Buffett’s Berkshire Boosts Stake in ConocoPhillips on Oil Bet

Warren Buffett’s Berkshire Hathaway Inc. became the largest shareholder in oil producer ConocoPhillips and took a stake in manufacturer Eaton Corp. in the third quarter as stock markets tumbled.

Berkshire had more than 83 million shares in Houston-based ConocoPhillips as of Sept. 30, compared with about 17.5 million on March 31, the company said yesterday in a regulatory filing. Buffett also disclosed a reduced holding in Bank of America Corp. and more shares of NRG Energy Inc., the second-biggest power producer in Texas. The Standard & Poor’s 500 Index dropped 8.9 percent in the three months ended Sept. 30.

Berkshire, which purchased MidAmerican Energy Holdings in 2000 and reported record profits last year from selling holdings of PetroChina Co., is betting on a long-term increase in energy demand worldwide. Global oil consumption will increase about 25 percent to 106 million barrels a day by 2030, the International Energy Agency said this week.

“Buffett is thinking decades ahead,” said Jeff Matthews, author of “Pilgrimage to Warren Buffett’s Omaha” and founder of hedge fund Ram Partners LP. “He’s thinking about oil production falling and an eventual doubling of worldwide demand as countries like China reach U.S. levels.”

ConocoPhillips traded as low as $67.31 a share in the third quarter after closing 2007 at $88.30. The company slipped $1.79, or 3.6 percent, to $47.39 in New York Stock Exchange composite trading yesterday before Berkshire’s disclosure.

Waiting for Spring

Buffett, the world’s preeminent stock picker, has said he’s also spending his own money to buy U.S. stocks as prices decline amid the worst financial crisis in 75 years. Buffett is Berkshire’s chief executive officer and makes most of the firm’s investing decisions.

Berkshire held about 59.7 million ConocoPhillips shares as of June 30, Buffett revealed in a separate filing. Buffett, 78, won permission from regulators to omit that number from his second- quarter filing and withhold it until yesterday to prevent copycat investing.

ConocoPhillips rose 86 cents, or 1.8 percent, to $48.25 at 7:59 p.m. in New York in extended trading. Bill Tanner, a spokesman for ConocoPhillips, had no immediate comment.

Berkshire increased holdings in NRG Energy by 54 percent to 5 million shares, a 2.2 percent stake. The firm was the object of a takeover offer from Exelon Corp. after the Princeton, New Jersey- based company lost half of its market value in two months. NRG’s board of directors this month rejected the offer.

Buffett also disclosed a 1.8 percent stake in Cleveland-based Eaton, the maker of parts for Boeing Co. planes and Volkswagen AG cars.

Eaton Corp.

“Eaton fits exactly with his investment strategy,” said Gerald Martin, a finance professor at American University’s Kogod School of Business in Washington. “He likes to say that he wants to invest in companies that he can understand, that he can really get his arms around, and take a look at them and project their cash flows.”

Eaton rose $1.44, or 3.5 percent, to $42.55 in extended trading. Prices for new Berkshire holdings typically jump as mutual funds and individual investors mimic the stock picks. Martin co-wrote a study in 2007 that found buying after such disclosures would have delivered annualized returns of about 25 percent over 31 years, double the performance of the S&P 500. Eaton spokesman Peter Parsons declined to comment.

Buffett cut his stake in Bank of America by almost half, while increasing his investment in U.S. Bancorp. Charlotte, North Carolina-based Bank of America, which purchased money-losing mortgage lender Countrywide Financial Corp. in July, has lost 64 percent of its market value in the last 12 months.

Changing Perceptions

“It’s pure speculation on my part, but it could be that the Countrywide acquisition changed his perception,” Martin said of Buffett.

Bank of America spokesman Scott Silvestri had no comment.

The U.S. Bancorp holdings rose 6.3 percent to 72.9 million shares from the second quarter. Berkshire is the Minneapolis-based bank’s largest shareholder. Buffett lowered the stake in Wells Fargo & Co., the largest bank on the U.S. West Coast, less than a percent to 246.4 million shares.

Buffett cut his stake in Home Depot Inc., the largest U.S. home-improvement store, by 12 percent to 3.7 million shares and trimmed holdings of No. 2 Lowe’s Cos. by 7 percent to 6.5 million. Holdings of CarMax Inc., the largest U.S. used-car dealer, fell 13 percent to 18.4 million.

Berkshire is also the largest shareholder of companies including Coca-Cola Co. and American Express Co. as of Sept. 30, with a portfolio worth $76 billion. Buffett discloses non-U.S. holdings in filings with regulators in those countries.

Buffett, named America’s richest man by Forbes magazine, built Berkshire from a failing textile manufacturer into a $155 billion holding company by investing premiums from insurance subsidiaries such as Geico Corp. in out-of-favor securities and buying businesses whose management he deemed superior.

Berkshire shares, which rose in 17 of the last 20 years, are down about 29 percent since Dec. 31.

Warren Buffett invest $3 Billion in G.E

Mr. Buffett, the billionaire investor, announced on Wednesday that he would invest $3 billion in General Electric, the industrial giant that is also the nation’s largest nonbank financial company.

