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Wish you bought into Warren Buffett's Berkshire Hathaway [BRK
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] before it was $130,000 per share? *
James Altucher, managing director at Formula Capital, told CNBC about three stocks that just may be "the next Berkshires."
If he's right, investors will want to make like the billionaire investor Buffett and buy'em fast -- while they're still low.
Recommendations:
Altucher's top pick: Pacific Northwest electricity supplier Otter Tail [OTTR
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More CNBC Investment Ideas: |
"They invest in medical, snack foods -- anything undervalued," the strategist said. Otter Tail has raised its dividend every year for the last 33 years.
And one more plus for the power company: its No. 2 shareholder happens to be Microsoft founder Bill Gates.
Next is insurer Markel [MKL
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], which is "like a mini-Berkshire," Altucher declared. The firm's portfolio has "regularly" returned 20 percent yearly, and its chief investment officer is "top quality."
"I almost think Markel could be a Berskhire acquisition target," he said.
Lastly, he praised Leucadia [LUK
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*(price at close on New York Stock Exchange, May 5, 2008)
Disclosure:
No disclosure information was immediately available for Altucher or his firm.
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