Tuesday, 17 Feb 2009
Has Warren Buffett Been "Buying American" for Berkshire Hathaway? We Find Out Today
Posted By: Alex Crippen
Topics:Investment Strategy Stock Market Warren Buffett
Companies:Conocophillips Tiffany and Co Harley Davidson Inc Goldman Sachs Group Inc General Electric Berkshire Hathaway Inc.
Exactly four months ago today, on October 17, Warren Buffett wrote an op-ed piece for the New York Times with one of his rare, specific market calls for investors: "Buy American. I Am."
He explained how falling stock prices had prompted him to pick up U.S. stocks at bargain prices .. for his personal account.
At that time he said, "If prices keep looking attractive, my non-Berkshire net worth will soon be 100 percent in United States equities."
If anything, prices became even more attractive after Buffett's op-ed. The S&P closed at 940.55 on October 17. Just over one month later, on November 20, it had fallen another 20 percent to its current bear-market closing low of 752.44.