3 Stocks Warren Buffett Bought in the Last Big Recession -- Are They Buys Now?
Some economists predict that a recession is likely to start in 2022. If so, there's probably at least one person who would view it as an opportunity -- Warren Buffett. The multibillionaire chairman and CEO of Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) has often spoken favorably about buying stocks during periods of uncertainty.
Buffett didn't go on a huge buying spree during the brief recession in 2020 triggered by the start of the coronavirus pandemic. However, the Great Recession that began in late 2007 and extended through mid-2009 was a different story. Let's examine three stocks that he bought heavily during that recession, and consider whether or not they are good picks to buy now.
In late 2007, Buffett led Berkshire Hathaway to scoop up shares of Kraft Foods -- years before that company merged with H.J. Heinz to create food products giant Kraft Heinz (NASDAQ: KHC). And there was a lot of scooping: Kraft immediately became Berkshire's seventh-largest holding. By the end of 2008, it was the conglomerate's fourth-largest holding.
Source Fool.com
