Cramer's Stop Trading! It Is a Shame This Happened to Warren Buffett (3/31/11)

Includes: BRK.A, BRK.B
by: Miriam Metzinger

Stocks discussed on Jim Cramer's Stop Trading! TV Segment, Thursday March 31.

Berkshire Hathaway (NYSE:BRK.A), (NYSE:BRK.B)

In the wake of the scandal over Berkshire Hathaway (BRK.A, BRK.B) and David Sokol's alleged insider trading practices, Cramer is amazed at the indifference of the SEC. "This is a publicly traded company...there are rules." However, an SEC official said in an interview that the Sokol story was not important. If there is any significant investigation into the matter, "They will have to send Warren Buffett an apology for bothering him," Cramer said.

While what Sokol did might not have been illegal and Warren Buffett was not involved, "Sokol made Buffett look bad, and that is terrible." Now that the revered investor's company is tainted with scandal, many Americans will become even more convinced that the market is rigged and it isn't worth playing the game. "It is a shame this happened to Warren Buffett."


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