Warren Buffett Just Piled $29 Billion Into This Ultra-Safe Investment
Berkshire Hathaway's (NYSE: BRK.A) (NYSE: BRK.B) third-quarter earnings report revealed some interesting details about how Warren Buffett has managed its portfolio over the last three months.
The Oracle of Omaha continued to be a net seller of stocks in the third quarter. He sold off stakes in Hewlett Packard and Chevron, among others. That resulted in Berkshire's cash and cash equivalents position reaching a new all-time record of $157.2 billion.
But Buffett added $29 billion to his position in short-term U.S. Treasury bills last quarter, bringing his total investment to more than $126 billion. Buffett has long been against investing in long-term bonds, but his increased position in government bonds should pay him handsomely while he waits for a new buying opportunity to come along.
Source Fool.com
Berkshire Hathaway Inc. A Stock
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