After accumulating a significant cash reserve in 2024, Warren Buffett's Berkshire Hathaway invested $563 million in Occidental Petroleum, Sirius XM, and VeriSign. These investments, disclosed due to Berkshire's existing holdings exceeding 10% in each company, mark a shift from Buffett's recent divestments and signal his confidence in these undervalued stocks.
Warren Buffett has bought stakes in three companies, after hoarding cash for most of 2024. The 94-year-old investor's company Berkshire Hathaway had a cash stockpile of $325 billion at the end of the third quarter of 2024. But recently, Berkshire and Buffett scooped up $563 million of stock in Occidental Petroleum, Sirius XM and VeriSign, according to The Motley Fool. Berkshire had to disclose these purchases as it already holds more than a 10 percent stake in each company.
The company purchased roughly $405 million-worth of stock in domestic oil company Occidental Petroleum, around $113 million in broadcasting corporation Sirius XM, and about $45 million in VeriSign, which is a provider of domain name registry services. None of these stocks had performed well this year, despite the wider market being up close to 26 percent, but Occidental Petroleum and VeriSign jumped on the news of Berkshire's purchase. It comes after Wall Street watchers had questioned whether Buffett thought the market was overvalued, as he sold billions in Apple and Bank of America stock and his cash reserve swelled to the highest percentage since 1990. Some thought he may be wary of a stock market crash, while others thought he could be waiting to make a major acquisition at the right time and with the right value. Warren Buffett has bought stakes in three companies, after hoarding cash for most of 2024 The three stocks are classic value plays that Buffett and Berkshire have had a propensity to own, often with much success, The Motley Fool reported. Buffett, and his late business partner Charlie Munger, have always been focused on holding stocks over a long period of time - rather than trying to time the market. Occidental Petroleum has struggled due to falling oil prices and a bleak outlook for oil in 202
WARREN BUFFETT BERKSHIRE HATHAWAY INVESTMENTS STOCK MARKET VALUE INVESTING
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Storm-hit Russian petroleum tankers trigger fears of fuel spills in Black SeaOne vessel’s prow breaks off and another craft runs aground in Kerch Strait off Crimea
Read more »
Horsham: Billingshurst liquid petroleum storage unit approvedThe two cylinders, which are already on site, will be used to store 49 tonnes of liquid petroleum.
Read more »
Tyson Fury fights Oleksandr Usyk to be 'the best of his generation', says promoter Frank WarrenTyson Fury is fighting for his place in boxing history when he rematches Oleksandr Usyk next month.
Read more »
Retired boxer Warren Richards cooking up a storm in EssexWarren Richards runs two cafés in Essex and London after an eye injury forced him to retire.
Read more »
Donald Trump nominates billionaire investment banker Warren Stephens to be US ambassador to UKMr Stephens is a longtime Republican donor who reportedly gave to conservative groups that opposed Trump in 2016 but then supported him in the 2020 and 2024 races.
Read more »
Donald Trump picks investment banker Warren Stephens to be US ambassador to the UKDonald Trump has nominated billionaire investment banker Warren Stephens to be his ambassador to the UK.
Read more »