Buffett Bought Back His Own Stock While Selling Others
- Berkshire has record $5.1 billion in share repurchases
- Company’s $13 billion of net equity sales was highest in years
Warren Buffett
Photographer: Chris Goodney/Bloomberg
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Shares of Berkshire Hathaway Inc. were left out of the stock market rally in the second quarter. Warren Buffett clearly thought the disconnect wasn’t warranted.
The famed investor spent a record $5.1 billion buying back Berkshire’s own stock in the second quarter, more than double the amount he’d ever purchased before. That came as he unloaded almost $13 billion of other companies’ shares, including airline stocks and some financials, in what was his biggest selling quarter in more than a decade.