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Betting On Trump Buffett Bought $12 Billion In Stocks Since The Election - Duration: 3:17.
Betting On Trump Buffett Bought $12 Billion In Stocks Since The Election.
by Tyler Durden.
Count one of Hillary Clinton's biggest financial backers, billionaire Warren Buffet, among
the biggest fans of the "Trump rally."
In an interview with Charlie Rose recorded on Friday, Warren Buffett said that since
the election day, Berkshire Hathaway bought $12 billion in stock.
This was a change in strategy for Buffett, who as it turns out was a net seller in the
first nine days of the month, when Hillary seemed like a guaranteed winner in the November
election, one which Buffett was selling into.
�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.
As of Sept. 30, Berkshire had an equity portfolio valued at $102.5 billion.
Purchases of that magnitude represent a major pickup in activity for Omaha, Nebraska-based
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
For now, Buffett's bet has proven wise: stocks have rallied since the Trump victory as investors
speculated that the Republican�s policies will stimulate the economy.
However, in recent days gains have been pared as the Trumpflation rally is rapidly cooling.
On Monday, after the turbulent rollout of an immigration order raised concern that the
new administration may follow through with isolationist policies, stocks plunged by the
most in 2017.
Buffett also told Rose he was skeptical that the U.S. could increase output at a 4 percent
annual clip, as the president has said he�s aiming to achieve.
�That�s pretty high,� Buffett said.
�Two percent will produce miracles.�
Some more details:
Rose asked if Buffett�s most-recent purchases included airlines.
Buffett ducked the question, saying only that Berkshire held stakes in airlines as of Sept.
30.
In November, Berkshire disclosed that it held in American Airlines Group Inc., Delta Air
Lines Inc., and United Continental Holdings Inc. at the end of the third quarter.
The billionaire said that month that Berkshire also bought a stake in Southwest Airlines
Co. since Sept. 30.
Buffett told Rose he wouldn�t get into why Berkshire bought the shares, but said that
it was �in large part� his decision.
Previously Buffett said he�s confident in the U.S. economy�s long-term prospects no
matter who wins an individual election, although he had a clear preference for Hillary winning.
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দেখুন ভারতের বিপক্ষে টেস্টে ১৫ সদস্যের বাংলাদেশ দল ঘোষণা-- Cricket news - Duration: 1:10.
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