Buffet or Buffett which one would you choose to invest with? Does an additional T in your name matter?*
A firm that bears no relationship to Berkshire Hathaway filed offering with the SEC last month.
The Buffet that’s short one ‘t’ is the moniker of a new private placement connected to a stockbroker and investment adviser based in Boca Raton, Fla., named Peter Bruno.
According to Mr. Bruno’s website, he is chief executive of Wall Street Money Management Group Inc., a registered investment advisory firm. According to filings with the SEC, the firm has $17.1 million in assets under management and 122 client accounts. At the end of September, Berkshire Hathaway reported assets of $385.5 billion.
It would seem clear that the Buffet name is being used to cash in on the Buffett record and confuse consumers. Could there be any other explanation?
*Original article by Bruce Kelly, December 2, 2011.
Edi Alvarez, CFP®
BS, BEd, MS