What Buffett is buying and selling now
While spooked retail investors have abandoned the market in droves, the boss of Berkshire Hathaway Inc has been snapping up under-valued stocks. To fund the snapping-up, Buffett has been building up Berkshire's war chest — mostly by unloading stakes in several companies. Granted, the Oracle did tell shareholders in 2009 that “I have pledged to you, the rating agencies and myself to always run Berkshire with more than ample cash.”
But $28 billion (Berkshire's cash stack as of June 30) probably qualifies as ample – and then some. In fact, Buffett's got plenty of capital to pick up stock-market bargains while other investors head for the hills. “He tends to buy when others are selling, and sell when others are buying,” said Bill Bergman, an analyst at Morningstar Inc. in Chicago.
Here's what the Oracle has been buying and selling of late.
(Text by InvestmentNews and Bloomberg News/Photo: Bloomberg)