Warren Buffett’s Berkshire Hathaway (BRK-A, BRK-B) just revealed its recent stock moves and the “Oracle of Omaha” is making a big bet on financials.
During the third quarter, Berkshire Hathaway snapped up a new position in JPMorgan Chase (JPM) of 35.6 million shares, making it the 10th largest stock holding.
It’s notable because the 88-year-old investor has publicly praised JPMorgan’s CEO Jamie Dimon for years, but had not owned the stock. A huge fan of Dimon’s annual letter, Buffett told Yahoo Finance’s editor-in-chief earlier this year that he made a “mistake” not investing in the bank’s stock.
“I should’ve ,” Buffett said at the time. “Very obviously. I mean, it’s been a terrifically run operation. And it was very cheap, just like a number of others were.”
During the third quarter, Berkshire Hathaway snapped up a new position in JPMorgan Chase (JPM) of 35.6 million shares, making it the 10th largest stock holding.
It’s notable because the 88-year-old investor has publicly praised JPMorgan’s CEO Jamie Dimon for years, but had not owned the stock. A huge fan of Dimon’s annual letter, Buffett told Yahoo Finance’s editor-in-chief earlier this year that he made a “mistake” not investing in the bank’s stock.
“I should’ve ,” Buffett said at the time. “Very obviously. I mean, it’s been a terrifically run operation. And it was very cheap, just like a number of others were.”