Warren Buffett dumps shares of Moody's

The billionaire investor who rarely sells, has sold 2.7 million shares of Moody's Corp. (MCO), according to a filing this week with the Securities and Exchange Commission (SEC).

Warren Buffett's Berkshire Hathaway Inc. (BRKA, BRKB) sold the shares of Moody's Corp. (MCO), according to a filing Wednesday.

The credit scoring agency was once strongly backed by Buffett, in numerous comments over the years, has experienced all sorts of problems associated with the credit crunch and also due to poor internal controls. However, this seems to be a risk reduction move overall. Berkshire still owns 15% of Moody's outstanding stock after the recent sale, down from 20% in July.

It is "Next Time" for Tiger, Inc.

ARTICLE: Tiger Woods, Inc., A Failure in Corporate Governance

Richard Branson Takes Reservations From Would-Be Astronauts

Sir Richard Branson shows off the SpaceShipTwo in a Mojave, California, hangar on Monday.

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Discover Magazine

Bloomberg

Investor Michael Price is bullish on Bank of America

Dec. 4 (Bloomberg) -- Billionaire investor Michael Price said he bought shares of Bank of America Corp. in its $19.3 billion equity sale yesterday after shunning large lenders.

Bank of America raised money in the biggest U.S. offering of stock or preferred shares since at least 2000 to free itself from government restrictions after accepting funds from the Troubled Asset Relief Program. The Charlotte, North Carolina- based company, the largest U.S. bank, sold securities at $15 each, or 4.8 percent less than its closing price yesterday.

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Budapest cave-men become instant billionaires

There's rags to riches and then there's rags to mega-riches. Two brothers from Hungary definitely fall into the second category.

Until recently, Geza and Zslot Peladi lived in a cave near Budapest. Completely destitute, the two cave-brothers earned money by gathering scrap metal and selling candy they found on the street. That all changed the moment they heard that they stood to inherit a substantial portion of their maternal grandmother's $6.6 billion fortune. (That's billion, with a "B.")


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Back to the smartphone biz for Canadian billionaire Jim Balsillie

NHL commish takes dim view of Canadian billionaire Balsillie


NHL Commissioner Gary Bettman all but ruled out the prospect for Canadian billionaire Jim Balsillie one day owning a team in the hockey league.

Balsillie, the co-CEO of BlackBerry wireless device maker Research in Motion, failed in a bid to move the bankrupt Phoenix Coyotes to Hamilton, Ontario in September when a U.S. judge blocked the attempt.


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Mrs. Woods tries to tame a Tiger

Tiger Woods --- the first billion-dollar earning sportsman in the world (estimated by Forbes magazine).

In September of this year, he won the prized FedEx Cup. Besides winning golf tournaments, Tiger has incredible endorsement contracts with companies such as Gatorade, Gillette and Rolex. The most lucrative is with Nike.

Now, as the whole world knows, he is in a Tiger-sized mess. Mrs. Tiger Woods was allegedly trying to brain him with a golf club!

Tiger Woods is probably embarrassed that his wife beat the crap out of him. Police investigation, certainly. TMZ and entertainment shows, heck no!

BTW, by law, Florida law enforcement is required by law in FL to investigate the potential spousal abuse by either party. Could get more interesting.

See you on the course next year Tiger!