2 Bank Stocks Warren Buffett's Berkshire Hathaway Has Been Buying
Stock market investors looked prepared for major indexes to open flat to slightly lower on Wall Street Tuesday morning. Many eyes are on Washington, where negotiations to raise the debt ceiling remain contentious and tense. That's causing consternation among investors who want more certainty in an already difficult macroeconomic environment.
Despite the choppy market action, investors remain interested in what some of their favorite investing gurus are doing. Warren Buffett has been the object of attention for millions of investors for decades, and the latest release of holdings of his Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) included purchases of a pair of bank stocks. Below, you'll learn more about why Buffett might have chosen Capital One Financial (NYSE: COF) and Bank of America (NYSE: BAC) as his favorite banks right now.
Shares of Capital One Financial were up more than 6% in premarket trading on Tuesday morning. Berkshire Hathaway's 13-F filing with the U.S. Securities and Exchange Commission revealed that the insurance giant had taken an initial position in the bank of 9.92 million shares, worth roughly $954 million at recent prices. That represents a stake of about 2.6% in Capital One, although it only represents about 0.3% of the money that Buffett has committed to individual publicly traded stocks within Berkshire's corporate empire.
Source Fool.com
Berkshire Hathaway Inc. A Stock
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