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General Motors Company Message Board

  • jeyebolt2003 jeyebolt2003 Nov 14, 2012 9:24 PM Flag

    Warren Buffett buy GM

    8:16 PM Warren Buffett's Berkshire Hathaway discloses several changes to its portfolio, including a stake in Deere & Co. (DE) and selling off 5.3M shares of CVS Caremark (CVS). Firm also added to its existing investments in: Wells Fargo (WFC), Bank of New York Mellon Corp. (BK), General Motors (GM), DirecTV (DTV), DaVita (DVA), National Oilwell Varco (NOV) and Viacom (VIAB). It reduced stakes in: Johnson

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    • Two big investors said Wednesday they had added to their investments in General Motors Co.

      Billionaire investor Warren Buffet's investment arm, Berkshire Hathaway Inc., acquired another 5 million shares in GM raising his stake in the company to 15 million shares in the quarter ending Sept. 30.

      And David Einhorn, who runs Greenlight Capital hedge fund, boosted his stake in GM to 21.6 million shares from 17.4 million as of June 30.

      On Wednesday, GM stock closed down 2.6 percent, or $0.65 a share, to $24.17 before the purchases were disclosed in government documents. After the filings to the Securities and Exchange Commission, GM stock rose in after hours trading to $24.64, up $0.47, or 2 percent.

      GM Chairman and CEO Dan Akerson in May described Buffett as a "wise investor" with a "track record to prove it."

      Berkshire Hathaway becomes one of the 15th-largest investors in GM.

36.10-1.310(-3.50%)12:41 PMEDT

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