billion to buy more than 5% of IBM’s stocks. That comes as a big surprise by the billionaire who till now has been reluctant to invest in high profile technology companies in the past.In his interview to CNBC Mr Buffett said “If you’re in some country around the world and you’re developing your IT department you’re probably going to feel more comfortable with IBM than with many companies”.
He also added that “there’s a fair amount of presumption in many places that if you’re with IBM, you stay with them”.
He also mentioned that he changed his mind in favor of investing into IBM stocks after he read IBM’s 2010 annual report and talked to the IT professionals of his company.
Interesting that Mr. Buffett mentioned that he would never invest into Microsoft because of his friendship with Microsoft fonder Bill Gates.
IBM stocks has almost doubled since the recession in 2008 which is based on the major
shift of the company to the high-margin ares of software and technology services. IBM shares traded today at near its 52 week high of $190.5.
Warren Buffett is 81 year old, the second richest man in the world and still lives in the house he purchased in 1958 for #31,500, drives an old Linkonl Towncar.
Source: About.com, BBC
Pictures source: Wikipedia, IBM