Mondays With Buffett
Monday. What can you say about Mondays other than Monday?
The first thing I typically do on Mondays is check the news.
When I did so today, one of the first headlines I read said “Buffett Buys Into IBM.” At first I missed the function “into” and thought Buffet had bought IBM.
No, he didn’t buy the whole company, but he did buy a nice big chunk (He being renowned investor Warren Buffett). He bought 64 million shares, around 5.4% of the outstanding stock.
As the Journal article pointed out, Buffett has historically stayed away from tech stocks, but said in this case “It’s [IBM] a company that helps IT departments do their job better.”
He went on to say that he “admired IBM” because they had laid out clear long-term goals and met them.
A fiduciary vote of confidence from Warren Buffett — now that’s a nice way to start a Monday.