Just in the last week (while I was away) Berkshire acquired a huge stake in Kraft and also added to his position in USB and Wells Fargo banks. He took on a new small (for him, anyway) position in Glaxo-Smith-Kline, a pharma company that I've been studying for a year or so now. These investments were registered with the SEC Dec 31, 2007.
The thing I find hard to understand is how he made the statement just a few weeks ago that he didn't find the current market particularly attractive from a valuation perspective, yet his cash flow suggests otherwise....
Can anyone explain this?
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