Warren Buffett can’t pass up a blue-chip bargain. The billionaire investor and CEO of Berkshire Hathaway (BRKA) has come to the rescue of another embattled U.S. firm, with Wednesday’s announcement that Berkshire will buy $3 billion worth of preferred stock in General Electric (GE).

The financial press is beating its "depression" drums just a bit harder this afternoon in the wake of Congress' surprise rejection of its bailout legislation and the market's strong drop. However, we remain skeptical that this behemoth bill would indeed be the market's short term salvation.

For some time now, weekends spell a period of trepidation for investors as the Pandora’s box is opened. Bizarre announcements of historical takeovers, bankruptcies and government interventions left investors grabbing for straws in a cesspool when trading resumed on Mondays.

Investing icon Warren Buffett took his own advice Tuesday - getting “greedy when others are fearful” - when he ignored the banking-sector bonfire and slapped down a cool $5 billion for a stake in Goldman Sachs Group Inc. (GS).

StockAdvisors comments on a few of Warren Buffett's holdings. At Zignals we chart them.

In recent months, amid the housing slump and credit crunch, US economic growth came to a standstill and many economists believe the world’s largest economy is heading for a recession.

This is an intriguing webcast, recorded on Tuesday during Warren Buffett's European sojourn, in which he shares his investment philosophy with MBA students of IMD Business School in Lausanne.

Buffett describes his approach to selecting investments, interspersed with frequent one-liners that underline his down-to-earth humor.

This webcast is long, but great viewing material.

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.

Adam of the WealthStore.com really has it out for Warren Buffett. Adam went as far as saying "The sooner the A-Hole of Omaha is toes up, the better off the worlds rich will be, and so will you."

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.

Everybody's looking for experts to teach them the wisdom of making money in the markets. There are "expert" chartists, fundamentalists, stock brokers, you name it.

A Come back? Coca-Cola didn't do much after its sky high valuation in the 90s bubble. A look at an interesting small-cap retailer and a funny video with the lovely Erin Burnett.