Canadian lenders including Royal Bank of Canada and Toronto-Dominion Bank decided more than a year ago to target business loans and wealth management because record consumer lending was bound to dry up.
Warren Buffett’s bet on Bank of America Corp. and a more-generous buyback plan helped his Berkshire Hathaway Inc. beat the Standard & Poor’s 500 Index in a year when he didn’t make a major acquisition.
Berkshire Hathaway Inc. is poised to report its biggest year-over-year increase in book value per share since 2010 on gains from investments, operating-business earnings and Chairman Warren Buffett’s equity-derivative bets.
Warren Buffett, the former hedge fund manager who built Berkshire Hathaway Inc. into a $195 billion company by gaining leverage through insurance premiums, said this traditional source of new funds is drying up.
Warren Buffett’s Berkshire Hathaway Inc. acquired its largest stake in General Motors Co. before the automaker slumped 16 percent, as the billionaire chairman hands more responsibility to deputy stock pickers.
Berkshire Hathaway Inc.’s first- quarter profit doubled as insurance units and derivative bets posted better results, the company said yesterday as it prepares for Chairman Warren Buffett’s annual meeting.