facebook
twitter
search
search

Buffett spent $20B on stocks in quarter

Nov. 7, 2011 at 6:06 PM

NEW YORK, Nov. 7 (UPI) -- Warren Buffett considered the third quarter a good time to go shopping for stocks, a Berkshire Hathaway regulatory filing revealed.

In July, August and September, Buffett's investment firm bought $20 billion in stocks, a significant increase from the second quarter, when Berkshire Hathaway bought $3.6 billion in stocks and the first quarter, when the firm spent $1 billion, CNNMoney reported Monday.

Buffett's biggest shopping day for the third quarter was the first day of trading after Standard & Poor's cut the U.S. credit rating, for the first time ever, from a triple A rating to AA+.

The S&P 500 index dropped more than 6 percent, which Buffett said later was "like buying on sale."

Latest Headlines
Top Stories
Radiation protection vest being investigated for use in space
Canada buying radar from Rheinmetall Canada and Elta Systems
Chevron aims at cost reductions of $1 billion
Navy researches use of transparent material as armor
Harris enhancing targeting capabilities Navy aircraft