Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States, that oversees and manages a number of subsidiary companies. The company wholly owns GEICO, BNSF, Lubrizol, Dairy Queen, Fruit of the Loom, Helzberg Diamonds and NetJets, owns half of Heinz, owns an undisclosed percentage of Mars, Incorporated and has significant minority holdings in American Express, The Coca-Cola Company, Wells Fargo, and IBM. Berkshire Hathaway averaged an annual growth in book value of 19.7% to its shareholders for the last 48 years (compared to 9.4% from S&P 500 with dividends included for the same period), while employing large amounts of capital, and minimal debt. Berkshire Hathaway stock produced a total return of 76% from 2000–2010 versus a negative 11.3% return for the S&P 500.
The company is known for its control by investor Warren Buffett, who is the company's chairman, president and CEO. Buffett has used the "float" provided by Berkshire Hathaway's insurance operations (paid premiums which are not held in reserves for reported claims and may be invested) to finance his investments. In the early part of his career at Berkshire, he focused on long-term investments in publicly quoted stocks, but more recently he has turned to buying whole companies. Berkshire now owns a diverse range of businesses including confectionery, retail, railroad, home furnishings, encyclopedias, manufacturers of vacuum cleaners, jewelry sales; newspaper publishing; manufacture and distribution of uniforms; as well as several regional electric and gas utilities.
farming, forestry, and fishing: 0.7% manufacturing, extraction, transportation, and crafts: 20% managerial, professional, and technical]disambiguation needed[: 37% sales and office: 24% other services: 18% (2009)
Main data source: CIA World Fact Book
Financial economics is the branch of economics concerned with "the allocation and deployment of economic resources, both spatially and across time, in an uncertain environment". It is additionally characterised by its "concentration on monetary activities", in which "money of one type or another is likely to appear on both sides of a trade". The questions within financial economics are typically framed in terms of "time, uncertainty, options, and information".
A topic of general interest studied in recent years has been financial crises.
Industrial Archaeology (IA) is the systematic study of material evidence associated with the industrial past. This evidence, collectively referred to as industrial heritage, includes buildings, machinery, artifacts, sites, infrastructure, documents and other items associated with the production, manufacture, extraction, transport or construction of a product or range of products. The field of industrial archaeology incorporates a range of disciplines including archaeology, architecture, construction, engineering, historic preservation, museology, technology, urban planning and other specialties, in order to piece together the history of past industrial activities. The scientific interpretation of material evidence is often necessary, as the written record of many industrial techniques is often incomplete or nonexistent. Industrial archaeology includes both the examination of standing structures and sites that must be studied by an excavation.
The field of industrial archaeology developed during the 1950s in Great Britain, at a time when many historic industrial sites and artifacts were being lost throughout that country, including the notable case of Euston Arch in London. In the 1960s and 1970s, with the rise of national cultural heritage movements, industrial archaeology grew as a distinct form of archaeology, with a strong emphasis on preservation, first in Great Britain, and later in the United States and other parts of the world. During this period, the first organized national industrial heritage inventories were begun, including the Industrial Monuments Survey in England and the Historic American Engineering Record in the United States. Additionally, a number of regional and national IA organizations were established, including the North American-based Society for Industrial Archeology in 1971, and the British-based Association for Industrial Archaeology in 1973. That same year, the First International Conference on the Conservation of Industrial Monuments was held at Ironbridge in Shropshire. This conference led, in 1978, to the formal establishment of The International Committee for the Conservation of the Industrial Heritage (commonly known as "TICCIH") as a worldwide organization for the promotion of industrial heritage. The members of these and other IA groups are generally a diverse mix of professionals and amateurs who share a common interest in promoting the study, appreciation and preservation of industrial heritage resources.
A stock market or equity market is the aggregation of buyers and sellers (a loose network of economic transactions, not a physical facility or discrete entity) of stocks (shares); these are securities listed on a stock exchange as well as those only traded privately.
Stocks are partitioned in various ways. One common way is by the country where the company is domiciled. For example, Nestle, Roche, and Novartis are domiciled in Switzerland, so they are part of the Swiss stock market.
Charles Thomas Munger (born January 1, 1924) is an American business magnate, lawyer, investor, and philanthropist. He is Vice-Chairman of Berkshire Hathaway Corporation, the diversified investment corporation chaired by Warren Buffett; in that capacity, Buffett describes Munger as "my partner." Munger served as chairman of Wesco Financial Corporation from 1984 through 2011 (Wesco was approximately 80%-owned by Berkshire-Hathaway during that time). He is also the chairman of the Daily Journal Corporation, based in Los Angeles, California, and a director of Costco Wholesale Corporation. He served as inspiration for Rolf Dobelli's book, The Art of Thinking Clearly.
Warren Edward Buffett (//; born August 30, 1930) is an American business magnate, investor, and philanthropist. He is widely considered the most successful investor of the 20th century. Buffett is the chairman, CEO and largest shareholder of Berkshire Hathaway and consistently ranked among the world's wealthiest people. He was ranked as the world's wealthiest person in 2008 and as the third wealthiest person in 2011. In 2012, American magazine Time named Buffett one of the most influential people in the world.
Buffett is called the "Wizard of Omaha", "Oracle of Omaha", or the "Sage of Omaha" and is noted for his adherence to the value investing philosophy and for his personal frugality despite his immense wealth. Buffett is also a notable philanthropist, having pledged to give away 99 percent of his fortune to philanthropic causes, primarily via the Gates Foundation. On April 11, 2012, he was diagnosed with prostate cancer, for which he completed treatment in September 2012.
Finance is the practice]citation needed[ of funds management, or the allocation of assets and liabilities over time under conditions of certainty and uncertainty. A key point in finance is the time value of money, which states that a unit of currency today is worth more than the same unit of currency tomorrow. Finance aims to price assets based on their risk level, and expected rate of return. Finance can be broken into three different sub categories: public finance, corporate finance and personal finance.