Warren Buffett Once Got Permission From the SEC to Hide His Trades for a Year to Buy 1 Stock: Decades Later, Is It Still a Buy?

In the late 1980s, Warren Buffett asked the Securities & Exchange Commission (SEC) for special permission not to disclose his trades for a year, on the grounds that his reputation as an investor was so formidable that news of his new investment would move markets.The SEC obliged, and when Berkshire Hathaway shareholders showed up at their annual meeting in 1988, they had no idea that Buffett had bought 14 million shares of a company he was newly bullish on. There was only one clue as to what he had done. Instead of his customary PepsiCo dosed with cherry syrup, he was swigging Coca-Cola (NYSE: KO).For years, Buffett had had his eye on Coca-Cola, according to his biographer Alice Schroeder. But the stock had been too expensive for him to buy, until a pricing war with Pepsi dragged the stock down to $38 per share.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool