The Energy Sector Is Off to a Sizzling Start in 2024. This Stock Is the Only Existing Position That Warren Buffett Added To During the First Quarter.
The stock market has gotten off to a red-hot start this year. The technology-heavy Nasdaq Composite is up 11% so far in 2024, fueled by hype in artificial intelligence (AI). Moreover, the S 500 has also gained close to 11% -- signaling an overall strong profile among broader market sectors.
In particular, the energy industry has performed well so far this year -- and Berkshire Hathaway CEO Warren Buffett has taken note. According to Berkshire's latest 13F filing, Buffett only added to one existing position during the first quarter of 2024.
The Oracle of Omaha scooped up 4.3 million shares of oil and gas conglomerate Occidental Petroleum (NYSE: OXY). Should you follow Buffett's lead? Let's find out.
Source Fool.com