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Post Info TOPIC: Buffett Bets on Economy with Latest Acquisition

Learning to Fly

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Date: Nov 3 15:55:18 2009
Buffett Bets on Economy with Latest Acquisition

The world's most famous investor, Warren Buffett, will be making what he refers to as an economic "all-in wager".  Buffett plans to buy the railroad company, Burlington Northern.  The investor already owns just over twenty percent of the company, but will now lay down $100 per share for the remaining shares, more than a thirty percent premium on Burlington's Monday closing price.

The railroad company is the 2nd biggest railroad and first when it comes to hauling food products, consumer goods, and coal.  Buffett's acquisition shows just how much Buffett believes in the country's recovery.  After the announcement Burlington stock jumped more than twenty-five percent to $97.00


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