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Why Buffett Does What He Does
Several headlines have noted Berkshire Hathaway shares are hitting five-year lows. Some think Warren Buffett, Berkshire’s billionaire CEO, has lost it.
Short seller Doug Kass, for example, says Buffett is guilty of style-drift, i.e., getting outside his "core competencies" as an investor.
Recently, Buffett has spent reams of Berkshire’s cash, and now he’s selling iconic favorites like U.S. Bancorp, Johnson & Johnson, Procter & Gamble, and ConocoPhillips to raise more cash… which he’s using to buy bonds of companies like Harley-Davidson and Tiffany’s.
That might look un-Buffett to you. And Doug Kass may have been right so far. But I don’t buy…
26Feb2009 | Stansberry and Associates | 0 comments | Continued
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