Berkshire Hathaway & Warren Buffet Message Board

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Non-Tech : Berkshire Hathaway & Warren Buffet

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To: 249443 who wrote (149)	10/20/2001 11:21:58 AM
From: 249443	Read Replies (1) of 240

Berkshire Vice Chairman Munger to Sell $14.9 Million of Stock search.bloomberg.com By Laura Smitherman Washington, Oct. 16 (Bloomberg) -- Berkshire Hathaway Inc. Vice Chairman Charles Munger filed to sell $14.9 million of stock at current prices in Warren Buffett's company that owns the biggest U.S. reinsurer. Munger filed with the Securities and Exchange Commission to sell 200 founder's shares that he acquired in April 1966. Munger has been a director at Berkshire since 1978. Berkshire Hathaway stock has gained 10 percent since the Sept. 11 terrorist attacks, as many insurance stocks gained steam on the assumption that rates will be increased. Berkshire shares, which have grown to be some of the most expensive securities partly because the company has avoided stock splits, fell $200 today to $74,600 each. Munger last sold stock in November 2000, according to data compiled by the Washington Service, which tracks trading by company insiders. The approximate date of his latest sale was Oct. 12, according to the SEC filing, though he isn't obligated to dispose of all the stock he listed. Buffett is known for ``value investing'' and a philosophy of buying and holding already profitable companies. Omaha, Nebraska- based Berkshire is a holding company with subsidiaries in a variety of sectors, including retail furniture businesses as well as shoe, candy and rug manufacturers.

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