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Follow Buffett Into Railroad Stocks With Burlington Northern (BNI)
Contrarian Profits (November 3rd, 2008) Writes:
Warren Buffett is shopping for railroad stocks again. The ‘Oracle of Omaha’ increased his stake in Burlington Northern (NYSE:BNI) to almost 20% last month. Fuel efficiency and road congestion are two key factors supporting a bullish outlook for the railroad industry, says Jason Simpkins.
More from Jason in Money Morning:
Last month, the iconic investing guru once again displayed his enthusiasm for railroad stocks by adding to his already sizeable stake in Burlington Northern Sante Fe Corp. (NYSE:BNI). After picking up 7.85 million shares of Burlington in early October, Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A, BRK.B) last week added another 825,000 shares to its holdings at a price of $79.65 apiece
Buffett has been bullish on railroad stocks for the past year. Buffett made his first move on Burlington Northern in April 2007, acquiring nearly 40 million shares – close to 11%
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