Monday, 27 April 2015
Last updated 6 hours ago
May 6 2013 | 1:42pm ET
Warren Buffett did not appear especially impressed by his designated bear, Seabreeze Partners Management's Douglas Kass, at Berkshire Hathaway's annual meeting this weekend.
Buffett tapped Kass to serve as one of his three interrogators on Saturday, an event widely known as "Buffettstock" in Omaha, Neb. But Kass' negativity about Berkshire didn't make Buffett flinch.
Indeed, Buffett's number two, Charlie Munger, chided Kass, saying he could "make the short-seller's argument even better than he did."
Kass said that Berkshire was in danger of becoming an index fund due to its sheer size, forcing it to hunt "elephants" rather than "gazelles." He also said he fears that the 82-year-old Buffett's successors won't enjoy the same advantages.
To the first criticism, Buffett acknowledged that Berkshire will not grow as much as it has in the past, but that it will still generate value. To the second, he said Berkshire's brand will supplant his own when he finally retires.
"You haven't convinced me to sell the stock yet, Doug," Buffett said. "Keep trying."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…