Warren Buffett Believes in This Investment Bank; Should You?
Coming into 2022, Berkshire Hathaway was sitting on its biggest cash pile on record. The conglomerate has used the bear market to snap up stocks, and one stock that Warren Buffett and his team added in the third quarter was the investment bank Jefferies Financial Group (NYSE: JEF).
Investment banking has faced an uphill challenge in the past year, but it didn't deter Buffett from investing. Jefferies exhibits traits in common with other Buffett stocks, including a dirt cheap valuation and a fortress balance sheet. Read on to find out why Jefferies is an ideal Buffett stock -- and whether it's right for you, too.
Jefferies Financial Group provides investment banking services to clients, helping them with mergers and acquisitions (M&A), going public through initial public offerings (IPOs), and issuing debt. The investment banking industry saw deal activity plummet last year following a record year of dealmaking in 2021.
Source Fool.com
