Warren Buffett beefs up GM stake to 25 million shares

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Thread: Warren Buffett beefs up GM stake to 25 million shares

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    GMI Canada Editor Premium Member ne_one's Avatar
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    Warren Buffett beefs up GM stake to 25 million shares

    Warren 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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    6.2 Liter LS3 V8 Quixote88's Avatar
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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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    3.0 Liter SIDI V6 1.21 giggawatts's Avatar
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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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    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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    Firebird Concept (the turbine one) megeebee's Avatar
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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.

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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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    6.2 Liter LS3 V8 Premium Member jzchev28's Avatar
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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.

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    4.4 Liter Supercharged Northstar Tre-Tre's Avatar
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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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    Firebird Concept (the turbine one) AMERICA 123's Avatar
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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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    Re: Warren Buffett beefs up GM stake to 25 million shares

    Good time to buy

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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?

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    5.3 Liter Vortec V8 SigEpCutlass's Avatar
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    Re: Warren Buffett beefs up GM stake to 25 million shares

    Quote Originally Posted by 1.21 giggawatts View Post
    as long as its not that jerk Kirk Kerkorian.
    I second that. Kirk the jerk can shove it!
    - Mike K.

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