Probably one of the greatest investors of our time, possibly even all time, Warren Buffet, held his annual meeting for shareholders in Omaha, Nebraska this past weekend for the holding company he runs Berkshire Hathaway. A reported 25,000 people made the journey to listen to the oracle speak.
To get things off to an early start on Friday May 5th, Warren Buffet announced that he was using some of the extra cash of Berkshire to buy $5 Billion worth of an Israeli based metal cutting tools company. That purchase would represent an 80% stake in the company for Berkshire. This is a big jump into the international market for buffet, one that makes him now the biggest foreign investor in Israel with this single purchase.
Next on Saturday Buffet spoke on real estate and the “bubble market” that some feel has begun to explode. What Buffet and Munger basically stated was there is a lot of credit being offered and awarded to people that shouldn’t be going into much debt.
They both expected a cooling effect to occur soon and pull the ever-expanding market back down to earth.
Some other interesting articles regarding Buffet and the Berkshire Empire can be found at:
Buffet’s Extra Cash
Heading to Omaha
Inside the Meeting
