Buf­fett Bought $12b of Stock Since US Poll

Pur­chases of that mag­ni­tude rep­re­sent a ma­jor pickup in ac­tiv­ity for Ne­braska-based Berk­shire

The Economic Times - - Finance & Commodities -

Noah Buha­yar

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

AP

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