Feeds

Legendary investor scoffs IBM stake, nibble by nibble

Buffett makes first real bet on the tech sector

Build a business case: developing custom apps

Super-investor Warren Buffett's Berkshire Hathaway biz has revealed that he has spent most of this year buying up a 5.5 per cent share in IBM.

The "Oracle of Omaha" said Berkshire had bought $10.7bn of IBM's stock to take a stake that makes it, along with State Street Global Advisors, one of the largest investors in the company.

Buffett traditionally stays away from stakes in technology firms because he doesn't understand them, but said IBM was different.

"It's a company that helps IT departments do their job better. It is a big deal for a big company to change auditors, change law firms, [or change IT support]," Buffett said in a CNBC interview in the US.

He also said that IBM didn't know his company was building a stake in it and would be finding out from the TV show like everyone else.

Berkshire started buying Big Blue shares back in March with a view to secure $10bn worth of stock.

An IBM spokesperson could not be reached for comment at the time of publication. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.