What is Warren Buffett Buying Now?
Feb 17th, 2007 by Martin Lee
In a few hours time, we will be celebrating Chinese New Year here in Singapore. So, I will be taking a break today and won’t be reading any of Warren Buffett’s letter. Instead, here’s an interesting piece of news for you.
Recently, Berkshire disclosed that they had 1.02 million shares of Minnetonka, Minnesota-based UnitedHealth, the largest U.S. health insurance company, as of 31 Dec 06.
This represents less than 1 percent of UnitedHealth’s outstanding shares. Since Berkshire’s filing for the previous quarter with the Securities and Exchange Commission had no holdings of UnitedHealth, this means that the acquisition was quite recent.
This purchase came despite the fact that the company was being investigated by SEC for backdated stock options and they have not reported financial results since the first quarter of 2006.
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