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Investment pros praise Warren Buffett in Omaha

Monday, May 07, 2012 - 03:12

Four investment managers - all owners of Berkshire Hathaway stock - sound off on CEO Warren Buffett's succession plans, investing track record, and business acumen.

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It's often you see a lot of top tier portfolio managers -- that company's shareholder meeting but. Any company it's Berkshire Hathaway. When -- three. This company nature. And terms of instead of accumulating. It's part of this youth that could be home run for us. I don't all puppet for the way he's going about doing this I know a lot of dusters which was more clarity but -- I think he's going about it that's fine that's -- -- label is still running the company in ten years. If mr. Buffett -- -- -- for another 56 years circumstances could be that that person would be the number one so I think would be unfair. To put pressure on individual unnecessarily. But I'm pleased with the deliberations in terms of the board picking the top three in habits are they haven't done one. What he basically said when asked the question why are you buying so much IBM he said. Thought we think US large cap it it it is the best. Asset class out there right now so another words he's saying I feel comfortable again. Participating in public equity. And what that's a big change. I mean if you said to me you're leaving the country into the back in five years to me once thought I might have a hard time that if you put a gun in my -- I -- Berkshire. So we don't Berkshire. We're not strictly increasing the moment because we find things that are attractive values. But if the stock goes down. 10% of book book below buying stock. And I think you could get some positive surprise. It's so let's talk about the survivor. And its shares are cheap anymore within three or four percentage points of the -- so we're there. But he keeps reiterating. The opportunity for him to put billions -- war. Probably only occur in the markets to the big swing. So this pluses and minuses but then yeah right the thought of him behind act when he dealing with the stock which I would love. For him to do that it takes a unique circumstance. Which would be -- I don't need a dividend don't I don't think we -- dividend would certainly be nice be buying back shares specialist these kind of valuations and I think we can be buying back shares. You know at that these valuations a little bit higher so he's he's created a very low bar in the sense of where is gonna buy back stock at a 110% -- book value. And I know he'd still be adding to intrinsic got refine it a 120% of what I salute. It went by the policy of buying back some shares. I think a very big elephant for him to buy -- he's talked about you know you can international expansion I would look at the right price of course I would love to see -- by IKEA. -- I think that would fit in very nicely -- -- very long history. With them with furniture and it would move the needle just as early today in terms of underlings and empowered to. Our thesis is lower commodity prices. Stimulate the United States economy and housing comes back in if you wanna play housing coming back without my home builder stocks. Financials banks that own foreclosed homes and wonderful brick and mortar companies like in his -- -- private companies are great way to play that.

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Investment pros praise Warren Buffett in Omaha

Monday, May 07, 2012 - 03:12