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By increasing shareholding in Occidental Petroleum, Buffett has contradicted one of his principles.
According to estimates from Barron's, reducing the shareholding in Apple caused Buffett to miss out on over $35 billion in earnings. Meanwhile, Occidental Petroleum and Sirius XM have both seen significant declines this year, with stock prices consistently below Berkshire's average buying cost. Buffett seems to be "pulling flowers and watering weeds."
Important signal? Buffett once again "sweeps up" Occidental Petroleum and three other companies.
Berkshire has purchased stocks worth over 0.56 billion dollars in the past three trading days.
Occidental Petroleum Rises After Berkshire Hathaway Raises Stake
Berkshire Hathaway Trades Above 50-Day SMA: What to Do With the Stock?
Buffett has taken action! Berkshire has heavily increased its Shareholding in three Stocks.
In the market slump, Berkshire spent hundreds of millions of dollars in a week to increase its shareholding in three companies.
Express News | US stock night trading: Occidental Petroleum rose over 3%, Sirius XM rose over 2%, with increased shareholding from Berkshire.