Warren Buffett and housing

Warren Buffett is positioning Berkshire Hathaway Inc. (NYSE: BRK-A) to profit when the housing and property market returns to more normal levels. Now, he is teaming up with what many investors consider a “Buffett rival.” 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. Interestingly enough, a company affiliated with Buffett and Berkshire Hathaway called HomeServices of America made a real estate firm acquisition in Chicago earlier this week.

Berkshire Hathaway probably has $50 billion that can be used for deals in the near-term and intermediate-term.

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Moody's

Buffett dumps Moody’s (ticker: MCO).
The sales listed in the latest filing are:
7/20/09… 1,817,000 at $28.7269 average in open market sale.7/21/09… 3,915,100 at $26.9188 average in open market sale.7/22/09… 2,254,200 at $26.6425 average in open market sale

Also other insiders are dumping the stock: National Idemnity, OBH and GEICO. This is not boding well for the future of this rating agency in particular, but people seem to know that something is brewing.

Buffett reduced his stake from 20,2% to 16.98% over the last days.

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Let's have a smile

We got a series of Warren Buffet quotes thanks to bankling.com.
Enjoy

On Investing
“Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.”
“It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”
“Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.”
“We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”
“Why not invest your assets in the companies you really like? As Mae West said, “Too much of a good thing can be wonderful”.”

Funny Ones
“A girl in a convertible is worth five in the phonebook.”
“When they open that envelope, the first instruction is to take my pulse again.”
“We believe that according the name ‘investors’ to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a ‘romantic.’”
“When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.”
“In the insurance business, there is no statute of limitation on stupidity.”

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