BargainValueHunter Posted February 2, 2017 Share Posted February 2, 2017 This is an old article from 2004 by James Altucher about an interesting side of Warren's investing. The original version can't be found on the 'Net so here is an old Blogspot mirror with the original text: http://futuresasia.blogspot.com/2008/04/profitable-hobby-of-warren-buffett-by.html Throughout 1999 and 2000, Burnham Pacific, an owner of shopping malls, was selling off its stores at a premium to the value of those stores recorded in the books. With the company trading at a discount to net asset value and a poison pill adopted to ward off a hostile takeover, shareholders were getting restless (and suing). Finally, at the end of 2000, shareholders approved a complete liquidation plan. Buffett bought more than 5% of the liquidating company in December 2001 and enjoyed the benefits of its final six months of liquidating properties for more than they were initially valued at. Link to comment Share on other sites More sharing options...
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