Warren Buffett Just Got $3 Billion Deeper Into Energy Stocks. Is This Sector Hiding in Plain Sight?
Warren Buffett is again doing one of the things he does best: going against the crowd. The billionaire investor and his holding company Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) just increased their investment in energy stocks by $3 billion. That jump came through the purchase of a controlling stake in a liquified natural gas (LNG) facility.
The move comes at a time when energy stocks are underperforming the general market. In fact, in the first half of the year, energy stocks (down 5.1%) were among the three worst-performing sectors in the S 500 (utilities were down 6.6% and healthcare was down 4.4%). By comparison, the benchmark index overall rallied 15% so far in 2023.
Let's find out more about Buffett's investment in the underperforming energy sector and see if his strategy could work for you, too.
Source Fool.com
Berkshire Hathaway Inc. A Stock
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