Edward Lampert (Trades, Portfolio), a Warren Buffett (Trades, Portfolio) admirer, bought a stake in IBM (NYSE:IBM), Buffett’s fourth largest position, as its share price declined in the third quarter.
As founder and CEO of hedge fund ESL Investments, Lampert typically buys large positions in a few select companies and holds for long periods. His purchase of IBM consisted of 440,255 shares, translating to 4.07% of his portfolio.

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