22 November, 2011

Investment company Berkshire Hathaway has become the second largest shareholder of IBM

On Monday night the U.S. billionaire investor Warren Buffett, known not only for their wealth, but also a long-standing dislike for technology companies, announced that his company Berkshire Hathaway bought IBM stock for $ 10.7 billion

Warren Buffett has paid $ 10.7 billion for 5.4% of IBM stock, thus becoming the second largest shareholder after the investment firm State Street Global Advisors, which owns 5.5% of IBM. It became known from his interview with The Wall Street Journal.

Berkshire took up the acquisition of shares of IBM in March, and twice received the permission of the Securities and Markets (SEC) did not disclose the acquisition of stakes in IBM, moreover, that such disclosure is mandatory for all large investors.

SEC gives about 60 permits for confidentiality in the quarter, which allows investors to buy shares in a company without fear of significant growth in stock prices.
Where to put money Warren Buffett
In the third quarter of 2011, he invested in American businesses nearly $ 24 billion ..

According to experts, the acquisition of shares of IBM - double the record for the investment company of Warren Buffett. $ 10.7 billion - the largest sum he had ever been paid for a minority stake in a public company. In addition, Mr. Buffett is buying shares of IBM, it seems, says goodbye to its long-standing aversion to technology companies, which are often spoken, and openly. According to him, he knows nothing about technology companies, but because it is almost invariably related to investment insurance and financial services companies and industrial companies. In turn, Jeff Matthews, one of the investors Berkshire Hathaway, wrote a book about Warren Buffett, the billionaire explained dislike for technology companies that Mr. Buffett's views on this issue emerged half a century ago, when many technology companies have not yet been tested by time. According to Mr. Mathews, Warren Buffett's views began to change gradually under the influence of his friendship with Bill Gates, who is a member of the board of directors of Berkshire Hathaway.

The Wall Street Journal quoted Mr. Buffett, who said that interest in IBM had emerged after reviewing the company's annual report. He was amazed at how strong were the company's position in its sector. «IBM complies with all my principles ... these shares, we intend to hold indefinitely," - said Warren Buffett. At the same time, Mr. Buffett said that he was not bothered by the fact that he bought shares of IBM at the time when the securities of the company grew. "The important thing is not that important, the company will do in the future" - quoted investor The Wall Street Journal.

Experts say that with the acquisition of shares of IBM, Mr. Buffett has taken another step towards the stated goal - to make sure that the value of his company grew faster than the S & P 500. Currently, Berkshire Hathaway owns shares in 10 out of 30 companies that make up the index Dow Jones Industrial Average.

IBM shares closed at the Monday auction in New York was down 0.02%. Berkshire Hathaway shares closed down 1.3%.

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