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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: QuietWon who wrote (56533)	2/17/1999 10:36:00 PM
From: SteveJerseyShore	Read Replies (1) \| Respond to of 119973

Buffett buys into two firms;The man KNOWS WASHINGTON (Reuters) - Famed stock-picker and billionaire Warren Buffett said he had acquired a 6.8 percent stake in Great Lakes Chemical Corp. and an 8.1 percent stake in TCA Cable TV Inc. Buffett also raised his stake in real estate investment trust MGI Properties (MGI) to 8.3 percent from 5.087 percent. Great Lakes Chemical (GLK) is an Indianapolis-based company that is the world's leading producer of certain specialty chemicals including those used in flame retardants and fire extinguishers. TCA Cable TV (TCAT) based in Tyler, Texas, is the nation's sixteenth largest cable television operator with systems in Arkansas, Louisiana and Texas. Buffett disclosed his stakes in documents filed Tuesday with the Securities and Exchange Commission. The filings were made on behalf of Buffett, his holding company, Berkshire Hathaway Inc. (BRK.A), and other associated companies. Known as the Oracle of Omaha, Buffett's investment choices are closely watched by others because of his talent for spotting undervalued companies. Buffett's 6.8 percent Great Lakes stake equaled 4 million common shares while his 8.1 percent TCA Cable stake was worth 4,035,000 shares. Buffett currently holds 1,141,300 common shares of MGI, a rise from the 700,000 shares he acquired and reported in a filing last October. The filings gave no indication of the price paid or quantities purchased in individual transactions. Great Lakes Chemical rose 4-5/8 to close at 40-1/4 on the New York Stock Exchange, while TCA Cable jumped 6-3/8 to 43-1/8 on the Nasdaq. MGI shares inched up 1/16 to 27-15/16.