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."

Related UPI Stories
Latest Headlines
Trending Stories
Nobel Prize in Chemistry awarded to DNA cell repair pioneers
Priest suspended after defending pedophilia in TV interview
U.S. asks how Islamic State militants got so many Toyotas
At least 17 dead in Carolinas, more flooding expected
NASA releases thousands of Apollo mission photos on Flickr