Buffett uses 41 cent stamp to disclose $141 million stock sale

Taking advantage of an old rule, and following it to the letter, Berkshire Hathaway sent its disclosure of the sale of $141 millions of shares it owned in Petro China by regular mail, taking 10 days to be received. Buffett unloaded other shares of Petro China a couple of months earlier in July, also disclosing the sale by regular mail and also taking days -- this time 14 -- to reach its destination. Pretty sleazy stuff for a multibillionaire.

Taking advantage of an old rule, and following it to the letter, Berkshire Hathaway sent its disclosure of the sale of $141 millions of shares it owned in Petro China by regular mail, taking 10 days to be received. Buffett unloaded other shares of Petro China a couple of months earlier in July, also disclosing the sale by regular mail and also taking days -- this time 14 -- to reach its destination.  Pretty sleazy stuff for a multibillionaire.

 

While it may be unusual and strange, Berkshire’s actions were totally legal.  These guys are good, even if less than above board.  Read the full article about this in the Wall Street Journal.

 

Sol Nasisi
Sol Nasisi: Sol Nasisi is the co-founder and a past president of BestCashCow, an online resource for comprehensive bank rate information. In this capacity, he closely followed rate trends for all savings-related and loan products and the impact of rate fluctuations on the economy. He specifically focused on how rates impact consumers' ability to borrow and save. He also has authored a wee

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