@WSJ writer covering Wall Street and politics; Warren Buffett/Berkshire; whatever else they throw my way. Recovering M&A reporter.

Dow’s rising stock imperils Warren Buffett’s $8-per-second cash cow

marketwatch.com — Warren Buffett's Berkshire Hathaway Inc. continues to reap rich dividends from a canny loan extended to Dow Chemical Co. seven years ago. But a recent rally in Dow's stock is putting that income stream at risk.

Dow’s Buffett Ceiling: Stock Refuses to Cross Berkshire’s $8-a-Second Threshold

wsj.com — The Dow Jones Industrial Average's recent rise has lifted many stocks in Berkshire Hathaway Inc.'s portfolio. But Berkshire chief executive Warren Buffett is probably less thrilled with the rally in another Dow. Shares of Dow Chemical Co. have spent much of the past month hovering above $53-perilously close to a level that would cause Berkshire to lose a $255 million-a-year income stream.

Meet the Brothers Grooming Canada’s Next Corporate Titans

wsj.com — Their grandfather built it. Their fathers expanded it. Now the fate of one of Canada's biggest corporate empires is in the hands of two 34-year-old cousins who are largely untested in the business world. The Desmarais family controls Power Corp. of Canada, whose interests include stakes in giant companies on three continents.

What links Donald Trump’s economy team

efinancialnews.com — The Republican presidential nominee last week announced his team of economic advisers, calling the 14 men a "formidable group of experienced and talented individuals." The group, including nine drawn from real estate and finance, will help shape Trump's policies on trade, jobs, regulation and taxes. Those nine are united by more than their wealth.

What Links Donald Trump’s Economy Team

wsj.com — A group of high-profile investors who got rich buying up distressed assets have found their latest turnaround project: Donald Trump's campaign. The Republican presidential nominee last week announced his team of economic advisers, calling the 14 men a "formidable group of experienced and talented individuals."

Catastrophe bonds upend insurance industry

efinancialnews.com — The oddball securities have exploded in popularity, driven by pension plans, sovereign wealth funds and wealthy families seeking better returns. Investment banks and insurers' own securities-brokerage operations churn out billions of dollars a year in catastrophe bonds. There are "cat bonds" that pay off if too many people die in a pandemic.

Catastrophe bonds shake up insurance industry

marketwatch.com — Catastrophe bonds were invented in the early 1990s to help insurance companies mitigate the risk of disasters such as hurricanes and earthquakes. Today, like the very storms they protect against, catastrophe bonds are upending the insurance business. The oddball securities have exploded in popularity, driven by pension plans, sovereign-wealth funds and wealthy families seeking better returns.

The Insurance Industry Has Been Turned Upside Down by Catastrophe Bonds

wsj.com — Catastrophe bonds were invented in the early 1990s to help insurance companies mitigate the risk of disasters such as hurricanes and earthquakes. Today, like the very storms they protect against, catastrophe bonds are upending the insurance business. The oddball securities have exploded in popularity, driven by pension plans, sovereign-wealth funds and wealthy families seeking better returns.

Buffett’s Berkshire Hathaway Posts Higher Profit, Revenue

wsj.com — Berkshire Hathaway Inc.'s earnings and operating profit rose in the second quarter, largely tied to investment gains. Results fell short of analysts' projections. The conglomerate, led by renowned investor Warren Buffett, has been turning to acquisitions as a way to drive profit. The 85-year-old Mr. Buffett has made it known he is open...

Hedge-fund money: $48.5 million for Hillary Clinton, $19,000 for Donald Trump

marketwatch.com — Hedge funds are playing a far bigger role in 2016 than in past elections-and Hillary Clinton has been the single biggest beneficiary. Owners and employees of hedge funds have made $122.7 million in campaign contributions this election cycle, according to the nonpartisan Center for Responsive Politics-more than twice what they gave in the entire 2012 cycle and nearly 14% of total money donated from all sources so far.
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Aug 25, 2016

@CaseyJones325 @DanaMattioli the terms of the preferred will remain is our understanding.

Aug 25, 2016

RT @erikholmwsj: Is Buffett shorting Dow Chemical? Given chance to comment on that theory, he declined to say  http://on.wsj.com/2bAAdce  https://t.co/ylFd9KXOa8

Aug 25, 2016

@jgfarb @jasonzweigwsj Always has me imagining a bunch of flacks and a CEO standing by my desk as I type, pitching their product.

Aug 25, 2016

The Berkshire acquisition that never did really work as well as it could have.  https://twitter.com/NBuhayar/status/768836497017491456 

Aug 24, 2016

@bbakes18 @NBuhayar Or should I say, Buffett "might not" do anything unethical :)

Aug 24, 2016

@bbakes18 @NBuhayar Buffett wouldn't do anything unethical but as long as it's legal - and this - why not? Perfectly acceptable strategy.

Aug 24, 2016

@NBuhayar The original agreement expressly forbids shorting until April 2014, which is when the conversion option starts. So why not, right?

Aug 24, 2016

RT @DanaMattioli: Dow’s Buffett Ceiling: stock refuses to cross threshold that would end Berkshire payout @DaveCBenoit @PreetaTweets  http://on.wsj.com/2bOgciU 


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