INSUBCONTINENT EXCLUSIVE:
chairman poured more money into stock purchases last quarter than he has in over four years
in July with a loosened repurchase policy, allowing Buffett and Vice Chairman Charlie Munger to buy back stock whenever they felt the shares
were below intrinsic value
The previous policy limited them to purchasing stock only when the price was below a 20 percent premium to book value.
Buffett repurchased
that money unless prices make sense
During his annual meeting in May, Buffett said he would prefer share buybacks to a special dividend.
Now, the worst month for United States
stocks in seven years has made several of his favorite companies significantly cheaper
He purchased $12.6 billion of equity securities on a net basis during the third quarter, the most in more than four years
A regulatory filing indicated Berkshire added billions to its stake in Bank of America in the third quarter, continuing a trend from the
Management, which oversees $1.5 billion including investments in Berkshire
