Buffett

Buffett said: "My secret to investing is to be greedy when others are panicked and panic when others are greedy." This is also true. Buffett made his first pot of gold in 1941 at the end of the global economic depression.

Warren Buffett's company has reported a nearly $13 billion loss in the third quarter as the paper value of its investments fell, but the companies it owns — particularly the insurers — generally performed well.

Berkshire Hathaway said it lost $12.8 billion in the quarter. That's significantly bigger than the $2.8 billion loss that it reported a year ago.

Profits rebounded at Warren Buffett's conglomerate along with the value of its $353 billion stock portfolio in the second quarter to hit $35.9 billion, and Berkshire Hathaway's assorted businesses also performed well, led by strong results in its core insurance businesses, particularly Geico.

An anonymous bidder has shelled out a record $19 million for a private lunch with billionaire Warren Buffet at a steakhouse in New York City.

The meal with the Berkshire Hathaway CEO was offered on an eBay auction to benefit the San-Francisco-based charity GLIDE, which helps homeless people and those in poverty. The winner can bring up to seven guests.