Buffett Reports and Predicts On CNBC, Blackstone Preps Fund: Financial Business Review
Warren Buffett, appearing on CNBC, said that in some of Berkshire Hathaway’s (NYSE:BRKA)(NYSE:BRKB) housing-related operations, activity is increasing by double digits. Although few would question that Europe remains problematic and that Asia is slumping, the domestic economy is still a bright spot. Also, Buffett added to his investment in Wells Fargo & Co. (NYSE:WFC) in the past week.
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The Blackstone Group (NYSE:BX) is readying the intro of a multi-billion dollar fund to take investments in hedge fund managers. A source relates that stepping in as traditional buyers of hedge funds retreat from the private equity firm will target returns in excess of 20 percent.
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