Warren Buffett has announced he has amassed a huge 5.5% piece of IBM, although it was kept from all of us under the double secret exclusion act derived through natural law, but implemented by special permission by the SEC. Normally, companies such as Bershire would have to disclose their purchases. But now we know why Buffett wants the rich to pay more in taxes. It is to pay for the special treatment and subsidization they receive from the government each year.
Warren touts the great free markets whenever possible and wants everybody to operate fairly in the market place, except when he is amassing a huge stock position. Now it may be he wanted to merely surprise us with the great news that he, much like the great JP Morgan had helped the banks and US Treasury in the Great Panic of 1907, was continuing to support the economic recovery.
Maybe we should all be thankful for Warren and his ability to possibly be illuminating a top by infusing billions at purchase prices which were initiated in March of this year after a 150% rally in the stock since 2008. Maybe he really want us to join him and help support the position he is now lugging.
