Nebraska Insurance

Warren E. Buffett, chairman of Berkshire Hathaway Inc., has a good reputation over the years as a brilliant investor who has a low to maintain a substantial portion of its business invested secret.

Warren E. Buffett, chairman of Berkshire Hathaway Inc., has a good reputation over the years as a brilliant investor who has a low to maintain a substantial portion of its business invested secret.

The step could mean that Mr. Buffett, before the collapse of 1987, said most stocks were overvalued, values sees now, but it does not want you share.

Given that Berkshire Hathaway obtained exemptions from the normal rules of the state and insurance services of the Securities and Exchange Commission, some of its investments are now the population that if Mr. Buffett does. Setting Off speculation

”You do not want all know, moving their investments,’’said Robert Lange, General Counsel of Nebraska’s insurance department. Berkshire has its headquarters in Omaha. The disclosure of records limited Berkshire this week shows that it has invested $ 181.9 million so far on an account whose contents are not disclosed.

Mr. Buffett decided to hide some guilds is probably the way to speculation about what he buys, but not those of the research taking cheek. Berkshire Hathaway has never been a hostile takeover or any passion shown to be involved in one. But his reputation as a master of investors could lead some investors to try to copy, its stores, and derive the price, while he tries for his position.

Berkshire Hathaway owns a number of operating companies, including See’s candies, Nebraska Furniture Mart, the Buffalo News, World Book Encyclopedia, and several insurance companies.

Given that Berkshire has a substantial portfolio of shareholdings, it is expected that an institutional investor. As such file, it must quarterly reports on their holdings with the SEC moreover, because there are a lot of investment by their insurance subsidiaries, is usually the turnover of public reports of authorities regulation.

The company has for years sought to avoid the disclosure of their shareholdings. During the last five years of its annual report, this statement by Mr. Buffett:”Despite our policy of openness, we discuss our activities in the securities market only insofar as the law requires. Good investment ideas are rare, valuable and under the pressure of competition as well the acquisition of commercial products or ideas.”

In pursuit of privacy, Berkshire, for several years, its reports with the SEC in a way because all or part of their public sector investment record. This occurred in connection with a provision to that effect, investment to be kept secret, if the disclosure of their show investment strategies und”verursachen important Schaden”an the wearer’s competitive position. Search by Filings

Less than 10 to more than 1600 institutional investors seek such confidentiality, “said Elizabeth Tsai, specialized assistance in the SEC’s investment management division.

Despite the S.E.C. Liberation, Berkshire shares has been sent to public opinion ready to search requests by insurance companies. It was, as analysts learned Berkshire investments this year, including shares of the Federal National Mortgage Association and Philip Morris.

But with the beginning of this year a report to the second quarter, the National Indemnity Company, Berkshire, began using a confidential trust to avoid the disclosure of certain businesses.

This is allowed in Nebraska, “said Lange, as long as no more than 5 percent of an insurance company assets are in such a trust.

It was not clear why Berkshire had not benefited from the provision. J. McKenzie Verne, Chief Financial Officer, no comment on this issue. National Indemnity’s second quarter report showed $ 26.3 million in secret, an amount which rose to $ 181.9 million in the third quarter, the report has been filed in this week. Starting from $ 17 to $ 2,687

If Mr. Buffett Berkshire Hathaway nearly a quarter of a century, it was a clothing manufacturer to fight with a value of less than $ 17 a share. In June this year, thanks in large part, on time and well exceeded the investment in these companies like Geico, the Washington Post and Capital Cities / ABC, the book value, which is the market value of shares traded publicly their owners, rose to $ 2687 a share.

With his own camp was even better. He sold less than $ 14 for the year 1965; closed yesterday for a share of $ 4700 in Over-the-counter “trade. Since the end of 1987, it is 59 per cent, far better result for most stocks. He is one of the few stocks of the 1987 trade above its pre-crash ceiling stands. Mr. Buffett himself and his family 45 percent of the company’s shares, a stake with a value of approximately $ 2.4 billion.

Mr. Buffett has consistently refused to Berkshire, on the distribution of its reserves and said that such a move would attract short-term oriented, and perhaps also stupid investors. Accordingly, Berkshire is by far the highest prices in each edition of the exchange. The end of this month, shares in trade on the New York Stock Exchange.