Why Is Warren Buffett Buying Back Berkshire Hathaway Stock?
Filed under: Investing, Berkshire Hathaway, Market News
Earlier this month, famed billionaire and Berkshire Hathaway (BRK-A) (BRK-B) chairman Warren Buffett dropped a bombshell.
Breaking with past practice, and changing the financial rules he himself laid down, Berkshire is buying back its own stock — and plans to keep buying back its stock at any price up to and including 1.2 times “book value.”
What’s book value?
“Book value” is basically the price of a company’s constituent parts before they’ve been assembled into a whole, tradable corporate…
Why Is Warren Buffett Buying Back Berkshire Hathaway Stock? originally appeared on DailyFinance.com on 2012-12-27T07:00:00Z.
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