Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: hueyone who wrote (46144)	9/3/2001 6:36:30 PM
From: Stock Farmer	Read Replies (1) \| Respond to of 54805

Hueyone However, I prefer to attribute the expression to technical traders rather than those seeking to value a business such as Warren Buffet does. Yes, I was of that opinion too. I think we had this discussion on this thread a while back... Message 15974492 plus posts previous and subsequent. I don't know that we want to go there again. John.

To: hueyone who wrote (46144)	9/3/2001 7:14:32 PM
From: JHP	Respond to of 54805

You think Warren naive? Wednesday August 29 3:50 PM ET First Industrial Down After Buffett Sale NEW YORK (Reuters) - Shares of First Industrial Realty Trust Inc., a Chicago-based real estate investment trust, fell more than 4 percent on Wednesday following news that influential investor Warren Buffett (news - web sites) had sold his stake in the firm. First Industrial (NYSE:FR - news) shares were down $1.43, or 4.3 percent, to $31.80 in afternoon trade on the New York Stock Exchange (news - web sites). The stock is down about 9 percent so far this year, from highs around $35 at the end of December. For most of the past two years, First Industrial has basked in the glory of being a stock recommended by Buffett in December 1999. Omaha, Nebraska-based Buffett, otherwise known as the ``Sage of Omaha'' for his phenomenally successful investing, is followed by many in the market. He is currently the world's second-richest man behind Bill Gates (news - web sites). But Buffett has sold his stake in First Industrial, the Wall Street Journal reported on Wednesday. The sale was confirmed by a spokeswoman at Berkshire Hathaway Inc. (NYSE:BRKA - news), the holding company controlled by Buffett. Buffett owned about 4 percent of First Industrial, or 1.8 million shares, which he bought at about $24 a share, making a total investment of about $43 million, a spokeswoman for Buffett said. He held the shares personally. That stake would be worth about $57 million at current prices, suggesting that Buffett made a handsome profit on his investment. First Industrial's chief executive Michael Brennan said he does not comment on the activities of specific investors but said he was pleased that Buffett had found value in the stock and that the stock price had appreciated. ``We understand that there will be periods where investors see value and periods when they think it's time to go,'' he said.