1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
Dheeraj Grover
Dheeraj Grover
Articles (493) 

Berkshire Sells Some ResCap Debt

June 11, 2012 | About:
Warren Buffett's Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) sold more than a third of its Residential Capital bond holdings this week, shortly after calling for a probe into the mortgage lender's pre-bankruptcy transactions.

Ted Weschler, a Berkshire investment manager, said his company sold its holdings of more than $500 million of unsecured ResCap bonds on June 5 and 6, according to papers filed Thursday in U.S. Bankruptcy Court in Manhattan.

Weschler did not disclose sale prices. Berkshire had held the bonds for several years.

The sales followed Weschler's June 4 request for the court to appoint an independent examiner to investigate "potentially improper" transactions, in which ResCap moved large amounts of assets to its parent, Ally Financial Inc.

Continue reading here.

About the author:

Dheeraj Grover
I am an individual investor with deep interest in the field of value investing. My ideas and thinking is inspired by highly respected value investors like Ben Graham, Warren Buffett, Walter Schloss, Bill Ruane and Tweedy Browne

Rating: 2.9/5 (15 votes)

Comments

Please leave your comment:


GuruFocus has detected 3 Warning Signs with Berkshire Hathaway Inc $BRK.A.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.

Performances of the stocks mentioned by Dheeraj Grover


User Generated Screeners


GKATUSAGK customized USA
stewloewyP/FCF
jont017Low Ebitda/EV
jgmarisafricaBuffetology
pbarker46PB & PS
jjcarlin99Utilities - non-regulated
jjcarlin99MidStream Oil & Gas
pbarker46EV/EBITDA & P/Med PS
pbarker46High short
DANGORDONMARGIN OF SAFETY 4-23-17
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
FEEDBACK