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Tilson Says Buffett’s Berkshire ‘Cheapest We’ve Ever Seen’

Oct. 18 (Bloomberg) -- 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.

To contact the reporters on this story: Nikolaj Gammeltoft in New York at ngammeltoft@bloomberg.net; Joshua Fineman in New York at jfineman@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net

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