Buffett Continues USG Buying Binge
I bought back USG at around 46 a couple of days ago on its relative strength in the face of consecutive negative news on the housing market in US. It turns out that Buffet was the reason behind the strength: he's been buying USG at a price just below 46, to an 18.6% stake in total, up from 14.55% stake ahead of the rights offering.
Since Buffet did it in the open market and apparently in several days, I wonder how they can keep the spread so narrow without creating price spikes for a so illiquid stock. My own purchase or sale of, say, only 1000 shares can sometimes trigger a half-dollar price change!
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