Tuesday, Sep 08, 2009
Buffett to buy distressed mortgage finance company
247wallst.com: Buffett Gets Deeper Into Housing and Real Estate
I doubt if this can be classed as a vote of confidence in housing returning to normal as the article suggests. Buffett has a good eye for a bargain. "Berkshire Hathaway Inc. (NYSE: BRK-A) is teaming up with Leucadia National Corp. (NYSE: LUK) to acquire the North American mortgage and servicing operations of Capmark Financial Group Inc... Capmark is said to be looking for a debt restructuring and also looking at options for its business holdings as it has discussed bankruptcy protection as a possibility. "
Posted by mountain goat @ 05:51 PM (540 views) Add Comment
6 Comments
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1. mountain goat said...
Bloomberg references mentioned in the article are
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aBHPF1BALUQw
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=azZ_TAszMTDM
2. paranoia blue said...
Buffet turning into an old buffer?
3. uncle tom said...
"Buffet turning into an old buffer?"
No. He's not buying into property, but into what we call estate agents.
By my reckoning, US property has dropped to a sustainable level, but will over-correct a little before settling.
I'd say WB's timing is just about spot on - I can see him picking up some actual real estate in about a year's time.
4. paranoia blue said...
As ever, time will tell! Let's wait for the bell to toll!
5. Smiling said...
-@3 Uncle Tom...I'd say WB's timing is just about spot on
I'm sure he will appreciate the endorsement
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