FacebookInstagramTwitterContact

 

Dawn Lecture           >>           3rd National Scientific Symposium           >>           3rd National Scientific Symposium           >>           China Pumps More Money Into Market           >>           Britain's Pro-Brexit Party UKIP Passes No Confidence Vote In Leader           >>           Canadian PM To Attend World Economic Forum Meeting           >>           British Engineers Find Way To Hold Large Objects In Mid-Air With Sound           >>           Hamburg Sack Head Coach Markus Gisdol           >>           Cristiano Ronaldo Uses Phone To Check Head Wound In Real's Win Vs. Deportivo           >>           Dawn Lecture           >>          

 

SHARE THIS ARTICLE




REACH US


GENERAL INQUIRY

admin@brudirect.com

 

ADVERTISING

marketing@brudirect.com

 

PRESS RELEASE

pr@brudirect.com

 

HOTLINE

+673 222-0178 [Office Hour]

+673 223-6740 [Fax]

 



Upcoming Events


The Incredibles 5Km Fun Run
January 7th, 2018 | 00:00 AM


KIDS PANCAKE MAKING & DECORATING CLASS
January 21st, 2018 | 14:00 PM


THE 1 NATION FREE WORKOUT
January 21st, 2018 | 17:00 PM


20th Consumer Fair
January 24th, 2018 | 00:00 AM


Mazalina Wedding Expo
January 26th, 2018 | 00:00 AM





Prayer Times


The prayer times for Brunei-Muara and Temburong districts. For Tutong add 1 minute and for Belait add 3 minutes.


Imsak

: 05:04AM

Subuh

: 05:14AM

Syuruk

: 06:35AM

Doha

: 06:59AM

Zohor

: 12:33PM

Asar

: 03:54PM

Maghrib

: 06:28PM

Isyak

: 07:41PM

 



The Business Directory


 

 



World Business


  Home > World Business


Buffett Adds More Apple, Reduces IBM Stake By Another Third


Photographer: David Paul Morris/Bloomberg

 


 November 15th, 2017  |  10:57 AM  |   898 views

WORLD

 

Warren Buffett continued to trim a once-major investment in International Business Machines Corp. while adding to newer holding Apple Inc. in the third quarter.

 

The investor’s Berkshire Hathaway Inc. lowered its IBM stake by about a third to 37 million shares as of Sept. 30, when it was valued at roughly $5.4 billion, according to a regulatory filing on Tuesday.

 

Buffett plowed more than $10 billion into IBM in 2011, making it one of his company’s largest investments. The move shocked many, because the billionaire had long steered clear of technology stocks. He defended the pick for years as Big Blue struggled with declining sales and a sagging share price.

 

Earlier this year, he did an about-face, saying his thesis was flawed and began to cut back the holding.

 

The episode highlighted just how badly Buffett, 87, missed the boat on investing in the technology companies that have come to dominate the ranks of the world’s most valuable enterprises. At Omaha, Nebraska-based Berkshire’s annual meeting in May, he issued a mea culpa, adding that he “blew it” by failing to invest early in Google.

 

At the same time, he showed he’s learning. One of Berkshire’s major new holdings is an investment in Apple. The stake was initiated by one of Buffett’s deputy investment managers last year. Buffett has since plowed in and joined hedge funds including Coatue Management in upping their holdings in the iPhone maker in the third quarter. Berkshire’s investment climbed by about 4 million shares in the period and was valued at roughly $21 billion.

 

One of Berkshire’s biggest new holdings in the filing was previously disclosed. In August, Buffett converted a preferred stake in Bank of America Corp. into common shares. The investment dates to 2011, when Berkshire injected $5 billion into the lender when its shares were slumping over concerns about payouts tied to the housing meltdown. The stake was worth more than $17 billion at the end of September.

 

Berkshire also:

 

Added to Monsanto Co. and Synchrony Financial;

Cut a stake in Charter Communications Inc. by about 10 percent;

Trimmed its stake in Wells Fargo & Co. after Buffett said earlier this year he wants to keep Berkshire’s ownership in the bank below 10 percent;

Exited Wabco Holdings Inc. after selling most of the stake in the second quarter.

 


 

Source:
courtesy of BLOOMBERG

by Noah Buhayar and Katherine Chiglinsky

 

If you have any stories or news that you would like to share with the global online community, please feel free to share it with us by contacting us directly at pr@brudirect.com

 

Related News


Salleh All Praise For UMS’ Community Homes CSR Programme

 2018-01-22 08:53:23

Kabul: Gunmen shot Intercontinental Hotel diners – eyewitness

 2018-01-22 09:06:24

Singapore Office Rents to Rise the Most in Asia

 2018-01-22 09:45:06