He is betting when other investors remain fearful and on the sidelines. And his investments, analysts say, are based on the assumption that these two companies will come through the financial turmoil in good shape — helped by a government economic rescue package that will not only emerge but will bring confidence to shaky markets.

Mr. Buffett, the chief executive of Berkshire Hathaway, said in a statement, “G.E. is the symbol of American business to the world,” adding that he has known the company’s leaders for decades. “They have strong global brands and businesses with which I am quite familiar. I am confident that G.E. will continue to be successful in the years to come,” he said.

F1 in Singapore

7 days to go for the official F1 Grand Prix to be held first time in Singapore.

Singapore will be hosting the inaugural night race of Formula 1 on 28th September 2008.

Drivers Involve
1. Kimi Räikkönen
2. Felipe Massa
3. Nick Heidfeld
4. Robert Kubica
5. Fernando Alonso
6. Nelson Piquet Jr
7. Nico Rosberg
8. Kazuki Nakajima
9. David Coulthard
10. Mark Webber
11. Jarno Trulli
12. Timo Glock
13. Sebastian Vettel
14. Sebastien Bourdais
15. Jenson Button
16. Rubens Barrichello
17. Takuma Sato
18. Anthony Davidson
19. Giancarlo Fisichella
20. Adrian Sutil
21. Lewis Hamilton
22. Heikki Kovalainen

Do stay tune for more info.

Opening Ceremony Of Bejing 2008 Olympic

Finally after long waiting, the Olympic had officially started at Bejing 8:00 p.m. (1200GMT).

First of all is the arrival of the Chinese President and the President of the IOC.



In the last 10 seconds, the percussion rhythm of the "Fou Formation" is as intense as the roar of thunder. Chinese and Arabic numerals flash on the surfaces of the Fou successively, in tune with the rhythm ... 9, 8, 7, 6, 5, 4, 3, 2, 1.

Splendid fireworks burst from the Stadium's exterior trusses, making the entire Stadium like a blossoming flower.

The Journey of the Torch

With the start of the music, the first torchbearer enters from Gate 3 holding high the Olympic torch, and the relay (eight torchbearers in total) goes one full circuit around the Stadium. The last torchbearer will light the Cauldron.

The audience waves silk scarves with the torch cloud pattern to welcome the Olympic torch.

The Lighting of the Cauldron

Gymnast Li Ning lights the flame cauldron.

Eight flag bearers carry the flag into the Stadium horizontally and solemnly display the Chinese national flag. A child sings A Hymn to My Country.

Fifty-six children representing each of the 56 Chinese ethnic groups cluster around the Chinese national flag.

The flag guards raise the national flag of the People's Republic of China. A 224-member chorus sings the national anthem of the People's Republic of China.

Paid To Click (PTC)

They are advertising intermediaries as well, but in a different way as the surf bars do. All you have to do, after a simple signing up procedure, is to log in to the PTC site and click the ad links you find there. To qualify as having viewed the advertisement, you must have the page opened for a certain amount of time (30 seconds on avg.). When the time is up, you can close the window and you've got your money, then you can click the next link. The page with the ad is not needed to be kept up front, you can minimize it if you wish. The ad links can be clicked only one at a time. Until the time isn't up for this, you ought not click another link, it won't be paid. All the links on a PTC site can be clicked in about 5-10 minutes depending on how many links are on that site. One link after the other, that's the rule, remember? Here's another little trick: it's worth signing up to at least 5 PTC sites and with a tabbed browsing capable browser (Mozilla Firefox, Opera, IE 7), you ought to log in to all the 5 PTC sites at the same time, each of them opened on a different tab. I'm using Mozilla Firefox. I've bookmarked my PTC sites and organized them in a folder. When I click on that folder with the middle mouse button (the wheel) every bookmarked site opens automatically on a new tab. That is a very effective way to open more than one page. Then click the tabs one by one and click on one link for each of these sites. The countdown timer runs on each tab, thus you'll save a lot of time.

Pay attention! Always log in to your PTC sites you are registered to before you start clicking the ads. It is possible to view those ads without being logged in just like a regular visitor, but in that case you won't get your money. This is a common mistake between the newly signed up users. They don't login, they just click the ads, and they don't get nothing when the time is up. They get disappointed because they think it's a scam and they quit.

Never forget: you'll earn much more with referrals. Every PTC site offers a few possibilities to increase your earnings. They are optional but recommended. You can upgrade your Membership. Premium Membership comes with some extra benefits. It will give you access to increased rates for every click, to lower and faster payout, and to increased rates for every referral’s clicks and more great features. You can buy referral packs as well, so you don't have to trouble yourself with referring others.

You are not allowed to have more than one account. But if you have an access to another PC with a different IP address, you can create an account there, using your first account's referrer link, of course. This way you'll earn three times more: 1st the points made by your first account, 2nd the points made by your second account, 3rd the points gained in your first account due to your second account.

Recommended Paid To Click Websites:

Bux.to
07Bux.net
Bux3
AdsTab
EmailCashPro
DailyClicks
World-Bux
ClixSense
JustAdBux

If you have any questions you can always contact me.

