Billionaire Warren Buffett has two more major U.S. brands in the investment portfolio of Berkshire Hathaway Inc. added.
Mr. Buffett’s conglomerate bought $ 8.6 billion in stock from Verizon Communications Inc., the largest U.S. mobile service provider, and $ 4.1 billion from oil company Chevron Corp. according to a screenshot of the investments held in the quarter ended December 31st.
This is not clear in any documentation or Mr. Buffett made the decision to invest in the two businesses or that the decision was made by Berkshire money managers Todd Combs and Ted Weschler. It is expected that the two will take over all of Berkshire’s investments as soon as Mr. Buffett is no longer in the top job.
In the first months of the pandemic, the 90-year-old Buffett said he was optimistic that the U.S. economy would eventually recover from the Covid-19 turmoil.
“You can bet on America, but you have to be careful how you bet,” he said. Buffett said in May. “Just because markets can do anything.”