Want Some Buffett? Not This Way, Fans

摘要

Low-priced merchandise isn't necessarily cheap. Consider, if you will, the "Strategic Asset Securities" that Wachovia Securities is touting as a low-priced way to buy a piece of legendary investor Warren Buffett. The Sage of Omaha, of course, runs the Berkshire Hathaway conglomerate, whose famously expensive A shares cost about $90,000 each, and whose Baby Berkshire B shares cost about $3,000. Sometime soon, possibly this week, Wachovia is scheduled to offer Berkshire-linked securities in mere $15 pieces. My advice: steer clear. They're low-priced, but they're sure not cheap. They're festooned with fees, including total commissions projected at a whopping 11 percent, of which 8 percent goes to your brokerage house.