Warren Buffett’s Investment in Exxon Mobil

Warren Buffett’s investment strategy is discussed in the Omaha World-Herald on May 3, the day of the Berkshire Hathaway annual meeting.  I am quoted in this article, “Another Big Name Added to Portfolio: Exxon Mobil” as follows:

“The purchase of shares in the world’s most profitable company, said University of Maryland business professor and Berkshire shareholder David Kass, illustrates the stock-picking method that has made Berkshire Chairman and Chief Executive Warren Buffett a legend in the field. Kass, like many who follow Buffett’s stock picks, believes the Oracle of Omaha has a mental list of companies he admires and whose shares he would like to own, if only they were a little cheaper or if their underlying economics changed a little for the better.

“Warren Buffett closely follows hundreds of stocks over many years by carefully reading their annual reports along with other financial reports,” said Kass, a regular annual meeting attendee who brings business school students along. “He is very patient, and when circumstances change, such as an attractive price and an improved outlook for earnings over a five-year time frame or longer, he is ready to make a sizable investment.”

The entire article is available at:

http://omaha.com/article/20140503/MONEY/140509857