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Strategies & Market Trends : Buffettology -- Ignore unavailable to you. Want to Upgrade?

To: Larry S. who wrote (3344)	8/20/2003 10:07:18 PM
From: Glenn Petersen	Respond to of 4690

SEC Denies Buffet Confidentiality Appeal washingtonpost.com The Associated Press Wednesday, August 20, 2003; 8:14 PM OMAHA, Neb. - The Securities and Exchange Commission has denied Warren Buffett's appeal to delay disclosing some of his stock holdings. Buffet, the chairman of Berkshire Hathaway Inc., was looking to prevent others from imitating his investment moves. The billionaire investor had argued that other investors would follow his lead and that increased the prices of those stocks and the price of Berkshire's acquisitions. In it ruling released Wednesday, the SEC said, "Berkshire has not adequately demonstrated the likelihood of substantial competitive harm." The commission also said that in two cases, Berkshire had filed revised forms that revealed the securities it was attempting to require, making the SEC's denial of the request for confidential treatment moot. The SEC also said it recognized that there have been occasions when disclosure of Berkshire's stock purchase or selling programs has caused a spike in stock prices. "However, we hesitate to declare that such disclosures will inevitably lead to market disruption so severe as to cause substantial competitive harm to Berkshire's competitive position in all cases," the release said. Officials at the SEC and Berkshire Hathaway did not immediately return telephone messages by The Associated Press seeking comment on the ruling. --- On the Net: Securities and Exchange Commission: sec.gov Berkshire Hathaway: berkshirehathaway.com © 2003 The Associated Press