Whitney Tilson, the co-founder of T2 Partners LLP, recommended investors buy Berkshire Hathaway Inc., saying the shares are the “cheapest we’ve ever seen it.”
Warren Buffett’s Berkshire Hathaway may rally to about $170,000, compared with yesterday’s closing price of $109,690, Tilson said today in New York at the Value Investing Congress, which he co-founded. The company’s stock buyback program limits potential losses, Tilson said.
Tilson also recommended J.C. Penney Co. Glenn Tongue, his partner at T2, said the shares may exceed $70, up from yesterday’s close of $29.99. Ron Johnson, who is leaving Apple Inc. to become the company’s chief executive officer, is the “best retail guy in the world,” Tilson said.