Here at MarketBeat we like nothing better than to point out when the sacred cows of the investment world turn out to be gobsmackingly incorrect. (If only, because it’s done so rarely.)

OMAHA, Neb.—Berkshire Hathaway Inc. says it had $3.81 billion in net income in the first quarter of this year, despite weaker earnings or losses for some of its insurance and reinsurance units.

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Fox Business Networks released this collection of interviews of people attending the Berkshire annual shareholders meeting. People interviewed included Buffett hisself, the three Buffett Children, author and commentator, and a number of CEO's of Berkshire subsidiary....

Full Story : http://www.gurufocus.com/news.php?id=91736

WASHINGTON—Democrats took a step toward their goal of overhauling financial regulation, reaching a tentative deal to set restrictions on trading in exotic financial instruments known as derivatives.

Among the considerations still in the balance: A big provision being sought by Warren Buffett in recent weeks. A key Senate committee had changed its proposed overhaul of derivatives regulation after lobbying by Mr. Buffett's Berkshire Hathaway Inc., potentially helping the famed investor avoid a financial hit, congressional aides say............

SAN FRANCISCO (MarketWatch) -- A rally of more than 20% in Berkshire Hathaway shares this year already prices in benefits from any economic recovery, so investors should wait for a more attractive entry point, Barclays Capital analyst Jay Gelb said Monday.

Gelb became one of the few sell-side analysts to cover Berkshire /quotes/comstock/13*!brk.a/quotes/nls/brk.a (BRK.A 121,100, +245.00, +0.20%) /quotes/comstock/13*!brk.b/quotes/nls/brk.b (BRK.B 80.89, +0.44, +0.55%) after initiating coverage of the insurance-focused conglomerate on Monday.