David Kass Directory Page

David Kass

David Kass

Clinical Professor

PhD, Harvard University


Dr. David Kass has published articles in corporate finance, industrial organization, and health economics. He currently teaches Advanced Financial Management and Business Finance, and is the Faculty Champion for the Sophomore Finance Fellows. Prior to joining the faculty of the Smith School in 2004, he held senior positions with the Federal Government (Federal Trade Commission, General Accounting Office, Department of Defense, and the Bureau of Economic Analysis). Dr. Kass has recently appeared on Bloomberg TV, CNBC, PBS Nightly Business Report, Maryland Public Television, Business News Network TV (Canada), FOX TV, Bloomberg Radio, Wharton Business Radio, KCBS Radio, American Public Media's Marketplace Radio, and WYPR Radio (Baltimore), and has been quoted on numerous occasions by The Wall Street Journal, Bloomberg News, The New York Times and The Washington Post, where he has primarily discussed Warren Buffett, Berkshire Hathaway, the economy, and the stock market. He has also launched a Smith School “Warren Buffett” blog. Dr. Kass has accompanied MBA students on trips to Omaha for private meetings with Warren Buffett, and Finance Fellows to Berkshire Hathaway’s annual meetings. He was an officer of the Harvard Business School Club of Washington, DC, and is a member of the investment and budget committees of a local nonprofit organization. Dr. Kass received a Smith School "Top 15% Teaching Award" for 2009-2010, a "Distinguished Teaching Award (Top 10%)" for 2014-2015, and the prestigious "Krowe Teaching Award” for 2015 and 2019.

News

The Smith School Recognizes Its Outstanding Faculty and Staff at 2024 Assembly
The globally renowned Smith School excels in business research and offers a top-tier educational experience within a supportive community.…
Read News Story : The Smith School Recognizes Its Outstanding Faculty and Staff at 2024 Assembly
Bust or Boom? Webcast To Explore the Question

Is the stock market in bubble territory, ready to burst? Or are these boom times?

That will be the debate at the U.S. Equities…

Read News Story : Bust or Boom? Webcast To Explore the Question
2019 Summer Reading List

SMITH BRAIN TRUST – The University of Maryland’s Robert H. Smith School of Business proudly presents its 16th annual Summer…

Read News Story : 2019 Summer Reading List

Insights

Smith Experts React to Fed Recession Prediction

Read the article : Smith Experts React to Fed Recession Prediction
Musk’s Twitter Reversal: Smith Experts Weigh Financial, Operational Implications

Read the article : Musk’s Twitter Reversal: Smith Experts Weigh Financial, Operational Implications

Scripps News - The Stock Market, AI and Trump Media - April 2, 2024

CBS - The Outlook for Stocks in 2024 - January 3, 2024

Yahoo Finance - Charlie Munger's Legacy - November 29, 2023

CNBC - Question to Warren Buffett on the proposed Activision/Microsoft merger at the Berkshire Annual Meeting - May 6, 2023

Yahoo Finance - Interview on Bank Regulation - April 24, 2023

CNBC - Question to Charlie Munger on taxing stock buybacks at Daily Journal annual meeting - February 15, 2023 (at 1:00:40)

CGTN (China) - Southwest Airlines Weather Related Problems - January 26, 2023

CNBC - Question to Warren Buffett on taxing unrealized capital gains at the Berkshire annual meeting - April 30, 2022

Yahoo Finance - Question to Charlie Munger on Antitrust at Daily Journal Annual Meeting - February 16, 2022

Yahoo Finance - Question to Warren Buffett on Stock Buybacks at Berkshire Annual Meeting - May 2, 2020

Yahoo Finance - Interview on Carlos Ghosn - January 2, 2020

BNN TV (Business News Network - Canada) - Interview on Warren Buffett - February 26, 2018

Maryland Public Television ‘How Experienced Investors React to a Jittery Market' - December 17, 2015

CNBC Squawk Box Asia - "Who Will Succeed Warren Buffett?" - March 1, 2015

Maryland Public Television Interview on Investing Advice - September 18, 2014

Maryland Public Television Interview on Presidential Election - September 20, 2012

Fox TV Interview on Facebook IPO - August 21, 2012

Bloomberg TV Interview on Todd Combs - January 10, 2012

PBS Nightly Business Report TV Interview on Warren Buffett - November 14, 2011

Maryland Public Television Interview on Berkshire Hathaway - April 21, 2011

Bloomberg TV Interview on Warren Buffett - April 1, 2011

Bloomberg TV Interview on Warren Buffett - April 29, 2010

BNN TV Interview on Warren Buffett - March 1, 2010

NPR Marketplace  - Charlie Munger's Legacy - November 28, 2023

NPR Marketplace - JPMorgan Pauses Stock Buybacks" - July 14, 2022

WTOP Radio (Washington, DC) Interview on Inflation (at 7:10) - December 10, 2021

Busan, South Korea Radio Interview on General Electric Split-Up - November 18, 2021

