Bloomberg News

Buffett Says Buyback Decision Was Based on Undervalued Shares

October 04, 2011

Oct. 4 (Bloomberg) -- Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc., said his company’s announcement last month that it will repurchase shares reflects his view that the stock was undervalued.

“We will buy our stock when we think it’s selling for less than it’s worth,” Buffett, 81, said today at Fortune magazine’s Most Powerful Women conference in Laguna Niguel, California.

--Editor: Dan Kraut

To contact the reporter on this story: Andrew Frye in New York at afrye@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net


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