David Kass

Buffett’s Wealth and the Role of Luck

Berkshire Hathaway chairman and CEO Warren Buffett’s 86th birthday on Tuesday prompted a CNBC writer to explore Buffett’s interpretation of luck as a success factor in business. Buffett discussed the topic in a 2013 meeting with MBAs, including a group led by Smith School professor David Kass. He took notes in 2013 and summarized Buffett’s take for CNBC this week. Kass says Buffett has stressed the importance of luck in his life, focusing not only on where he was born but also when and what gender. Read more...

Audio: Assessing the Latest Drug Pricing Scandal

Executives at pharmaceutical company Mylan have come under attack for giving themselves raises while boosting the price of a lifesaving injection device by more than 400 percent over the past nine years. Smith School finance professor David Kass compares the situation to a 2015 scandal, when hedge fund manager and pharmaceutical CEO Martin Shkreli raised the price of the AIDS drug Daraprim from $13.50 a pill to $750. Audio (3:41)...

An Unexpected Buying Opportunity for Berkshire

What do you do if you lose $7 billion in one week following the Brexit vote? If you’re Warren Buffett and his portfolio managers at Berkshire Hathaway, you go shopping. “With over $60 billion of cash on Berkshire's balance sheet, it’s likely they invested some of these funds in individual stocks they had been following, which would have become more attractive after this sudden decline,” Smith School finance professor David Kass says. Read more...

Making Sense of Berkshire’s Bite of Apple

Berkshire Hathaway’s small but much-discussed bite of Apple suggests a vote of confidence for a tech giant that had been sliding in the stock market. It also hints at how Warren Buffett’s holding company will do business after the 85-year-old "Oracle of Omaha" no longer is there, Smith School professor David Kass says. Revealed Monday in a regulatory filing, the roughly $1 billion investment of 9.8 million shares represents about 1 percent of Berkshire’s $129 billion portfolio value. Read more...

Insights from Buffett's Analysis of 2008 Financial Crisis

Clinical professor of finance David Kass is a Berkshire Hathaway shareholder and a close follower of Warren Buffett’s investment strategy since 1980. He says the recent release of a 103-page "Financial Crisis Inquiry Commission Interview of Warren Buffett" provides "interesting insights into the causes of the financial crisis, its consequences on the shareholders of financial institutions, and on stock market valuation.” Read more...

Buffett’s Letter: Don’t Bet Against the U.S. Economy

Vexed politicians and Election 2016 voters might scoff. But investor Warren Buffett’s economic outlook, expressed in a letter and subsequent CNBC interview, is cautiously optimistic. Smith School finance professor David Kass, a close follower of Buffett’s investment strategy since 1980 and a Berkshire shareholder, says the view isn't unexpected. Read more...

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