Warren Buffett’s Berkshire Hathaway Increases GM Stake To 25 Million Shares
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During the fourth quarter of 2012, investment deity Berkshire Hathaway raised its stake in General Motors from 15 million to 25 million shares, according to a Securities and Exchange Commission filing as reported by The Detroit Free Press.
This makes Berkshire Hathaway’s stake in The General worth a whopping $694 million, based on yesterday’s closing price of $27.75, making it one of GM’s largest shareholders with an ownership share of 2 percent.
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9 months ago he bought 10 million shares at $22. That is a 36% annualized gain if he sold at $28.
Darn good investment.
Two days ago he bought Heinz. The Ketchup people.
But Chevy’s come in more varieties!