistake, merging Wellington with an aggressive young mutual fund company in Boston....
...The situations where a non-professional might be asked to be a trustee include cases where someone had been advised to put a life insurance policy into a trust....
...Eventually, in 2012, he signed Mutual of Omaha, an insurance company based in Nebraska. The contract gave him the confidence he needed to quit his job....
...“float” produced by the disciplined underwriting of his insurance companies and the surplus cash flow generated by his portfolio of unquoted companies, which now make up 80 per cent of Berkshire Hathaway...
...In his four years-plus at the top of Royal Bank of Scotland, the group has been condemned for everything from Libor-rigging and mis-selling payment protection insurance to failure to bring about a UK economic...
...stake Japan’s Dai-ichi Life Insurance and Fukoku Mutual Life Insurance are among the companies shortlisted to buy a minority stake in Indonesia’s Panin Life for about $200 million, sources said. http://...
...Among the corporate figures given CBEs is Vanni Treves, former chair of Equitable Life, who joined the company in 2001 just after the UK’s oldest mutual insurer had closed to new business....
...‘AA+’ from ‘AAA’ its long-term counterparty credit and financial strength ratings on the member companies of five U.S. insurance groups: Knights of Columbus, New York Life, Northwestern Mutual, Teachers...
...Mr Masilela joined the PIC from the private sector, where he was head of pension policy at Sanlam, South Africa’s second largest life assurer, after Old Mutual....
...Mutual fund managers are naturally pleased with the changes. They argued that before the new norms, the playing field had been tilted in the favour of Ulips and the insurance companies....
...In 2004, Fortune named him a member of its eight-person ‘Mutual Fund Dream Team’....
...So with that caveat, here are some valuation rules of thumb: I have NEVER in my life paid more than 20x current year normalized earnings for ANY company....
International Edition