Warren Buffett Putting Cash to Work

Warren Buffett Putting Cash to Work

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

  • NAS Comp +3.4% YTD
  • DJIA +1.5% YTD
  • S&P 500 +1.1% YTD
  • Russell 2000 -2.2% YTD

HeffX-LTN’s US Major Stock Market Indexes Technical Analysis

Date Symbol Price Technical Analysis Support Resistance
14 November 2018 QQQ 166.23 Bearish (-0.34) 162.80 169.57
14 November 2018 DIA 250.80 Neutral (-0.16) 250.31 251.54
14 November 2018 SPY 274.17 Bearish (-0.43) 272.17 274.72

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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