facebook
twitter
rss
account
search
search
 

Buffett spent $20B on stocks in quarter

Nov. 7, 2011 at 6:06 PM   |   Comments

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."

© 2011 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
Hershey's new logo launched, compared to emoji poop
2
The 'Home of the Whopper' to keep headquarters in U.S.
3
Canadian media must broadcast official emergency notifications
4
France receives upgraded aerial tanker
5
Kurds raise oil funds for refugees
Trending News
Video
x
Feedback