Thursday , April 22 2021

The new risky venture on "Oracle of Omaha": What is the money for Warren Buffett, the third richest man in the world

Business International

The new risky venture on

Berkshire Hathaway, the company with various affiliates in insurance, construction, furniture and transportation of billionaire Warren Buffett, was acquired on September 30 36 million shares in JPMorgan, valued at approximately $ 4 billion. At the same time, it has increased its share in Apple's producer to $ 57 million with the 522,902 new shares, according to the Securities and Exchange Commission files, as MarketWatch quoted.

Surprisingly, these two acquisitions came, on the one hand, due to the fall in Apple's shares by 2.8% at the close of Wednesday's trading session and, on the other hand, in the light of the negative outlook for the banking sector arising from increases in core interest rates. JPMorgan shares fell by 2.1%, but are expected to continue with 4% profit throughout the year and ranked bank giant among the best artists.

These are not the only surprising investments that Buffett has invested in. The company contributed 5.1 million shares to Goldman Sachs Group – a bank involved in a Malaysian investment fund scandal that affected its shares – reaching a $ 4 million share. Instead, the tycoon company shrunk its holding in Wells Fargo with 9.6 million shares.

At the end of September, Berkshire bought a new stake in Oracle, 41.4 million shares for $ 2 billion.

Berkshire Hathaway's Class A and Class B shares have so far increased by 9% this year compared to an annual 1.5% increase for Dow Jones Industrial Average and 1.1% for S & P 500 to be in 2018, according to FactSet data . The Nasdaq Composite Composite Index rose 3.4%.

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