How To Quit Smoking??

Smoking is dangerous to your health. Quitting will reduce your risk of dying from heart disease, blood vessel disease, lung problems, cancer and stroke.
Talk to your doctor about quitting. Ask about classes and support groups in your area. Get support and encouragement and learn how to deal with stress.
Talk with your doctor about medicines and other aids to help you quit.
Before you try to stop smoking, commit to stopping. Smoking is a learned
behavior that you must unlearn.
It is not easy to stop, but it can be done if you are serious about quitting. Stopping will help you live a healthier and longer life.

Getting Ready to Quit
Follow these tips to get ready to quit:
• Cut down the number of cigarettes you smoke each day.
─ Smoke only half a cigarette each time.
─ Smoke only during the even hours of the day.
• Clean out ashtrays and start putting them away one by one. Clean the drapes,
the car, your office, or anything else that smells of tobacco smoke.
• Get a friend or spouse to quit with you.
• Start exercising before you quit.
• Switch to a brand of cigarettes you do not like as much.
• Throw away spare lighters.
• Smoke alone if you like to smoke with people.
• Become aware of why you smoke each cigarette. Avoid the things that cause
you to smoke.
• Write down a list of the top 5 reasons you want to quit. Read this list daily.

Happy Indepedence Day

Independence Day celebrates the birthday of the United States of America. Founded July 4th 1776, with the signing of the Declaration of Independence, America is celebrating it's 232nd birthday this year (2008)

Story of Independence Day

Independence Day is the national holiday of the United States of America commemorating the signing of the Declaration of Independence by the Continental Congress on July 4, 1776, in Philadelphia, Pennsylvania.

At the time of the signing the US consisted of 13 colonies under the rule of England's King George III. There was growing unrest in the colonies concerning the taxes that had to be paid to England. This was commonly referred to as "Taxation without Representation" as the colonists did not have any representation in the English Parliament and had no say in what went on. As the unrest grew in the colonies, King George sent extra troops to help control any rebellion. In 1774 the 13 colonies sent delegates to Philadelphia Pennsylvania to form the First Continental Congress. The delegates were unhappy with England, but were not yet ready to declare war.

In April 1775 as the King's troops advanced on Concord Massachusetts Paul Revere would sound the alarm that "The British are coming, the British are coming" as he rode his horse through the late night streets.

The battle of Concord and its "shot heard round the world" would mark the unofficial beginning of the colonies war for Independence. The following May the colonies again sent delegates to the Second Continental Congress. For almost a year the congress tried to work out its differences with England, again without formally declaring war. By June 1776 their efforts had become hopeless and a committee was formed to compose a formal declaration of independence. Headed by Thomas Jefferson, the committee included John Adams, Benjamin Franklin, Robert R. Livingston and Roger Sherman. Thomas Jefferson was chosen to write the first draft which was presented to the congress on June 28. After various changes a vote was taken late in the afternoon of July 4th. Of the 13 colonies, 9 voted in favor of the Declaration, 2 - Pennsylvania and South Carolina voted No, Delaware undecided and New York abstained.

To make it official John Hancock, President of the Continental Congress, signed the Declaration of Independence. It is said that John Hancock signed his name "with a great flourish" so "King George can read that without spectacles!."

The following day copies of the Declaration were distributed. The first newspaper to print the Declaration was the Pennsylvania Evening Post on July 6, 1776. On July 8th the Declaration had its first public reading in Philadelphia's Independence Square. Twice that day the Declaration was read to cheering crowds and pealing church bells. Even the bell in Independence Hall was rung. The "Province Bell" would later be renamed "Liberty Bell" after its inscription -

Proclaim Liberty Throughout All the Land Unto All the Inhabitants Thereof

And although the signing of the Declaration was not completed until August, the 4th of July has been accepted as the official anniversary of United States independence. The first Independence Day celebration took place the following year - July 4 1777. By the early 1800s the traditions of parades, picnics, and fireworks were established as the way to celebrate America's birthday. And although fireworks have been banned in most places because of their danger, most towns and cities usually have big firework displays for all to see and enjoy.

Singapore Flyers

Singapore Flyer is the world's largest observation wheel, the iconic Singapore Flyer, illuminated the burgeoning Marina Bay. Standing at a stunning 165m from the ground. From the comfort of 28 spacious, air-conditioned Singapore Flyer capsules, visitors can witness history unfold before their very eyes as they admire 360-degree, breath-taking views of Singapore’s dynamic cityscape, and parts of Malaysia and Indonesia.

The Flyer offers you breathtaking, panoramic views of the Marina Bay, our island city and beyond. There's also a wide range of shops, restaurants, activities and facilities. Not only that it is the perfect venue for intimate and awe-inspiring events. No matter what the occasion, a private capsule offers you privacy, intimacy and awe-inspiring views.

Opening Hours
Daily Flights: 8.30am - 10.30pm
Ticket Sales: 8.00am - 10.00pm

Enjoy a 10% discount on Signature Cocktail Flight tickets from 1 Jan till 30 June 2008 if you book online using your UOB cards now!

Overall world indices for the week

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