Why Buffett's Berkshire Took $3.7B Exxon Stake

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Nov. 15 (Bloomberg) -- Berkshire Hathaway reported a stake in Exxon Mobil valued at about $3.7 billion as Warren Buffett’s company disclosed its largest new holding since IBM in 2011. Julie Hyman reports on Bloomberg Television's "In The Loop." (Source: Bloomberg)

Bets into ibm.

Berkshire hathaway is one of the companies that comes out and says what their biggest holdings are.

Warren buffett disclosed a $3.7 billion stake in exxon mill -- mobile.

We know the buffett playbook.

Exxon has been an under performer.

He sees that as undervalued.

The shares were up about 8%. consider the s&p 500 energy index is up 23% and the s&p is up 26%. exxon is the most efficient in terms of how much it spends to extract oil.

His record on energy investment has been mixed.

The company also booked a charge related to a stake in conoco phillips in 2009. they cut that stake by 44% last quarter.

You had it led by dan loeb who is closely a taken a stake in fedex this week.

Part of this has to do with fred smith, who is the ceo of the company.

Loeb said he would not try to oust him.

That is a change in what he has done at several other companies.

Fred smith also has skin in the game.

He owns a good block of the fedex shares as well.

For those of us who do not follow these filings closely, we do not know why they are significant, explained why these are so revealing.

There are snapshot.

They show on the last day of a quarter what these various managers held.

It covers the quarter to quarter changes in the holdings.

It is filed by institutional investment managers.

It is required of total holdings to be worth at least 100 million dollars.

A does give us a little bit of insight into what these guys are doing.

Thank you, julie.

Julie hyman, our senior markets correspondent.

Gold may be encouraged by a couple of billionaires that have not given up on the precious metal.

Goldman up yesterday after janet yellen's operation hearing.

Why is -- while it is hard to make a case whether gold will go up or down, you have john paulson and george soros giving a lift to the gold budget.

According to a filing, he had 10

This text has been automatically generated. It may not be 100% accurate.


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