Warren Buffett News : Doug Kass, Hypocrisy, Favorite Stocks

BERKSHIRE HATHAWAYDoug Kass : Bet on Warren Buffett (CNBC)
Famed for his market timing, Doug Kass tells us he’s spotted a new trend underway and tells us Warren Buffett is poised best to benefit. Specifically Kass thinks markets are on the brink of a massive recovery in housing. “We have a number of factors conspiring to mark what I believe will be a very durable multi-year recovery that could last through the decade,” says the president of Seabreeze and CNBC Contributor.

Rants & Raves : Warren Buffett’s Hypocrisy (Jacksonville)
Warren Buffett is consistently in the news complaining that he pays less income tax than his secretary. He insists that most millionaires pay less income tax than the “middle class.” Mr. Buffett has had “deep pockets” for many years. Why is he just now wanting to pay more taxes and insisting that all millionaires do the same? Where was he 10 or 20 years ago when the “middle class” was supposedly paying more income tax than millionaires? I smell hypocrisy and a political ploy.

Warren Buffett’s favourite tech stock (The Motley Fool)
The following video is part of our “Motley Fool Conversations” series, in which analyst John Reeves and analyst Jason Moser discuss topics across the investing world.
Right now, we know all about Buffett’s big four stocks: Coca-Cola (NYSE: KO), Wells Fargo (NYSE: WFC), American Express (NYSE: AMEX), and IBM (NYSE: IBM).
Buffett built up a big position in IBM, even though he’s been traditionally leery of tech stocks. This company has performed extremely well as of late, however, and Berkshire now owns 5.5% of shares outstanding. Jason likes the stock as well, and he walks us through the bullish case.

Warren Buffett invests in Illinois Supportive Living Facility close to Chicago (Chicago Now)
On April 12, Crain’s reports that: “Billionaire investor Warren Buffett has launched a venture to finance low-income housing projects, starting with a nearly $29 million center for seniors on Medicaid in the south suburbs.” Especially interesting to readers of this blog is that the project would be a supportive living facility. The Supportive Living Facility (SLF) program in Illinois is an exemplary Medicaid-waiver program which created 124 affordable assisted living facilities caring for approximately 12,000 residents. SLFs are, more or less, the equivalent of assisted living facilities (ALFs), with the chief differentiator being that SLF’s accept Medicaid as a payment source. ALF’s are wholly private pay.

Hedge Fund News: Philip Falcone, Soros, Icahn (Insider Monkey)