Investing titan Warren Buffet told shareholders that he already invested $51 billion in the stock market this year, despite having complained recently that he had nowhere to put his money.
The Oracle of Omaha, speaking alongside his right-hand man Charlie Munger at Berkshire Hathaway’s first in-person shareholder meeting since the Covid-19 outbreak, said he spotted bargains in a number of stocks as they dropped in the early months of 2022.
Berkshire raised its stake in Chevron from $4.5 billion to $26 billion, making the company one of Berkshire’s top four holdings (the others are American Express, Apple, and Bank of America), and it also acquired a 14% stake in Occidental Petroleum.
The investment behemoth also took an 11% stake in computer maker HP and increased its position in video maker Activision, which is being bought by Microsoft, to 9.5%.
Over the first three months of 2022, Berkshire Hathaway also sold over $10 billion in stocks. Overall, the company’s cash on hand dropped from $147 billion to $106 billion.
(YWN World Headquarters – NYC)