Well-known Billionaire investor and Cadillac XTS-owner Warren Buffett is ready to buy in Detroit and remains bullish on the future of General Motors with CEO Mary Barra at the helm. His sense is GM and Detroit are on a positive path and he is pretty impressed with Mary.
Talking at a Detroit Homecoming event, the “Oracle of Omaha” was joined by Quicken Loans founder and fellow billionaire Dan Gilbert – a long-time friend of Buffett’s. During the event, Gilbert posed questions to Buffett about Detroit and the state of GM. As a 2 percent stake holder in GM, Buffett has a desire to see the company succeed.
“Mary is a real car guy,” Buffett said during the conversation, according to Crain’s Detroit Business. “I was enormously impressed with her.”
Where many investors are wary of investing into General Motors, Buffett’s Berkshire-Hathaway doubled-down in 2013, increasing stake from 10 million to 25 million shares of GM stock.
If you can spare an hour, the full conversation is just below:
Comments
The only Buffet I care about is Jimmy!
IMO this guy stirs up more trouble than he actually helps fix sometimes.
Warren markets himself very carefully and protects his image as he manipulated many things.
I do not begrudge him for his money as if he earned it legally more power to him.
He has fool many a person who has no clue on how markets work and transactions.
Just look at how he pools up to the president to stop the oil pipe line from Canada. And why would he stop it? Because he is worried about the environment? Not really it is because he owns the Santa Fe Burlington line that transports most of the oil. But he hides this part from his actions.
He also speaks out on companies like GM says great things with the market reacting and then sells stock days later. Legal yes ethical no. He did this earlier this year.
He is like a well smooth and clear on the surface but it hides a rocky bottom.