Investing magnate and Berkshire Hathaway CEO Warren Buffett used his cash reserves in a big way over the third quarter, investing $23.9 billion, the biggest move for his company in at least 15 years. Could this signal an oversold market?
Berkshire's investments were filed on November 4; among the big moves were "$6.9 billion of equities, $5 billion for preferred shares and warrants in Bank of America and the acquisition of Lubrizol for about $9 billion," according to Bloomberg. Berkshire also disclosed new stakes in MasterCard (MA) and retailer Dollar General (DG), although Berkshire has not yet disclosed its full third-quarter stocks statement. "We're ready to buy lots of things," Buffett told Bloomberg Television's Betty Liu on Sept. 30. "If the stock is cheap, we will buy it."
Source: Motley Fool
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