Wharton Business Radio Interview on Issues at Kraft Heinz - March 6, 2019

NPR Marketplace- Discussed Equifax- September 8, 2017

Bloomberg Radio - Wells Fargo Fails "Living Will" Test - December 15, 2016

Wharton Business Radio Interview on the U.S. Election and the Stock Market - November 2, 2016

KCBS Radio Interview on Drug Prices - August 23, 2016

Bloomberg Radio - Berkshire Hathaway Annual Meeting Preview - April 29, 2016

National Public Radio (NPR - Marketplace) Interview on "Junk" Bonds - November 14, 2014

National Public Radio (NPR - Marketplace) Interview on Warren Buffett - October 2, 2014

National Public Radio (NPR - Marketplace) Interview on Warren Buffett - April 18, 2012

National Public Radio (NPR - Marketplace) Interview on Warren Buffett - February 27, 2012

National Public Radio (NPR - Marketplace) Interview on Warren Buffett - November 7, 2011

WYPR Radio Interview on Financial Reform - April 26, 2010

Bloomberg - Buffett's Berkshire Reveals $6.7 Billion Stake in Insurer Chubb - May 15, 2024

CNBC - First Berkshire Annual Meeting Without Charlie Munger: What to Expect From Warren Buffett - May 4, 2024

CNBC - Berkshire's Big Mystery Stock Wager Could Be Revealed Soon - May 4, 2024

Bloomberg - Biden Allies Want Warren Buffett's Support - and Omaha's One Electoral Vote - May 3, 2024

Barron's Letter to the Editor on Odd Lots and Berkshire's Stock Split - February 26, 2024

CNBC - Warren Buffett Keeps Berkshire's New Stock Secret - Again. Here's What It Means - February 18, 2024

Barron's Letter to the Editor on Spinoffs - October 30, 2023

CNBC - Warren Buffett, who turns 93, is at the top of his game as he pushes Berkshire Hathaway to new heights - August 30, 2023

Barron's Letter to the Editor on the Impact of a Weak Dollar on Equity Prices - July 22, 2023

Wall Street Journal - Warren Buffett's Formula for Success: One Good Decision Every Five Years - May 4, 2023

CNBC - Berkshire Hathaway is Outperforming During Turmoil, but Warren Buffett's Favorite Child Geico is in Trouble" - May 4, 2023

Wall Street Journal - Fed Rethinks Loophole That Masked Losses on SVB's Securities - April 21, 2023

Wall Street Journal - In Retrospect, Berkshire Hathaway Cut Its Position in Regional Banks at the  The Right Time - March 13, 2023

Wall Street Journal - Where Musk's Twitter Gambit Stands, Nearly Five Months In - March 8, 2023

Barron's Letter to the Editor on Interest Rates and Equities - February 27, 2023

CNBC - Warren Buffett's Must Read Annual Letter - February 24, 2023

Wall Street Journal - How Elon Musk's Twitter Faces Mountain of Debt, Falling Revenue and Surging Costs - November 21, 2022

Wall Street Journal - Berkshire Hathaway Bought $9 Billion in Stock in Third Quarter - November 14, 2022

Wall Street Journal - Warren Buffett Not Expected to Bid for Control of Occidental Following Approval of Bigger Stake - August 21, 2022

Wall Street Journal - Warren Buffett's Berkshire Hathaway Adds to Big Oil Bet - July 13, 2022

Wall Street Journal - Warren Buffett Spends Big as Stock Market Sells Off - May 16, 2022

Bloomberg - Buffett's Deal Drought Ends With $11.6 Billion Alleghany Buy - March 21, 2022

New York Times - McDonald's Ice Cream Woes - March 13, 2022

Bloomberg - Warren Buffett's Top Stock Last Year Was the Bank He's Been Bailing On - February 10, 2022

Barron's Letter to the Editor on Stock Buybacks at Graham Holdings - January 7, 2022

CNBC - For The Stock Market's Biggest Companies, There May Never Be A Better Time To Break Up - November 16, 2021

Bloomberg - GE's Breakup Spus Questions About Conglomerate Model's Future - November 9, 2021

Barron's Letter to the Editor on Interest Rates and Stock Market Valuation - July 26, 2021

