According to Warren Buffett's latest Securities and Exchange Commission Form 13F filing. His Berkshire Hathaway Inc filing shows he holds 3,447,000 shares of Gannett stock.
http://www.thomsoninvestortools.com/component/firm/aol/resources/asp/getReportPdf.asp?docKey=168-081019796-13333NF6DF74IEVEESTQO99TVG&docType=PDF
According to this information, Warren Buffett's group has lost almost 124 million dollars in Gannett's stock value over the past year.
'This ain't chicken feed even for a Billionair'.
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Investors like Buffett don't look at just one year. They care about what happens over ten years. Also, everybody that makes money needs a couple of losers to keep their taxes down.
ReplyDeleteSeriously though, I would have expected Warren Buffett to be a little more prudent in his hanging onto a sinking ship.
ReplyDeleteBut then again, maybe he wants to take the hit in order to propagate his own agenda by owning one of America's largest newspaper chains. Then he can manipulate people into his way thinking just like The Daily Times has tried to do locally for so many years. At least until SBYnews came along.
Warren Buffett is not only a billionaire, he is the 2nd wealthiest man in the world. I think it's safe to say he can well afford to lose a few bucks, now and again. He can't give everything to Bill and Melinda Gates.
ReplyDeleteyou have to show a loss for the tax break....
ReplyDelete