Published in News

Warren Buffet's Intel love affair over

by on16 August 2012

y stocks

Dumps Intel shares

Contrary investor Warren Buffet hit the headlines when he decided that Intel shares were low enough to make a really good deal.

Buffet, who is one of the world's richest men, made a fortune by investing in companies that others were not interested enough in. The news caused a rise in Intel's share price as people started to look at the chipmaker thinking there must have been something they did not see.

However according to Bizjournals the latest regulatory disclosure on the portfolio of Berkshire Hathaway, which is Buffet's company, no longer has Intel inside. Instead Buffet is sticking his cash in Wells Fargo. He had a relatively small stake in Intel,  with 7.7 million shares.

It is not clear why Buffett changed his mind. It just might simply be that he thinks there are better things to stick his money in.

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