Buffett's firm buys 10M share stake in GM

May 15, 2012  by in UnCategorized   

By Aggregated Content in on May 16, 2012 from http://c.moreover.com/click/here.pl?z6492398183&z=1250249030 Warren Buffett's company is apparently bullish on the U.S. auto industry.His company, Berkshire Hathaway Inc. took a new stake of 10 million in shares in General Motors Co. in the first quarter. The investment comes as the Detroit automaker continues to rebound from bankruptcy three years ago. It posted a first-quarter net income of $1 billion, fueled by U.S. vehicle sales.Buffett drives a GM-made Cadillac DTS sedan, so the investment could a further sign of his preference among U.S. automakers. Berkshire is not invested in Ford Motor Co. or Chrysler, which is majority owned by Fiat SpA.But the purchase

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