Buffett Bought $12b of Stock Since US Poll
Purchases of that magnitude represent a major pickup in activity for Nebraska-based Berkshire
New York: Warren Buffett added to his stock portfolio at Berkshire Hathaway in a big way after November 8. “We’ve, net, bought $12 billion of common stocks since the election,” he said in an interview with Charlie Rose that aired on Friday. Buffett didn’t identify the securities that he picked.
Purchases of that magnitude represent a major pickup in activity for Omaha, Nebraskabased Berkshire. During the first nine months of last year, the company bought $5.2 billion and sold or redeemed roughly $20 billion worth of stocks, according to a regulatory filing. In 2015, Berkshire bought about $10 billion of equity securities.
Stocks rallied after Donald Trump was elected US president in November, as investors speculated that the Republican’s policies will stimulate the economy. That sentiment cooled some on Monday after the turbulent rollout of an immigration order raised concern that the new administration may follow through with isolationist policies, overshadowing a pro-growth agenda.
Buffett told that he was skeptical that the US could increase output at a 4% annual clip, as the president has said he’s aiming to achieve. — Bloomberg
SOURCE: PTI; GRAPHIC: GEETANJALI