Billionaire Warren Buffett Has Purchased $77 Billion of His Favorite Stock, Which Is More Than Double What He's Spent Buying Shares of Apple!
For nearly 60 years, Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) CEO Warren Buffett has been running circles around Wall Street's major stock indexes. Since ascending to the CEO chair in the mid-1960s, he's overseen an aggregate return of greater than 5,350,000% for Berkshire's Class A shares (BRK.A), as of the closing bell on July 18. This works out to an annualized return or nearly 20% over six decades.
Returns of this magnitude over such a lengthy time frame are virtually unheard of, which is why the "Oracle of Omaha" garners so much attention on Wall Street. Some 40,000 people flock to Omaha, NE, each year for a chance to hear Buffett speak about the U.S. economy, his investment philosophy, and the stocks he favors.
Berkshire Hathaway CEO Warren Buffett. Image source: The Motley Fool.
Source Fool.com