Warren Buffett’s investment company Berkshire Hathaway bought 1.6 million more shares of Burlington Northern Santa Fe Corp. (BNI, Financial) from 8/3 to 8/7 at prices around $80.
We have reported in April that Warren Buffett bought 39 million shares of Burlington Northern Santa Fe Corp. (BNI), his investment company Berkshire Hathaway became the largest of shareholder of Burlington Northern Santa Fe Corp. according to the most recent filing of Berkshire Hathaway. As of 08/07/2007 , Berkshire owns 40,647,730 shares of Burlington Northern Santa Fe Corp., that is about 11.5% of total outstanding shares. These shares are worth more than $3.2 billion today.
Burlington Northern Santa Fe Corp, through its subsidiaries, is engaged primarily in the freight rail transportation business. BNSF transports a range of products and commodities derived from manufacturing, agricultural and natural resource industries. Its freight business consists of consumer products, industrial products, coal and agricultural products.
Warren Buffett also bought two other railroad companies, Norfolk Southern Corp and Union Pacific Corp . It is not reported whether Warren Buffett added to these two companies, too.
Following the date that Warren Buffett’s purchase of railroad shares was reported, all railroad shares jumped significantly. The recent market decline has bought the prices back to where it was when Buffett first bought these shares. It is not surprising that Warren Buffett added to his holdings in railroads.
Buffett’s purchase of rail companies has surprised a lot of his followers. During the Berkshire annual meeting in May, Buffett said that railroad business would never be "sensational," yet its prospects had improve. Charlie Munger, Vice Chairman of Berkshire Hathaway, commented during the annual meeting of Wesco Financial (WSC), Buffett and he himself “used to not like them because they needed large amounts of capital, had tough unions, and stiff competition from the trucking business. The paradigm had shifted. Now the railroad industry has a competitive advantage by double-stacking freight. With all of the imports from China , the U.S. has a huge amount of freight being sent across the county.”
"I've got an elephant gun, I just can't find the elephant," Warren Buffett said during an interview. With about $50 billion in cash, Buffett is seen to look into the new areas for investment ideas.
We have reported that Warren Buffett spent $11 billion in stocks during the second quarter. We have started a contest to see who can best predict what stocks Warren Buffett bought during the second quarter. You can participate this contest by going to: GuruFocus Contest: What Stocks Did Buffett Buy?
We have reported in April that Warren Buffett bought 39 million shares of Burlington Northern Santa Fe Corp. (BNI), his investment company Berkshire Hathaway became the largest of shareholder of Burlington Northern Santa Fe Corp. according to the most recent filing of Berkshire Hathaway. As of 08/07/2007 , Berkshire owns 40,647,730 shares of Burlington Northern Santa Fe Corp., that is about 11.5% of total outstanding shares. These shares are worth more than $3.2 billion today.
Burlington Northern Santa Fe Corp, through its subsidiaries, is engaged primarily in the freight rail transportation business. BNSF transports a range of products and commodities derived from manufacturing, agricultural and natural resource industries. Its freight business consists of consumer products, industrial products, coal and agricultural products.
Warren Buffett also bought two other railroad companies, Norfolk Southern Corp and Union Pacific Corp . It is not reported whether Warren Buffett added to these two companies, too.
Following the date that Warren Buffett’s purchase of railroad shares was reported, all railroad shares jumped significantly. The recent market decline has bought the prices back to where it was when Buffett first bought these shares. It is not surprising that Warren Buffett added to his holdings in railroads.
Buffett’s purchase of rail companies has surprised a lot of his followers. During the Berkshire annual meeting in May, Buffett said that railroad business would never be "sensational," yet its prospects had improve. Charlie Munger, Vice Chairman of Berkshire Hathaway, commented during the annual meeting of Wesco Financial (WSC), Buffett and he himself “used to not like them because they needed large amounts of capital, had tough unions, and stiff competition from the trucking business. The paradigm had shifted. Now the railroad industry has a competitive advantage by double-stacking freight. With all of the imports from China , the U.S. has a huge amount of freight being sent across the county.”
"I've got an elephant gun, I just can't find the elephant," Warren Buffett said during an interview. With about $50 billion in cash, Buffett is seen to look into the new areas for investment ideas.
We have reported that Warren Buffett spent $11 billion in stocks during the second quarter. We have started a contest to see who can best predict what stocks Warren Buffett bought during the second quarter. You can participate this contest by going to: GuruFocus Contest: What Stocks Did Buffett Buy?
