Gillian Tan (for Info only, not official)

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Gillian Tan

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    ...The $24 billion issuer of private-label and other credit cards saw its stock surge more than 6% in after-hours trading on Monday after a Berkshire filing revealed that the conglomerate is now a top 10 shareholder, with a stake of roughly 2.2%. It’s unclear if Buffett himself or one of his two lieutenants (Todd Combs or Ted Weschler) sniffed out Synchrony, but there are a couple of immediate explanations for the Berkshire position. The first? Nobody in Omaha must be losing sleep about worsening trends in consumer credit, which my colleague Lisa Abramowicz has rightly noted could lead to losses but is unlikely to cause a 2008-style meltdown. The Synchrony investment pairs with Berkshire’s commitment to its longtime American Express Co. stake., which has grown to roughly 17.2%. ...

    Live Mint on Aug. 15, 2017, 1:22 p.m.