Back In December, Why Did Warren Buffett Buy KMI At Its Lowest Point In Nearly Five Years? -- July 19, 2016

Active rigs:

	7/19/2016	07/19/2015	07/19/2014	07/19/2012	07/19/2011
Active Rigs	30	73	195	207	182

RBN Energy: update on the Jones Act and oversupply of tankers.

KMI: 24/7 Wall Street has a nice piece on KMI today.

Last December when Kinder Morgan Inc. sliced 75% off its quarterly dividend, the stock price plummeted, dropping nearly 50% before beginning to make a comeback. Shares closed Friday at about 10% below the closing price on November 30, 2015.

We noted in an earlier story that Berkshire Hathaway Inc. bought 26.5 million shares of Kinder Morgan stock in last December (2015) at a price somewhere below $15 a share.

At Friday’s closing price, that’s a profit of some 40% for Warren Buffett’s conglomerate.

Why did Berkshire buy at what was arguably Kinder Morgan’s lowest point in nearly five years?

Ah yes, why did Berkshire buy at what was arguably KMI's lowest point in nearly five years? I think they have the crystal ball.