BUFFETT’s BIG MOVE!
Warren Buffett buys $51bn worth of stocks in the first quarter amid general market weakness.
Berkshire Hathaway announced ahead of its annual meeting on Saturday that it bought more than $51 billion worth of shares in the first quarter. Excluding share sales during the quarter, Berkshire increased its stock holdings by $41 billion. In the first quarter, Berkshire also bought insurance giant Alleghany for $11.7 billion, its largest acquisition since 2016. Berkshire ended the quarter with $106 billion of cash on its balance sheet, its lowest level since Q3 2018.
One of Buffett’s most famous quotes encourages investors to be fearful when others are greedy and greedy when others are fearful. Perhaps investors can take comfort in the fact that Buffett followed his own advice and invested in equities in one of the most difficult environments in a long time.
Currently, Buffett’s BIG MOVE is expected to bring some confidence to the market, and there’s the DJI!