Tuesday, June 5, 2012

CNBC: "Warren Buffett's Stock Buying Secret Revealed"

From CNBC's Warren Buffett Watch:
The secret is out.
Warren Buffett's Berkshire Hathaway held over 1.6 million shares of Lee Enterprises, about 3.2 percent of its outstanding shares, as of March 31, according to a filing with the SEC late today.  On that date the stake was worth $2.1 million.  The total market value of the company is around $60 million.

The stock is soaring in after-hours trading, up $0.29 to $1.44 as of 4:40p ET.  That's an increase of more than 25 percent.

The Lee stake is tiny by Berkshire standards, but its particularly interesting because Buffett's company had wanted to keep it secret....MORE