Berkshire Not Overpaying for Shares, Hagstrom Says
Dec. 13 (Bloomberg) -- Robert Hagstrom, chief investment strategist at Legg Mason Investment Counsel, talks about the decision by Warren Buffett's Berkshire Hathaway Inc. to raise the threshold at which it will buy back stock. Hagstrom, speaking with Betty Liu, Dominic Chu and Julie Hyman on Bloomberg Television's "In the Loop," also discusses market sentiment and U.S. fiscal talks. (Source: Bloomberg)
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The Crude Reality of BP's Sliding Profits
18:35 - BP Plc, the first oil major to report second-quarter results, said earnings fell 45 percent as lower crude prices continued to erode income and refining margins shrank. Profit adjusted for one-time items and inventory changes dropped to $720 million from $1.3 billion a year earlier, the company said Tuesday. That missed the $819 million average estimate of 13 analysts surveyed by Bloomberg. Downstream earnings, which include refining, declined 19 percent. Bloomberg's Ryan Chilcote reports and Source Head of Multi-Asset Research discusses with Bloomberg's Anna Edwards and Manus Cranny on "Countdown."