November 3, 2009

Buffet, Lionel Collector buys BNSF, expands his collection

Big news today in the financial world is that Warren Buffet's Berkshire Hathaway has purchased the remaining 76% of BNSF that he did not already own for the tidy sum of $26 Billion Dollars. Liz Claman at Fox news learned that his house has a 3rd floor full of Lionel Trains. He stated all the reasons the deal made financial sense like: as the economy recovers more goods will be shipped on trains, trains are four times more fuel efficient than trucks, the barriers to entry are very high, a great management team is already in place, etc., etc.

He denied that collecting Lionel Trains had any impact on his decision to buy the BNSF collection. That however sounds very doubtful to me!

For more information see:,0,185679.story

No comments: