Another Great One-Liner from Warren Buffett
This post by Jill Schlesinger originally appeared on CBS' MoneyWatch.com.
Time will tell whether Berkshire Hathaway's acquisition of railroad operator Burlington Northern Santa Fe is a money-maker, although I would be the last one to doubt Warren Buffett.
(AP)
The deal is not just momentous in terms of size, but it also includes the first ever 50-for-1 stock split of its smaller, class B shares (for the record, Class A trades at approximately $100,000 per share.) The B shares fetch over $3,300 each today, which means that after the split, the cost of one share will be around $65. I remember my brother in-law asking me about his holding in Berkshire Hathaway some years ago. My response was that owning the shares was akin to having a fairly inexpensive value fund in your portfolio.
Gen. Ray Odierno, head of multinational forces in Iraq, on progress there and plans for Afghanistan.
