Warren Buffett's company dumps another 5 million shares of printer maker HP
Omaha (AP): Investors soon won't be able to follow Warren Buffett's every move in HP's stock if the billionaire's company keeps selling off shares of the printer and computer maker.
Berkshire Hathaway's ownership of HP Inc. is about to drop below 10 per cent after it sold nearly 5 million shares, according to a regulatory filing by Buffett's company late Monday.
The Securities and Exchange Commission requires investors who own less than 10 per cent of a company to report their company holdings only on a quarterly basis rather than big investors who must disclose their actions closer to the time of a so-called "triggering" event, which can mean buying or selling shares.
Many investors do watch Buffett's moves closely because of his extremely successful track record over the years.
Not that long ago, Berkshire owned more than 12 per cent of HP's stock before it started to trim its stake last month. Now it's down to 10.2 per cent after several stock sales of the Palo Alto, California, company.
In the past 30 days, shares of HP Inc. have tumbled nearly 14 per cent, but there has been a fairly broad sell-off across the tech sector. In the same span, shares of Apple Inc. have fallen 9 per cent. But HP is still one of the biggest decliners among peers.
Buffett may be doing more than just trimming the investment, but he doesn't comment on stock sales like this any more than what he's required to disclose because he doesn't want to tip his hand while Berkshire might still be selling. He didn't immediately respond to questions Tuesday on these latest sales.
Berkshire amassed its HP stake early last year. Even after the latest sales, Buffett's Omaha, Nebraska-based conglomerate still held more than 100.9 million shares. Altogether, Berkshire has sold just over 20 million shares in the past month.
Throughout his investment career, Buffett has famously resisted investing in tech companies because he said he couldn't confidently pick out the long-term winners. But in recent years, Berkshire has bought a massive stake in Apple that ranks as the largest investment in its USD 350 billion portfolio. Buffett has said he considers Apple a consumer products company with extremely loyal customers, and he can understand that kind of business.
Besides investments, Berkshire owns an eclectic mix of companies, including Geico insurance, BNSF railroad, several major utilities and an assortment of manufacturing and retail businesses including well-known brands like Dairy Queen, See's Candy and Helzberg Diamonds.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
India's neighbours wanted to break up Assam but Modi govt shattered their dreams: Fadnavis
Dibrugarh/Jorhat (PTI): Maharashtra Chief Minister Devendra Fadnavis on Tuesday claimed India's neighbours wanted to "break up" Assam by taking advantage of the unrest here earlier, but their "dreams were shattered" as the Narendra Modi government brought peace to the region.
Militancy has come to an end, and 92 per cent of the assurances made in the peace agreements with various groups have already been implemented, he told a poll rally.
Fadnavis maintained that the BJP-led government in Assam has not only ensured the state's development but also protected its identity.
He accused the Congress of having neglected the state and the northeastern region by adopting a "step-motherly attitude" towards them, while Modi has put the region at the centre of development.
Addressing a rally in support of BJP's Dibrugarh candidate Prasanta Phukan, Fadnavis said, "Due to the unrest in the state earlier, neighbouring countries thought they would break Assam someday. But their dreams were shattered by Modi ji, and Assam is progressing fast today."
Crediting the BJP government for bringing the militant groups to the mainstream, the Maharashtra chief minister said not only were peace accords signed with them, but 92 per cent of the assurances made have been implemented.
"Work is on for implementing the remaining eight per cent of promises also," he added.
Highlighting the various welfare measures of the state government, Fadnavis said special emphasis was being given on women's empowerment in line with the Centre's thrust on it.
"Women have benefited the most under Modiji's government. It will be 'Mahila raaj' from 2029 when 33 per cent reservation is implemented in Parliament and state Assemblies," he added.
Speaking at another rally in support of the BJP's Jorhat candidate Hitendra Nath Goswami earlier, the Maharashtra chief minister alleged that infiltration was at its peak in Assam under Congress governments.
"People had to launch a movement against it, and scores were martyred. But the influx did not stop, and the state was burning. It was staring at a full demographic change."
"But the situation changed when Modi came to power. Infiltration has been stopped, and almost all militant groups in the state are returning to the mainstream," he claimed.
Fadnavis claimed that the state's demography would have changed and Assam's history would have been rewritten under the Congress rule.
"But the Modi government works not just for development, but also protects the state's identity, culture, history, and tradition," he said.
He told the gathering that the BJP-led government has ensured massive infrastructure development for the state.
Mentioning the Tata Group's semiconductor unit at Jagiroad, Fadnavis said, "It is a gift of Modi ji to Assam. It will place the state on the global map."
He added that countries with the ability to manufacture semiconductors will be global leaders in the future, and India has joined the elite ranks of a handful of nations.
Taking a dig at the Congress, Fadnavis alleged it had always adopted a "step-motherly attitude" towards the northeast, due to which the region did not see much development, and was embroiled in unrest.
He also criticised the opposition party for its "anti-national stance" during the West Asia crisis, claiming it was trying to create discontentment among the people by raising false doubts over the availability of LPG and fuel.
"We had also been in the opposition, but we had never acted in such a shameful manner," he said.
Taking a dig at state Congress president Gaurav Gogoi, who is also the opposition party's candidate in Jorhat, Fadnavis said, "Those in Lok Sabha should remain there. BJP will return to power, and he will have no work here."
Gogoi is also the opposition party's deputy leader in the Lok Sabha.
