Passive Income in a Bear Market? 1 Stock Warren Buffett Bought.
Warren Buffett has seen his share of bear markets over the years. Since the end of World War II, shortly after Buffett started investing, there have been 14 bear markets, with one occurring every 5.4 years, on average. That's given Buffett a lot of experience investing in them.
A theme we can see in the stocks Warren Buffett owns in the current bear market is that he favors companies that provide him with passive income through dividend payments. One of his top dividend stocks is oil-giant Chevron (NYSE: CVX), which he has continued to buy amid the bear market. Here's what makes Chevron such a great passive-income investment.
Warren Buffett's Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) has been buying shares of Chevron hand over fist in the past year. Berkshire purchased another 2.4 million shares of Chevron during the second quarter. It now holds over 163.5 million shares, about 8.4% of the company's total outstanding shares.
Source Fool.com
