Monday, May 17, 2010

Stock | Buffett's Berkshire trims GCI another 21%

That's according to business channel CNBC, which reports today that industrialist Warren Buffett's Berkshire Hathaway sold 461,969 Gannett shares during the first quarter, reducing its stake 21%. During the fourth quarter, Berkshire had cut its holdings by 1,245,400 shares, or 36%.

Buffett (above) is CEO of the Omaha, Neb.-based conglomerate. His moves are watched closely because of Berkshire's long track record of success.
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2 comments:

  1. Anonymous5/17/2010 9:39 PM

    Anyone know if BH dumped any Washington Post stock?

    ReplyDelete
  2. Anonymous5/17/2010 9:56 PM

    WSJ story says he sold a bunch of stock to pay for the $27B Burlington Northern buy, his biggest purchase ever:
    http://online.wsj.com/article/SB10001424052748703315404575251101681953926.html?ru=yahoo&mod=yahoo_hs

    So, this may not be such a Debbie Downer for GCI.
    In fact, I wonder if he didn't have some from years back in the low teens, and once GCI was in the $16-$19 range, he punted with a 15-30% long-term profit on that portion. That would be fiscally prudent, IMHO.

    ReplyDelete

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