Bloomberg - Warren Buffett Steps Away From Middleman Spot in Gates Divorce - June 23, 2021

Bloomberg - Buffett Says Greg Abel Is His Likely Successor at Berkshire - May 3, 2021

Financial Times - Kraft Heinz Bets on Old Brands to Win New Consumers - March 23, 2021

Barron's Letter to the Editor on Borrowing for Growth - January 29, 2021

Barron's Letter to the Editor on Taxing Capital Gains - October 16, 2020

Bloomberg - Buffett Inches Toward Wells Fargo Exit as Scharf Sets Course - October 16, 2020

Bloomberg - Berkshire Reduces Stakes in Banks and Buys Barrick Gold - August 14, 2020

Washington Post - Apple's 4-for-1 Stock Split - July 31, 2020

Washington Post - Investing in Fractional Shares - July 12, 2020

Bloomberg - Buffett's Berkshire Ends Deal Drought With Dominion Bet - July 5, 2020

Wall Street Journal Letter to the Editor on Federal Reserve Policy - July 1, 2020

Barron's Letter to the Editor on the Federal Reserve's Projections - June 19, 2020

Bloomberg - Warren Buffett Cuts His Crisis-Era Bet on Goldman - May 19, 2020

Bloomberg - Buffett's Virtual Meeting Turns Spotlight on Potential Successor - May 4, 2020

Bloomberg - Buffett and Occidental Petroleum - March 12, 2020

Barron's Letter to the Editor on Berkshire Hathaway - February 21, 2020

Bloomberg - Buffett Outbid by Private Equity in Berkshire's Big Deal Hunt - November 29, 2019

Bloomberg - Berkshire Takes on Short Sellers With Bet on Furniture Retailer - November 23, 2019

Washington Post - How to Survive in Volatile Markets - August 11, 2019

Wall Street Journal Letter to the Editor on the Gold Standard - July 18, 2019

Barron's Letter to the Editor on the Federal Reserve and Monetary Policy -April 19, 2019

New York Times - Kraft Tests How Much Costs Can Be Cut as Tastes Change - February 23, 2019

Bloomberg - Warren Buffett's Big Consumer Bets Bite Back - February 22, 2019

Washington Post - The Outlook For Tech Stocks - December 27, 2018

Washington Post - The Corporate Tax Cut and Stock Buybacks - December 16, 2018

Washington Post - Microsoft Replaces Apple as Most valuable Company - December 2, 2018

Washington Post - GE's Penny Dividend and 'Widow and Orphan' Stocks - November 4, 2018

Wall Street Journal - Berkshire Hathaway Invests in Fintech - October 30, 2018

Washington Post - What Would it Take to Fix GE? - October 7, 2018

Washington Post - Experts Say Stocks Won't Crash Over Impeachment -
September 6, 2018

Washington Post - Apple is The First Trillion Dollar Company in History -
August 2, 2018

Bloomberg News - "Berkshire Loans $2 Billion to Real Estate Firm Backed by Buffett" - July 31, 2018

Barron's Letter to the Editor on Berkshire Hathaway - June 23, 2018

Washington Post - 10-Year Treasury Note Approaches 3 Percent - April 24, 2018

Wall Street Journal - Warren Buffett is Giant Trader of U.S. Treasury Bills - February 23, 2018

Washington Post - Dow Jones Industrials Drop 1,000 Points - February 9, 2018

Washington Post - Jain and Abel Promoted at Berkshire Hathaway - January 18, 2018

Washington Post - Uber To Sell Auto-Lease Business - December 26, 2017

Washington Post - Uber Hires General Counsel - October 27, 2017

Washington Post - P&G Proxy Fight - October 10, 2017

Washington Post - Puerto Rico Bonds - October 10, 2017

Washington Post - Equifax CEO Resigns - September 26, 2017

Washington Post - Federal Reserve and Monetary Policy - September 19, 2017

Washington Post - Amazon Seeks Second Headquarters - September 7, 2017

CNBC - "Warren Buffett's Most Important Birthday Present" - August 30, 2017

Washington Post - Uber's New CEO Dara Khosrowshahi - August 28, 2017

Wall Street Journal - "Return On Warren Buffett's Attempt to Buy Oncor:
Zero" - August 25, 2017

USA TODAY - Jeff Immelt as Uber CEO - August 24, 2017

Washington Post - Can Jeff Immelt Turn Uber Around - August 21, 2017

Washington Post - Amazon Uses Debt To Buy Whole Foods - August 17, 2017

Bloomberg News - "Berkshire Reports Synchrony Stake While Exiting Former Parent GE" - August 14, 2017

