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Buffett's star shines brightest among world's financial gurus, poll shows

The housing bubble and subsequent "Great Recession" have tarnished the stars of a good many of the world's financial wizards, such as the former heads at Lehman Bros. and Merrill Lynch. But one respected image remains -- perhaps unsurprisingly -- on top: Warren Buffett, chairman and CEO at Berkshire Hathaway Inc. (NYSE: BRK.A).

That's according to a recent quarterly poll of investors, traders, and analysts who subscribe to Bloomberg terminals, those somewhat cryptic news and data computers that are ubiquitous on Wall Street. Buffett, who received favorable nods from 25% of those participating in the poll, walked away with a plurality of the vote, Bloomberg News reported.

Continue reading Buffett's star shines brightest among world's financial gurus, poll shows

Housing starts and producer prices are down in July

Two key reports, one on housing and the other on producer prices give us more numbers to ponder.

First to the housing market:

  • The Commerce Department reported that housing starts fell 1% last month to 581,000 units.
  • Ground breaking for single family homes rose 1.7% to 490,000 units annually.
  • Construction of multi family units fell 13.3%
  • Confidence among home builders rose in August.
  • Permits for new building fell 1.8% to 560,000 units, down 39.4% from a year ago.
  • The inventory of total houses under construction fell to a record low of 609,000 while permits for new construction also hit a record low of 102,000 units.
  • Compared to last year housing starts fell 37.7%

Now let's look at producer prices.

Continue reading Housing starts and producer prices are down in July

Symbol Lookup
IndexesChangePrice
DJIA-74.9212,454.83
NASDAQ-1.852,837.53
S&P 500-2.861,317.82

Last updated: May 28, 2012: 11:34 PM

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