Well Ted Warren Buffet doesn't agree and I think he's a pretty good investor.
in fact Warren is down 40% in his investment which makes getting 9in now maybe a good idea.
. WHEN YOU BUY ALLY YOU BUY INTO CAR FINANCING. CAR MARKET REMAINS HOT I THNIK/
Ally Financial Inc. (NYSE:ALLY)
Berkshire Hathaway’s Equity Stake in Q3 2023: $773.72 Million
Stock Gain since Buffett Investment: -42%
Number of Hedge Fund Holders: 43
Buffett turned to Ally Financial Inc. (NYSE:ALLY) early last year to gain exposure in the financial services sector as the overall market remained under pressure. The company provides digital finance products and services to various customers.
Buffett acquired stakes worth $389.99 million in Ally Financial Inc. (NYSE:ALLY) in the first quarter of last year and has continued to buy and sell ever since. Through Berkshire Hathaway, the legendary investor held stakes worth
$773.72 million as of Q3 2023, accounting for 0.24% of the portfolio. While Ally Financial Inc. (NYSE:ALLY) is down by 42% since Buffett made the first investment, it is a solid play for passive income as it pays a 4.43% dividend yield.
In its Q1 2023 investor
letter, Silver Beech Capital discussed its views on Ally Financial Inc. (NYSE:ALLY):
“Ally Financial Inc. (NYSE:ALLY) is the
largest all-digital bank in the United States, the 22nd largest bank by total assets ($192 billion),
the nation’s leading prime auto lender (with 6.5 million consumer customers),
and leading auto floorplan lender (with over 23,000 dealer relationships). Most of Ally’s assets are auto loans and finance receivables, but Ally also offers consumer protection insurance through its dealer channels and operates small corporate and mortgage lending businesses. Notably, Ally also offers some of the industry’s most competitive deposit products: Ally was awarded “Best Checking Account”, “Best Saving Account”, and overall “Best Online Bank” by third party reviews and was the first large bank to eliminate overdraft fees. We believe Ally’s intrinsic value is more than 40% greater than its March 31 share price…”