Warren Buffett is getting back to basics. Berkshire Hathaway's three new third quarter investments are in companies that create the building blocks for manufacturing and agriculture.
Warren Buffett's Berkshire Hathaway (BRKA) (BRKB) purchased new stakes in Deere & Company (DE), Precision Castparts (PCP), and Wabco (WBC), according to SEC filings released Wednesday afternoon. Deere is the well-known maker of tractors and other farm equipment. Precision Castparts makes the nuts and bolts used in aircrafts, trucks, and heavy machinery. Wabco builds brakes and internal systems for cars and trucks.
He continued to place bets on "old media. In May 2012, Buffett, who owns the Omaha World-Herald and stakes in the Washington Post (WPO), also purchased 63 newspapers from Media General. Berkshire also boosted its stake in cable TV and movie powerhouse Viacom (VIAB).
Berkshire Hathaway is still looking for more companies to buy outright though. Buffett said he's still on the lookout for a big acquisition in an interview with CNN's Poppy Harlow Wednesday at his fund's Berkshire Hathaway headquarters in Omaha.>
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