Warren Buffett, the billionaire investor who oversees stakes in some of the largest U.S. banks, said the nation’s lenders have rebuilt capital to the point where they no longer pose a threat to the economy. “The banks will not get this country in trouble, I guarantee it,” Buffett, chairman and chief executive officer of Omaha, Nebraska-based Berkshire Hathaway, said in a phone interview last week. “The capital ratios are huge, the excesses on the asset side have been largely cleared out.” [...] Buffett’s firm has investments in at least four of the seven biggest U.S. lenders by assets, including a stake of more than $14 billion in San Francisco-based Wells Fargo, $5 billion in Bank of America and warrants that allow it to buy $5 billion of Goldman Sachs Group Inc. shares. Berkshire also has a holding in U.S. Bancorp. “Our banking system is in the best shape in recent memory,” Buffett said. [Bloomberg]
Warren Buffett Making Moves To Rename Wells Fargo "Uncle Warren's WFC"
It has a certain ring to it, no?
"Warren Buffett’s bodyguard punched me in the head, and it hurt"
Thinking about getting pawsy with Warren Buffett? Here's a delightful first-person account of what might be in store for you. The bodyguard, Dan Clark, didn’t mean for it to hurt, he was just demonstrating a fighting move called the brachial stun. That’s a strike to the side of the neck using a chopping motion with the hands — but when Clark hit me with it in a slow speed demonstration, the sudden burst of force whipped my whole head to the right, crashing my teeth together so hard that I thought I would lose a filling. That’s what Dan Clark is like — even his demonstrations are intense. He’s the kind of guy who throws around phrases like the “muay Thai clench with a double knee strike,” and who, when he emails you to invite you to his training session, reminds you politely to bring a cup. All of it — the gym, the training, and especially the punch — combine to send a clear message: Don’t mess with Buffett, or any of Clark’s other clients. And that’s kind of the point. Billionaire Security: Behind the Scenes with Warren Buffett’s Bodyguard [CNBC]