Pittsburgh (NUFIC) and Hartford Steam Boiler Inspection (HSB). Their financial information are consolidated in AIG’s financial statements. The scandal also involves another corporation General Re Corporation. General Re is a subsidiary of Berkshire Hathaway, Inc., an investment group run by the billionaire Warren Buffet. General Re also has subsidiaries all over the world and together and it is one of the biggest reinsurance companies in the World. Reinsurance companies are entities that insure
Words: 281 - Pages: 2
as finite insurance (How Hank Did It). AIG booked $500 million as income for the loss portfolio transfer and then added $500 million in reserves for the year 2000. The parties also at fault were the executives from General Re, a subsidiary of Berkshire Hathaway. This involved a loss portfolio transfer from General Re (the primary insurer) to AIG (the reinsurer). The transaction should not have been counted as an
Words: 302 - Pages: 2
person in the world 2008 with $62 billion, and the third richest in 2010 with 47 billion • Lives in the same house in the central Omaha that he bought in 1958 for $31,500 and today, it is valued at around $700,000 • Largest shareholder and CEO of Berkshire Hathaway • Recent News: – Invested aggressively during the current crisis – Lost $25 billion in 2008-2009 – Called for more income tax for rich Americans (but not necessarily investment tax) Warren Buffett Australian School of Business
Words: 1872 - Pages: 8
Yahoo, Warren Buffett and $1 Billion Contest Eric J. McGlashing Feb 10, 2014 TOPICS: Insurance, Risk and uncertainty SUMMARY: A lawsuit involving Yahoo sheds light on the insurance policies that enable contest prizes like the $1 billion Warren Buffett is offering to anybody who predicts the winner of every March Madness basketball game. CLASSROOM APPLICATION: Students can struggle with framing the problem of the uncertainty involved in calculating expected payment and the risk involved
Words: 707 - Pages: 3
Finding Great Companied to Invest In Warren Buffet, Chairman of Berkshire Hathaway says, “It is best to invest in great companies at a fair price than a fair company at a great price.” That’s a pinnacle statement about Buffet’s investment style. So, to invest like Buffet, you need to know what features denote a great company. Please read and reread the following carefully. A great company has a competitive advantage. It has a consumer monopoly, and like a great fortress, has a moat preventing
Words: 583 - Pages: 3
IDOL : WARREN BUFFET INTRODUCTION Warren Buffett is an American business magnate, investor, and philanthropist and widely considered the most successful investor of the 20th century. Buffett is the chairman, CEO and largest shareholder of Berkshire Hathaway and consistently ranked among the world's wealthiest people. He was born to Howard and Leila Buffett in Omaha, Nebraska on 30th August 1930. He was the second of three children, and the only boy and his father was a stockbroker and four-term
Words: 1146 - Pages: 5
doing wrong then it would never be correct and the mistakes will become frequent if not corrected. In the hospitality and tourism industry my plan is to eventually manage a real estate agency in hospitality. With the internship that I have at Berkshire Hathaway HomeServices this semester has taught me an incredible amount of useful information about the business. I am extremely grateful for the opportunity to learn more about the hospitality industry from the real estate view. My plan to get
Words: 320 - Pages: 2
$16.4 trillion in debt the country has collected is not the number on which everyone should be focused. "It is not a good thing to have it going up in relation to GDP, that should be stabilized, but the debt itself is not a problem," the CEO of Berkshire Hathaway (NYSE: BRK.A) told CBS' "Sunday Morning" this weekend. Buffett said the country's debt is a "lower percentage of GDP than it was when we came out of World War II. You've got to think about in relation to GDP." Here's why debt-to-GDP
Words: 357 - Pages: 2
FINANCIAL MANAGEMENT http://mycourses.hult.edu MODULE B 2012-13 INSTRUCTOR Professor Xiaozu Wang EMAIL xiaozu.wang@faculty.hult.edu INSTRUCTOR AVAILABILITY Please contact by email CLASS TIMES & ROOM(S) MIB1: Jan 7, 9, 11, 15, 17, 21, 23, 25, 1:30-4:50, Feb. 1, 9:00-12:20, Feb. 7, 1:30-4:50 COURSE AIMS AND DESCRIPTION OF CONTENT This is an introductory course of finance for MIB students. The course aims to provide students with a conceptual framework and a set of technical tools for
Words: 3258 - Pages: 14
Masswarehouse (Warehouse club), Massbuild (Home improvement retailer and building materials supplier) and Masscash (which consists of wholesale food and cosmetics businesses as well as retail food outlets). Warren Buffett, Chairman and CEO of Berkshire Hathaway Inc., and his Vice-Chairman, Charlie Munger, outlined four criteria for a great company of which I will base my analysis of the Massmart Group on. These criteria are now popularly known as Buffet and Munger’s “Four filters” invention.
Words: 1699 - Pages: 7
