The GuruFocus quarterly contest to guess which stocks Warren Buffett (Trades, Portfolio) bought begins today.
The second-quarter contest encompasses stocks of which he owns less than 5% (for instance, Phillips 66 (PSX, Financial) and Verisign (VRSN, Financial) are excluded because he reports purchases of these large positions during the quarter) purchased from April to June. It also includes stocks purchased by his two portfolio managers at Berkshire Hathaway, Ted Weschler and Todd Combs.
To participate, choose three stocks the investors purchased and submit their ticker symbols in the comments section below. Support your ideas with a sentence or phrase explaining why.
Winners will be announced after Buffett releases his portfolio in about two weeks. They will win the covetable prize of a value investing classic, sent to them via Amazon.
· Joel Greenblatt: The Little Book That Still Beats the Market
· Joel Greenblatt: You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits
· Benjamin Graham: The Intelligent Investor: The Definitive Book on Value Investing
· Martin Whitman: The Aggressive Conservative Investor
· Peter Lynch: Beating the Street
· Peter Lynch: One Up On Wall Street: How To Use What You Already Know To Make Money In The Market
· Benjamin Graham: Security Analysis: The Classic 1934 Edition
· David Dreman: Contrarian Investment Strategies - The Next Generation
· The Snowball: Warren Buffett and the Business of Life
· Howard Marks: The Most Important Thing: Uncommon Sense for the Thoughtful Investor
If a winner already owns the above books, we will send them another of their choice (except maybe Margin of Safety).
In the past quarter, Buffett surprised investors by starting a position in Apple (AAPL, Financial), and he added shares to nine of his existing holdings, led by Liberty Media (LMCA, Financial), Visa (V, Financial) and Bank of New York Mellon (BK, Financial). See more details in his portfolio here.
Don’t forget to participate by adding your three guesses in the comments suggestion below. Good luck!
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