These two articles (here and here) examine what portfolio moves Berkshire Hathaway made in the first quarter.
The most insightful comments came from value hedge fund manager Mohnish Pabrai:
It turned out to be a fairly quiet quarter in the market for Berkshire, with Buffett reporting no new stakes and made moves in only a handful of others. Mohnish Pabrai, a prominent Berkshire disciple and hedge fund manager, pointed out to Bloomberg that Buffett’s “energies are totally focused on acquisitions and the debt markets right now. There’s a lot of opportunity on the debt side because of liquidity drying up.” The implication is that Buffett prefers these types of opportunities to those he’s seeing in the stock market right now. Berkshire’s role in candy bar maker Mars’ takeover of gum maker Wrigley (NYSE: WWY – News) is also an example of the firm’s ability to take part in deals not available to other investors.
