Buffett's Latest Purchases
When Buffett bought Nextel (NXTL) in the single digits, it was a home run.When Buffett bought Schering Plough (SGP), nothing happened.
Never assume the Oracle of Omaha will make you rich, but Warren Buffett has a stellar enough track record to have us giddy.
Apparently, Buffett has just made some 1 million + share purchases in three stocks we either own directly or recommend and have a favorable rating on here at the Catablast! Media Group.
It just came to my attention that Buffett's put some that $40 billion dollar net worth of his in First Data Corp (FDC), Home Depot (HD) and finally, Suntrust Bank (STI).
Suntrust is a bank we have been following for a month and will have a report on by Wednesday.
FDC is parent of Western Union, whose services we feel will enjoy explosive growth as the illegal immigration tsunami continues to besiege the US.
Wells Fargo (WFC) isn't part of of our coverage universe, but that's another one we think will benefit from the increased demand for mortgages and loans attributable to the influx of Mexicans into this country.
The Suntrust buy looks like a "value play" in that the Georgia bank just got hit with an SEC notice.
The chart screams downtrend, but we like the fundamentals too much to discount them.
What Buffett sees is what we see: Suntrust is a growing player in a sizzling environment.
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