Here are some good quotes from the Berkshire meeting in Omaha that took place last weekend. Most of these were not reported in the mainstream media...

Connecticut Attorney General Richard Blumenthal is investigating a possible conflict of interest created by Berkshire's 19.5% stake in ratings agency Moody's, considering the importance of any ratings provided to Hathaway Assurance by Moody's. The probe is part of a general investigation into conflicts of interest in the credit ratings industry.

Candy maker Mars Inc. is buying Wm. Wrigley Jr. Co., the confectioner behind Juicy Fruit and Doublemint gum and Life Savers candy, for about $23 billion in cash, the companies announced Monday.

The agreement has the potential to transform the globe's confectionery industry and could spawn a series of other combinations.

I just read an interesting post by Jennifer Yousfi of MoneyMorning.com on how we can find a little protection in these turbulent markets, Conglomerates.

Todd Sullivan of Value Plays believe that Berkshire Hathaway is "fairly valued" at todays market price. The last time, Todd feels, that Berkshire represented "value" was exactly 8 years ago in March 2000 at the height of the dot.com bubble. Since then its share price has risen 256% even after the current drop.

According to Buffett

SA Editor Eli Hoffmann: Barron's takes a detailed look at recent moves of Berkshire Hathaway (BRK.A) master investor Warren Buffett. Key takeaways:

* While publicly tepid on the stock markets, Buffett bought a record $19 billion in equities in 2007, more than double the $9.2 billion he picked up in 2006. Berkshire's equity portfolio is now worth $75B, up from $61.5B in 2006 and $37B in 2004.

This is the second part to Todd Kenyon's article on Warren Buffett's Berkshire Hathaway, and his attempt at putting an intrinsic value on the behemoth company.

Right off the bat Buffett comments on the credit debacle:

Below is the first part of Todd Kenyon's notes on Warren Buffett's annual shareholder letter that was released last night.

"As always, Buffett reinforced many of his main tenants: good businesses have sustainable competitive advantages, generate attractive returns on capital, and are run by extraordinary managers, even if they don't have to be:

Although traders who are comfortable flipping stock and spreading options typically don’t look to Berkshire Hathaway for advice or for trading cues, an interesting idea showed up in Berkshire’s recently released 2007 annual report. On page 16, the chairman explains the two categories of derivative contracts that the company does hold.

Billionaire investor Warren Buffett launches a bond insurer targeting local governments...The new bond insurer, Hathaway Assurance Corp. is set to start operating on Friday in New York state, and guarantee the bonds that cities, counties and states use to finance public works...