Buffett’s IBM bet

Warren Buffet$10.7 billion ($10,700,000,000)

Berkshire Hathaway CEO and infamous technology stock evader Warren Buffett disclosed on Monday that his company had acquired 64 million shares (5.5%) of IBM this year for approximately $10.7 billion.  Buffet has earned him the moniker the Oracle of Omaha for his shrewd, successful, and decidedly non-technology investments.  Buffet has been buying IBM shares at an average cost of $167 per share and since IBM closed at $187.35 per share on Monday, Buffett’s holdings are already up more than 10%.

Buffett made headlines earlier this year for suggesting that tax code be re-written to more heavily tax the ultra-wealthy.

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