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About LinkBacksWarren Buffett beefs up GM stake to 25 million shares
Automotive News
February 15, 2013
by David Phillips
Warren Buffett's Berkshire Hathaway Inc. has acquired 10 million more shares of General Motors, lifting its holdings in the company to 25 million shares.
The latest investment -- disclosed in a Securities and Exchange Commission filing on Thursday -- comes as the U.S. government unloads a portion of its stake in the company.
GM shares fell 3.2 percent, or 92 cents, to $27.75 on Thursday in New York Stock Exchange trading following the release of the company's fourth-quarter and 2012 financial results. The shares rose 1 cent today to $27.76.
Berkshire's GM shares are worth about $694 million based on Thursday's closing price, making it among the automaker's biggest shareholders.
Buffett is well known as a value investor with patience and a long-term view of equity markets.
Full article at link.
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Results 1 to 12 of 12
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02-15-2013, 03:51 PM #1GMI Canada Editor
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Warren Buffett beefs up GM stake to 25 million shares
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02-15-2013, 04:02 PM #26.2 Liter LS3 V8
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Re: Warren Buffett beefs up GM stake to 25 million shares
Buffett on a little buying spree... First, it was Heinz yesterday, today it's GM... What other American icon could he buy into next? GE? McDonald's? Ford?
It's good to be the king...
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02-15-2013, 04:05 PM #32.4 Liter SIDI ECOTEC
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Re: Warren Buffett beefs up GM stake to 25 million shares
as long as its not that jerk Kirk Kerkorian.
strange things are afoot at the circle k.
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The Following 2 Users Say Thank You to 1.21 giggawatts For This Useful Post:
Darc Requiem (02-15-2013),DirtyMoney (02-15-2013)
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02-15-2013, 04:29 PM #43.0 Liter SIDI V6
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Re: Warren Buffett beefs up GM stake to 25 million shares
For Buffett this number of shares is miniscule but 'it's the proverbial toe in the water' and a vote of confidence in the Company.
it's a good sign and could lead to larger purchases.
He also has a way of keeping management and the Board of directors on their toes.
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02-15-2013, 04:33 PM #5Firebird Concept (the turbine one)
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Re: Warren Buffett beefs up GM stake to 25 million shares
Good to know, and not a bad sign. But I doubt Warren paid "Full Retail" for the shares.
Originally Posted by DenaliHD66
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02-16-2013, 11:37 AM #65.3 Liter Vortec V8
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Re: Warren Buffett beefs up GM stake to 25 million shares
I don't trust the senile old man. This is probably a favor to obama to inflate the shares prior to government selloff of GM shares, so government losses won't be so bad. Then he will get a sweetheart deal from our corrupt government (see facebook).
At least it will boost shares. Sell shares betwen buffet and government selloff and you will make a nice dime!
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02-16-2013, 12:45 PM #74.6 Liter Northstar V8
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Re: Warren Buffett beefs up GM stake to 25 million shares
Good for him, I think it's a smart bet. I wish I could afford 10 million shares, lol.
Future ride: 2014 Silverado
2000 Chevy Silverado Z71 4x4
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02-16-2013, 03:21 PM #84.4 Liter Supercharged Northstar
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Re: Warren Buffett beefs up GM stake to 25 million shares
I have to wonder what Buffett sees in GM, considering he could have bought any automaker. Judging by his track record, I wouldn't question the wise old gentleman.
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02-16-2013, 04:10 PM #9Firebird Concept (the turbine one)
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Re: Warren Buffett beefs up GM stake to 25 million shares
- this is helpful - surprised at how it slipped thru the cracks here - not.
http://media.gm.com/content/media/us...31-mullen.html"From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression — and they're about to do it again."
"The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money."
"If America is circling the drain, Goldman Sachs has found a way to be that drain — " Matt Taibbi
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02-16-2013, 04:19 PM #106.2 Liter LS9 Supercharged V8
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Re: Warren Buffett beefs up GM stake to 25 million shares
Good time to buy
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02-16-2013, 11:32 PM #11Firebird Concept (the turbine one)
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Re: Warren Buffett beefs up GM stake to 25 million shares
Apparently the assertions by GMI's barcalounger Chief Financial Officers that GM has one foot on a banana peel, and the other in bankruptcy court are perhaps a bit unfounded?
I want a car so violent that the mere thought of full throttle would cause a heart attack. That actually going wide open throttle in would result in nothing less than instant death!
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02-17-2013, 12:55 AM #123.6 Liter SIDI V6
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Re: Warren Buffett beefs up GM stake to 25 million shares
I second that. Kirk the jerk can shove it! Originally Posted by 1.21 giggawatts
- Mike K.
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Not buying an under-equipped Regal GS. What Zeta Sedan? Will Alpha save us?
No more Camaro...I'm a daddy!!!
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