Buffett is chairman and chief executive officer of Berkshire Hathaway. The publicly traded holding company operates a broad collection of businesses, including insurance (Geico), manufacturing (Clayton Homes), energy (MidAmerican Energy, Lubrizol) and service (NetJets). It also owns stakes in Coca-Cola, American Express, Procter & Gamble and Wells Fargo.
Hedge funds increased bets on lower gold prices after investors pulled a record $20.8 billion from bullion funds this year while BlackRock Inc., the world’s biggest money manager, said it’s still bullish.
Warren Buffett stole headlines when he committed $12.1 billion in a deal to take ketchup maker HJ Heinz Co. private this year. Managers at his Berkshire Hathaway Inc. spent as much in 2012 while attracting less attention.
Gold traders are divided on whether surging demand for jewelry and bullion coins will sustain the rally in prices as a slump in holdings through exchange-traded products extended to the longest in more than eight years.