4 ms·

Doesn't Warren own more parts in other banks? So is he like controlling banks?

• jacquesm 11y ago
  Control is a magic word and requires certain minimum percentages of shares to be held.
  • jsudhams 11y ago
    Yes but then there is that percentage 8 to 10% he owns in large banks which means he will have say in what banks do atleast unofficially.
• jambo 11y ago
  Berkshire, which Buffett manages and effectively controls, owns insurance companies and a mortgage lender outright. Berkshire also has stakes in publicly traded banks including US Bank, Wells Fargo, and American Express (they converted into a deposit-taking bank company in the wake of the financial crisis). Then there's Bank of America, in which Berkshire has warrants to buy a stake < 10%, but they likely won't be exercised until they're about to expire. Beyond this, managers and policy makers listen when Buffett talks/writes; an outcome of his 50-year track record in investing and managing at Berkshire. I personally don't think there's anything sinister going on. You can get a really good overview of Berkshire as a company, including its operating companies, investment philosophy, and current investment holdings from the annual letters that Buffett writes: http://berkshirehathaway.com/letters/letters.html http://berkshirehathaway.com/letters/letters.html If you want to see exactly what securities Berkshire owns, you can look up the 13F filings on http://edgar.sec.gov http://edgar.sec.gov