Buffett battles his own fame as bargain hunter

With $100m a week to invest, Warren Buffett resorted to the law to close his latest deal, writes DAVID PLUMB

THE billionaire investor Warren Buffett, who runs Berkshire Hathaway Inc, is battling his own reputation as a bargain hunter as he seeks to deploy the $400 million a month the company’s insurance units produce.

With pressure on to keep the $111 billion company growing after four decades of 22% average annual returns, the 72-year-old chief executive officer had to overcome a four-month campaign by minority stockholders in Clayton Homes Inc to block his $1.7 billion purchase. Critics said the price was too low.