Gushing Posco Steel Can't Help But Blabber Buffett's Intention To Buy More Shares (PKX)

Buffett's newest rule of investing -- never say anything important to Posco.

Bloomberg: Warren Buffett wants to increase his stake in Posco, Asia’s most profitable steelmaker said after its Chief Executive Officer Chung Joon Yang met the billionaire chairman of Berkshire Hathaway Inc.

Berkshire “holds about 3.9 million shares to 4 million shares of Posco and will increase the holding,” South Korea’s largest steelmaker said today in an e-mailed statement, citing Buffett. Omaha, Nebraska-based Berkshire didn’t immediately respond to a message left with Buffett’s assistant Debbie Bosanek after 9:30 p.m. local time.

Expect a ramp up for Posco shares. Photo courtesy of Posco, via Yonhap News. See the original Yonhap article here.

The author does not own shares of Posco.

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