Hedge-fund manager Whitney Tilson plugged Warren Buffett's Berkshire Hathaway as a stock pick, in a Wednesday CNBC segment. Tilson is one of the "Patriotic Millionaires," a group of wealthy people who appeared in an April photo-op with President Obama to promote the Buffett Rule.
WHITNEY TILSON: If I can throw in my next great stock pick is Berkshire Hathaway reports earnings on Friday. We think they are going to be blow out earnings and you got the annual meeting on Saturday. So that’s our largest position by far.
Tilson’s T2 Partners hedge fund, which oversees more than $262 million, holds sizeable positions in the big banks that were bailed out with taxpayer funds in 2008 under the Troubled Asset Relief Program (TARP).
According to the most recent filing with the Securities and Exchange Commission, Tilson’s fund owns a combined $42.8 million worth of stock in Bank of America, Citigroup, Goldman Sachs, JP Morgan Chase, and Wells Fargo, all of which received tens of billions in taxpayer dollars through TARP.