Warren Buffett’s Astute Moves Before Turning 93
As Warren Buffet celebrated his 93rd birthday, his conglomerate Berkshire Hathaway reached an all-time high thanks to his strategic moves in the past year. Known as the “Oracle of Omaha,” Buffett’s sharp mental acuity and investment prowess have impressed many as he navigated the market to achieve record operating earnings for Berkshire.
One significant move Buffett made was increasing his cash hoard to nearly $150 billion by the end of the second quarter. Unlike previous years where excess cash generated little return, Buffett earned a sizable return by purchasing short-term Treasury bills. He revealed buying $10 billion worth of 3-month and 6-month T-bills at weekly government auctions, with plans to roll over maturing bills by purchasing new ones.
Buffett also ramped up his stakes in Japanese trading houses and even traveled to Japan to meet with their leaders. Social Capital’s Chamath Palihapitiya praised Buffett’s move, calling him “the greatest of all time.” Additionally, Buffett continued to buy shares of Occidental Petroleum, now owning over 25% of the company, after its stock pulled back following a strong performance in the previous year.
In the homebuilding industry, Berkshire acquired stakes in D.R. Horton, NVR, and Lennar. While these holdings are relatively small, they could have been purchased by Buffett’s investment lieutenants who oversee billions in assets each. Furthermore, Buffett’s energy and utility division, Berkshire Hathaway Energy, agreed to purchase a 50% stake in the Cove Point liquefied natural gas facility for $3.3 billion in cash.
Buffett’s strategic investments and moves have positioned Berkshire Hathaway for success, with his sharp acumen and active engagement driving the conglomerate to new heights. As Buffett continues to navigate the market with precision, investors and onlookers eagerly await his next moves.
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