Warren Buffett, business magnate, value investor (personal net worth 78.8 billion USD as of October 2017) and chairman, CEO of Berkshire Hathaway. Buffett’s nickname is the Oracle. He is considered by many to be an investor genius, a wizard and at age 87 he continues to do deals and talks to the media.
What’s Buffett’s latest purchase?
Buffett’s Berkshire Hathaway has agreed to purchase a stake in Pilot Travel Centers, the owners of the Pilot Flying J chain of truck stops.
“Pilot Flying J is built on a long-standing tradition of excellence and an unrivaled commitment to serving North America’s drivers,” Buffett said in a release.
“Jimmy Haslam and his team have created an industry leader and a key enabler of the nation’s economy. The company has a smart growth strategy in place and we look forward to a partnership that supports the trucking industry for years to come.”
The chain has 750 locations across the U.S. and Canada and boasts annual revenues of $20 billion.
Berkshire Hathaway will initially acquire a 38.6% stake in the company, slowly buying more shares in the following years.
“Pilot Flying J is built on a long-standing tradition of excellence and an unrivaled commitment to serving North America’s drivers”
Buffett has also recently invested in Duracell. His Berkshire Hathaway fund recently added newer holdings in Apple Inc, in the third quarter.
But the fund has lowered its stake in IBM 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, November 14.
However, Berkshire Hathaway missed the boat on investing in technology companies.
At Berkshire’s annual meeting in May, Buffett admitted that he “blew it” by failing to invest early in Google.
But what about the current age of quantitative easing and near zero rate interest rate policy which is testing the fiat monetary system to near breaking point.
Does Buffett believe that Cryptocurrency’s stellar rise in value is a vote of no confidence in the status quo?
Bitcoin is turning out to be a x10 bigger return on investment in 2017.
Buffett admitted that he “blew it” by failing to invest early in Google.
What is Buffett’s view on bitcoin?
Buffett doesn’t mince his words, “I am not interested at all,” and he added, “Bitcoin is a real bubble”. Bitcoin is “a very effective way of transmitting money, and you can do it anonymously and all that.”
He added: “A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money?”
But Buffett doesn’t have a computer on his desk, doesn’t use a cell phone and plays bridge 12 hours a week.
“I am not interested at all”… “Bitcoin is a real bubble” – Warren Buffett
So could the Oracle be missing the boat again?
The world of top investors is fluid, eventually, the Oracle will be replaced by a younger, more agile rival, after all, it is a jungle and there is always a big cat out there ready to outmaneuver, outsmart and take the throne.
Dan Loeb targets Sony. Dan Loeb is an activist investor and founder of Third Point, which oversees about $14.5 billion in assets.
Last year the activist investor viewed Campbell soup as a bargain when Third point reported that the soup maker could fetch a takeover value of $52 to $58 per share.
A year later and the activist investor Dan Loeb targets Sony
Dan Loeb's activist hedge fund Third Point is raising an investment vehicle to generate between $500 million and $1 billion so it can continue to buy Sony shares, according to a recent report in Reuters.