OFF THE TICKER : Berkshire Stock Buffs His Bankroll
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NEW YORK — Warren Buffett, famed Wall Street investor and chairman of Berkshire Hathaway Inc., reaped about $1.3 billion--the largest net increase in wealth in 1992, Birinyi Associates said.
In 1992, Berkshire shares rose about 30% to $11,750 a share from $9,050 a year before. On Nov. 17, Berkshire became the first stock to trade at more than $10,000 a share, and Buffett owns about 45% of the shares.
Laszlo Birinyi, Birinyi president, said Buffett’s stake was the primary reason for the surge in his fortune.
Buffett is known for taking large positions in companies he considers undervalued and holding the stock for several years.
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