Warren Buffett may be wrong again – takes more stake in oil producer ConocoPhillips and took a stake in manufacturer Eaton Corp
Ashley Chabra
Nov. 15, 2008

Warren Buffett's Berkshire Hathaway Inc. had more than 83 million shares in Houston-based ConocoPhillips as of Sept. 30, compared with about 17.5 million on March 31, the company said t in a regulatory filing.

Berkshire became the largest shareholder in oil producer ConocoPhillips and took a stake in manufacturer Eaton Corp. in the third quarter as stock markets tumbled.

Warren Buffet is losing money right and lest now. He just could not see the financial collapse. The billionaire, close friend of Obama is now adding positions confirming that the southern wave of the stock market may not be over yet.

It is true the market is cheap but the debacle is far from over. There is a Federal floor to this market at Dow 8000. But that floor will be breached in the middle of 2008 and Dow will fall below 5000.

Warren Buffett may be wrong again – takes more stake in oil producer ConocoPhillips and took a stake in manufacturer Eaton Corp
Ashley Chabra
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