Warren Buffett Putting Cash to Work

$BRK.A, $BRK.B, $JPM, $ORCL, $TRV, $DIA, $SPY, $QQQ, $RUTX, $VXX

Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A & BRK.B) Wednesday said it had taken stakes in JPMorgan Chase & Co., Oracle Corp. and Travelers Cos., as the conglomerate puts some of its sidelined cash to work.

As of 30 September Berkshire owned about $4.02-B of stock in JPMorgan, the largest US bank by assets, where 1 of Mr. Buffett’s investment managers, Todd Combs, is a board member.

Berkshire said it also owned about $2.13-B of Oracle stock and $460-M of Travelers stock.

The holdings were disclosed in a regulatory filing detailing Berkshire’s US-listed stock investments as of 30 September.

Warren Buffett has praised the leadership of JPMorgan CEO  Jamie Dimon, and over the last year partnered with him and Amazon.com Inc CEO Jeff Bezos to create a new company aiming to cut US employee healthcare costs.

Atul Gawande, MD, a surgeon and critic of medical industry practices, was named in June to lead the venture.

Messrs Buffett, Combs and another portfolio manager, Ted Weschler, handle Berkshire’s investments.

While the filing did not say who bought which stocks, larger investments are normally made by Mr. Buffett, who often buys stock when he cannot find whole businesses to buy.

Wednesday, the major US stock market indexes finished at: DJIA -205.99 at 25080.50, NAS Comp -64.48 at 7136.60, S&P 500 -20.60 at 2701.72

Volume: Trade on the NYSE came in at 1.0-B/shares exchanged

  #AMZN, #Banks, #bearish, #Berkshire, #BRK.A, #BRK.B, #Buffett, #Buys, #cash, #cost, #DIA, #DJIA, #healthcare, #investments, #JPM, #ORCL, #QQQ, #RUTX, #SPY, #VXX

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