why i don't hold cer, page-34

Buffet, being out of this stock means you might miss another 30% rise in the blink of an eye given an announcement is due anytime now.
Very high possibility that you have sold too soon this week.
If announcement is for no dividend, then annual results will confirm a better balance sheet anyway.
With credit markets thawing these stocks can be re-rated by the market very quickly at this point of the business cycle.
My guess is that CNP will be leaning on CER for some cash very soon.