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No Winners for Contest; Berkshire Hathaway Buys NRG Energy Inc., IngersollRand and SanofiAventis

August 24, 2008 | About:
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As usual, GuruFocus hosted quarterly contest asking users to best guess what stocks Warren Buffett bought during the second quarter. To our disappointment, no participates have correctly guess at least two stocks Warren Buffett bought.

As we reported on August 14, Berkshire Hathaway Buys NRG Energy Inc., Adds to IngersollRand Company Ltd. and SanofiAventis, sells AnheuserBusch Companies Inc, Warren Buffett may also bought ConocoPhillips (COP), but he kept the information confidential.

The purchases of NRG Energy Inc (NRG) is beyond anyone’s guess. NRG Energy Inc owns and operates a diverse portfolio of power-generating facilities primarily in the United States. Its operations include baseload intermediate peaking and cogeneration facilities thermal energy production and energy resource recovery facilities. It has a market cap of $9 billion.

Berkshire added to its holdings in Ingersoll Rand Company (IR) by about 500%, IR which is one of the leading providers of security and safety climate control industrial productivity and infrastructure products. It has a market cap of $10.4 billion.

Berkshire also added slightly to its position of pharma giant SanofiAventis (SNY). It has a market cap of $90 billion.

All these three positions have small weightings in Buffett’s total portfolio. Some may argue that these are Lou Simpson’s picks instead. If Warren Buffett has done anything, it must be with ConocoPhillips (COP), which we believe very likely. We will have another article on this.

Interestingly, most of our contest participants think Warren Buffett took the advantages of financial section meltdown, and bought stocks in his favorite Wells Fargo (WFC), or American Express (AXP) etc. Our users are not wrong, they are just a little too early. Last Week Warren Buffett just said he bought one of them.

None of the contest participants guessed at least two stocks correctly. Therefore there is no winner for the second quarter contest. We will save the two books for this contest to the next. At least now we have some clues. Good luck everyone.


Rating: 3.7/5 (9 votes)

Comments

alex24_malaga
Alex24_malaga - 5 years ago
BRK and WEB bought WFC during this quarter acoording to today's CNBC interview:

http://www.cnbc.com/id/27011627

"He also revealed that he owns only two domestic stocks in his own personal account, Berkshire and Wells. After the live interview, he laughingly told Becky that no one had ever gotten that particular nugget out of him before.

Back in August, Buffett told Becky that Berkshire had been adding to its holdings in either American Express or Wells Fargo. Today, he solved that little mystery. It was Wells Fargo."

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