World's Richest Man invests in RVs

Filed under: Earnings/Financials

Everyone's broke. Gas prices keep rising and falling. America's three largest manufacturers of recreational vehicles are losing money like their pockets are full of holes. Perfect time to invest.

Well, it is if you're Warren Buffett, the richest man in the world, who has made an art out of "buy low, sell high." Through his holding company Berkshire Hathaway, the Texas-based legendary Omaha investor has invested some $40 million in Middlebury, Indiana's Coachmen Industries, makers of the Viking line of motor homes. The move is diametrically opposed to that of fellow American investor Kirk Kerkorian, who is rapidly divesting from America's automakers. Prospects in the RV market hardly look any better than Detroit's - projections place sales next year at their lowest in 18 years - but sooner or later, they'll recuperate. You can bank on that...Warren Buffett certainly is.

[Source: Edmunds Auto Observer | Image: Alex Wong/Getty]

World's Richest Man invests in RVs originally appeared on Autoblog on Tue, 06 Jan 2009 08:31:00 EST. Please see our terms for use of feeds.

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