Will Warren Buffett Buy the Dip on Bank Stocks?
Multiple media outlets reported this week that legendary investor Warren Buffett was in discussions with senior officials of the Biden administration to provide advice and potentially discuss making an investment in some bank stocks. Buffett and his holding company Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) are longtime bank investors and know the banking sector extremely well.
In fact, Berkshire actually owned and operated a bank for several years in the 1970s before selling it over changes in banking regulations. Since then it has owned stock in several banks, most notably Bank of America (NYSE: BAC).
After the collapse of three U.S. banks in a matter of days, which triggered a broad sell-off in the sector, will the Oracle of Omaha buy the dip in bank stocks? Let's take a look.
Source Fool.com