Washington Post - The Stock Market and North Korea - August 11, 2017

Washington Post - GE's CEO Jeff Immelt Steps Down - June 12, 2017

Washington Post - Most and Least Respected Companies - June 5, 2017

Chicago Tribune - "Working at Kraft Heinz" - May 25, 2017

Bloomberg News - "Berkshire Cuts 21st Century Stake, Adjusts Airline Bets" - May 15, 2017

Washington Post - (U.S. Firms Hoard Cash) - May 2, 2017

Wall Street Journal - "3G, Berkshire Follow Familiar Playbook" - February 18, 2017

Washington Post - (Should Portfolios be Rebalanced?) - January 11, 2017

Washington Post - (Outlook for Stocks in 2017) - December 28, 2016

Wall Street Journal - "Dow Chemical to Redeem Preferred Stock Held by Buffett" - December 16, 2016

Bloomberg News - "Berkshire Bets on Airlines With Stakes in American, Delta" - November 14, 2016

CNBC -"A Birthday Message from Warren Buffett on Being Lucky" - August 30, 2016

Bloomberg News - "Berkshire Built Apple Stake as Stock Slipped in Second Quarter" - August 15, 2016

Washington Post - (Discussed Brexit and the Stock Market) - July 5, 2016

Washington Post - (Discussed Carlyle Group) - June 5, 2016

Wall Street Journal – ‘Warren Buffett’s Heirs Bet on Apple'- May 16, 2016

Washington Post - (Discussed Berkshire's Investment in Apple) - May 16, 2016

Bloomberg News - 'Morgan Stanley's Gorman Extends Tenure as Kelleher Moves Up' - January 6, 2016

Washington Post - (Discussed Carlyle Group) - January 3, 2016

Bloomberg News – 'Warren Buffett's Berkshire Reduces Stake in Goldman Sachs by 13%' – Nov. 16, 2015

Bloomberg News –‘Cryan Putting Stamp on Deutsche Bank’ – Oct. 18, 2015

Bloomberg News – ‘Deutsche Bank Eyes Zero Dividend as Cryan Prepares Overhaul' - Oct. 7, 2015

Bloomberg News – ‘Berkshire Profit Falls, Missing Estimates on Insurance Slump' - Aug. 7, 2015

Wall Street Journal (Berkshire After Buffett) - May 1, 2015

Wall Street Journal (Annotating Buffett's Annual Letter) - March 1, 2015

Wall Street Journal (Berkshire's Labor Problems at NetJets) - January 6, 2015

Wall Street Journal (Buffett Buys Auto Dealerships) - October 3, 2014 | Article 2

Wall Street Journal (Berkshire's Retail Investments) - July 17, 2014

Bloomberg (Businessweek) Interviews 2009-2015

Wall Street Journal (Berkshire's Goldman Sachs Warrants) - March 27, 2013 | Article 23

University of Maryland Diamondback (Mitt Romney) - September 7, 2012

Wall Street Journal (Warren Buffett) - August 21, 2012

Wall Street Journal (Berkshire Hathaway Shareholders Reaction) - February 25, 2012

American Banker (Interview on Berkshire Hathaway and Community Banks) - June 12, 2012

American Banker (Interview on Bank of America Warrants) - February 27, 2012

Los Angeles Times (Reuters Interview) - September 13, 2011

"Berkshire Hathaway's Acquisition of Precision Castparts", Journal of Financial Education, Volume 45, No. 2, (forthcoming) Winter 2019, pp. 335-366 (with Susan White and Ryan Guttridge)

10 Stocks For 2024 (December 18, 2023)

Berkshire Hathaway is Undervalued by 6% (August 8, 2023)

2023 Berkshire Hathaway Annual Meeting: Summary of the 48 Questions and Answers (July 9, 2023)

10 Stocks for 2023 (December 23, 2022)

14 Stocks For Midyear 2022 (June 21, 2022)

12 Stocks For 2022 (December 22, 2021)

Berkshire Hathaway Is Undervalued By 17% (August 16, 2021)

16 Stocks for 2021 (December 15, 2020)

SPACs - Why Investors Should Be Cautious (October 23, 2020)

Berkshire Hathaway is Undervalued by 20% (August 23, 2020)

10 Stocks For Midyear 2020 (July 22, 2020)

Why is Warren Buffett More Concerned About Pandemics Than Wars or Financial Crises? (May 11, 2020)

Is Todd Combs a Possible Successor to Warren Buffett as CEO of Berkshire Hathaway? (December 26, 2019)

