Star investor Warren Buffett is once again buying shares in a certain oil company. It delivers hefty profits – but this time his calculations only work if the situation in the Middle East becomes dicey.
He did it quietly, as he so often does: star investor Warren Buffett, also known as the Oracle of Omaha, is increasing his portfolio: in mid-January he stocked up again on shares in the oil company Occidental Petroleum. This is according to documents from the American Securities and Exchange Commission (SEC). In doing so, he increased his share in the company from just under 28 percent to 34 percent. A good third of the oil multinational now belongs to Buffett’s investment company Berkshire Hathaway. Some market observers were taken aback: in the midst of these times of upheaval, the old master is betting on oil?
Source: Stern
