As part of a live, three-hour appearance on CNBC's Squawk Box this week, Warren Buffett revealed for the first time that he had bought $10.7 billion worth of IBM common stock this year for Berkshire Hathaway's portfolio.
Why did Buffett, who famously avoids technology companies, make such a big bet on Big Blue?
You can read his explanation in this downloadable PDF transcript of all three hours of Buffett's conversation with CNBC's Becky Quick, Joe Kernen, and Andrew Ross Sorkin. (The transcript has been previously posted here, divided into seven parts.)
They also covered many other topics, including Europe's debt crisis, the U.S. economy and housing market, taxes, MF Global, the 2012 presidential election, and the Occupy Wall Street movement.
Buffett"s bewildering "Harold" clue conversation runs starts on page 26. His explanation of why bought IBM runs from page 33 to 42 and picks up again on page 57 through 59.
Links to transcripts of previous CNBC live interviews with Buffett appear below the document.
Current Berkshire stock prices:
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