Berkshire Hathaway at All-Time High with $128 Billion in Cash (December 18, 2019)

10 Stocks for 2020 (December 17, 2019)

Top Stocks for Midyear 2019 (June 19, 2019)

The Risks and Rewards of Investing in IPO's (April 6, 2019)

Why U.S. Equities Are Likely To Continue Rising To New Highs (June 11, 2018)

Top 5 Stocks for 2018 (January 4, 2018)

The Value Investing Approaches of Warren Buffett, Charlie Munger, Todd Combs, and Ted Weschler at Berkshire Hathaway (November 12, 2017)

Why The Dow Jones Industrial Average Is Not Overvalued At 22,000 (August 3. 2017)

Major Changes To Berkshire Hathaway's Portfolio During First Quarter Of 2016 (June 1, 2016)

Berkshire Hathaway is Undervalued on a Price/Book Value Basis (Updated) (September 7, 2015)

The Stellar Kraft Heinz Board of Directors (July 13, 2015)

How Berkshire Hathaway's Todd Combs and Ted Weschler Performed Relative To The S&P 500 In 2014" (January 6, 2015)

How Todd Combs And Ted Weschler Outperformed The S&P 500 And Warren Buffett In 2013 (January 24, 2014)

The Presidential Election 2012: The Economy And The Stock Market (September 4, 2012)

Why Warren Buffett Keeps Adding To His Wells Fargo Investment (July 3, 2012)

Berkshire Hathaway's $5 Billion Investment in Goldman Sachs in 2008 Has Resulted in a 50% Return (February 1, 2012)

Bank of America Warrants Add Considerable Value to Berkshire Hathaway (January 12, 2012)

The Presidential Cycle Should Result In Higher Stock Prices By Year End 2011 (October 18, 2011)

How GEICO Is Delivering Shareholder Value To Berkshire Hathaway (October 7, 2011)

A Look At How Berkshire Hathaway's Todd Combs Is Outperforming The S&P 500 (September 5, 2011)

Key Lessons From Warren Buffett's March 11, 2011 Meeting With MBA Students (March 20, 2011)

Berkshire Hathaway is Undervalued on a Price/Book Value Basis (February 27, 2011)

Berkshire's Washington Post Stake: A Testament to Both Stocks' Value (January 24, 2011)

Berkshire Hathaway Annual Meeting - May 6, 2023

Berkshire Hathaway Annual Meeting - April 30, 2022

Berkshire Hathaway Annual Meeting - May 1, 2021

Berkshire Hathaway Annual Meeting - May 2, 2020

Berkshire Hathaway Annual Meeting - May 4, 2019

Berkshire Hathaway Annual Meeting - May 5, 2018

Berkshire Hathaway Annual Meeting - May 6, 2017

University of Maryland MBA/MS Student Meeting With Warren Buffett - November 18, 2016

MBA/MS Student Trip to See Warren Buffett, November 18, 2016
MBA/MS Student Trip to See Warren Buffett, November 18, 2016

Berkshire Hathaway Annual Meeting - April 30, 2016

Berkshire Hathaway Annual Meeting - May 2, 2015

Berkshire Hathaway Annual Meeting - May 3, 2014

University of Maryland MBA/MS Student Meeting with Warren Buffett - November 15, 2013

MBA/MS Student Trip to See Warren Buffett, November, 2013
MBA/MS Student Trip to See Warren Buffett, November, 2013

Berkshire Hathaway Annual Meeting - May 4, 2013

Berkshire Hathaway Annual Meeting - May 5, 2012

Berkshire Hathaway Annual Meeting - April 30, 2011

University of Maryland MBA Student Meeting with Warren Buffett - March 11, 2011

Dr. David Kass with Warren Buffett, March 11, 2011
Dr. David Kass with Warren Buffett, March 11, 2011
MBA Student Trip to See Warren Buffett, March, 2011
MBA Student Trip to See Warren Buffett, March, 2011

Berkshire Hathaway Annual Meeting - May 1, 2010

Berkshire Hathaway Annual Meeting - May 2, 2009

Berkshire Hathaway Annual Meeting - May 3, 2008

Berkshire Hathaway Annual Meeting - May 5 2007

Berkshire Hathaway Annual Meeting - May 6, 2006

Warren Buffett Meeting - University of Maryland - May 23, 2005

Warren Buffett (center) with University of Maryland students and David Kass (right) - May 23, 2005.
Warren Buffett (center) with University of Maryland students
and David Kass (right) - May 23, 2005.

GEICO Meeting - Tony Nicely - May 16, 2005

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