Warren Buffet It came from a few months of little activity, but March has achieved some agreements that have surprised the market. At a time when doubt and uncertainty leave investors on standby until the political and economic outlook is cleared up. What do you want to tell us? not responding Brian Sozzi on Yahoo Finance.
Warren Buffett came out of hibernation in March to make some amazing deals, sending a clear signal to investors across the board. Baird Strategy, Michael Antonelli.
“Buffett is doing Buffett stuff. I think it reminds me and should remind everyone that the world keeps turning. Companies keep planning for the future and they keep doing the things that make them great companies,” Antonelli said on Yahoo Finance Live.
In fact, Buffett’s brain seems to be spinning right now.
The 91-year-old billionaire investor revealed Monday that his Berkshire Hathaway will spend $11.6 million compare insurance company aleghany. The deal will expand Buffett’s insurance empire beyond auto insurance player Geico and reinsurance beast Gen Re.
“Berkshire sees permanent perfection in Alleghany, which is why it is seen to last 60 years,” Buffett said in a statement.
Alleghany earned more than $12 billion in sales last year and $1.1 billion in net earnings.
Alleghany shares are shot up and 25% off with the notice. The stock was among the top three trend tickers on Yahoo Finance.
But it wasn’t his only play
While diving into the Insurance space, Buffett has also gone shopping for energy names amid soaring crude oil prices in the wake of the Russia-Ukraine crisis.
Buffett was made with others 18.1 million shares of Occidental Petroleum for nearly $1 billion last week. The latest purchases come on the heels of Berkshire spending a few $6 billion in the previous two weeks to buy shares of Occidental.
Berkshire now owns nearly the 14.6% of Occidental Petroleum through its approximately 140 million shares.
“What these agreements tell me is that the animal spirits are still alive,” Antonelli added.