Zeev's Turnips Patch-No Politics (ZEEV)

[phill]

"Billionaire investor Warren Buffett is bulking up on telecom stock.

The traditionally tech-averse "Oracle of Omaha" has purchased $20 million of stock in a fiber-optic communications company, at least the second such company that he has invested in.

A filing Thursday with the Securities and Exchange Commission showed Buffett's investment vehicle Berkshire Hathaway Inc. bought 1.59 million shares in WilTel Communications Group of Tulsa, Okla., sending the company's shares soaring.

Berkshire also reported holding 879,000 shares in fiber-optic network company Level 3 Communications Inc. of Broomfield, Colo., worth $4.5 million as of March 31.

Last July, Berkshire Hathaway and two other investors agreed to invest a total of $500 million in Level 3 bonds convertible to stock to help it fund acquisitions."

http://biz.yahoo.com/ap/030516/berkshire_telecommunications_2.html


...all the while telling us how "overpriced" they are...

So, no thanks, none of the Omaha KoolAid for me.

regards,

phill