Buffett’s Berkshire Hathaway bets billions on Verizon and Chevron

Billionaire Warren Buffett added two more great American brands to Berkshire Hathaway Inc.’s investment portfolio.

Buffett’s conglomerate has bought $ 8.6 billion in shares of Verizon Communications Inc., the largest mobile phone operator in the United States, and $ 4.1 billion in oil company Chevron Corp., according to a snapshot from investments made in the quarter ended December 31.

It is unclear from a presentation whether Mr. Buffett made the decision to invest in the two firms or whether the decision was made by Berkshire fund managers Todd Combs and Ted Weschler. The two are expected to take over all of Berkshire’s investments once Buffett is no longer in the lead role.

In the early months of the pandemic, Buffett, 90, said he was optimistic that the US economy would eventually recover from the Covid-19 confusion.

“You can bet on the United States, but you have to be careful how you bet,” Buffett said in May. “Simply because markets can do anything.”


Source link