Corner of Berkshire & Fairfax Message Board

General Category => Berkshire Hathaway => Topic started by: Junto on September 26, 2011, 06:16:29 AM

Title: BRK - Berkshire to buy back stock, Keep $20 billion cash
Post by: Junto on September 26, 2011, 06:16:29 AM
Buy back initiated this morning: Company Release http://bit.ly/qoMO7A

Quote
Omaha, NE (NYSE: BRK.A; BRK.B)—Our Board of Directors has authorized Berkshire
Hathaway to repurchase Class A and Class B shares of Berkshire at prices no higher than a 10%
premium over the then-current book value of the shares...Berkshire plans to use cash on hand to fund repurchases, and repurchases will not be made if
they would reduce Berkshire’s consolidated cash equivalent holdings below $20 billion. Financial strength and redundant liquidity will always be of paramount importance at Berkshire.
Title: Re: BRK - Berkshire to buy back stock, Keep $20 billion cash
Post by: Parsad on September 26, 2011, 08:26:26 AM
They did the exact same thing in 2000...the last time the stock was so cheap.  I expect it to outperform the S&P500 for the next year now!  Cheers!