Behind Buffett's Biggest Stock Bet in Two Years

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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. Noah Buhayar reports on Bloomberg Television's "In The Loop." (Source: Bloomberg)

Joined by noah dwyer.

Noah, this is big.

We thought ibm was huge and now we have this.

This is the biggest stock investment that they have disclosed it about two years.

$4 billion or a little less than $4 billion for berkshire hathaway, at the end of the day, it is not that huge.

The ibm investment is over $10 billion.

Buffett always talks about these big foreign investments.

All of his other investments are valued up more than $10 million.

-- $10 billion.

It is up that scale.

It makes you wonder if it was only him or did tom combs or ted weschler have anything to do with thit.

This has warren buffett's fingerprints on it.

This is an investment that happened quickly.

A lot of it was added in the second quarter.

Berkshire requested confidential treatment.

We did not know about this back in august.

He added a little bit more in the third quarter.

Whitey think you would buy into energynow!? that is a great -= -- why do you think he would buy into energy now?

That is a great question.

He does not take macro concerns into play.

That is one thing that makes a lot of sense.

This is a company that was in his portfolio as recently as 2011. he invested into exxon corp.

Back in the 80's. he is familiar with this company.

You also wonder whether or not -- he has made other oil pets and they have not done that well for him.

It makes you wonder why is going back into energy and making that bet.

There are a couple of things with exxon -- they are the most efficient producer out there among the oil giants.

That may be attracting him.

The other thing i think needs to be said -- berkshire has a lot of cash.

If it needs to find a decent place to park the money.

-- buffett needs to find a decent place to park the money.

Maybe he saw some value there.

We will keep your eyes peeled on where else he may put his money.

In washington, it was smooth sailing for janet yellen during her confirmation hearing.

Could they still face some obstacles in the senate?

We're here with more on the reaction to the yellen hearing.

Was her confirmation a slamdunk?

Not yet.

We do not have anyone publicly committed to voting for her confirmation on the senate floor.

She needs at least five of them.

There was no indication yesterday's hearing that republicans are spoiling for a big fight.

They were cordial to yellen even though some of them disagree with her in terms of policy.

More specifically, when it comes to quantitative easing.

One of those senators, he spoke with us afterwards.

I have not made my final

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

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