Damn, Warren Buffett likes stocks again – that’s what he’s buying

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Warren Buffett is a living and breathing billionaire, but he is also an important economic indicator. So after his Berkshire Hathaway Inc. dumped nearly $ 13 billion worth of shares in the throes of the COVID-19 crisis, investors were beside themselves. Now they will be quite relieved to see that his company is back in buy mode, making the largest outlay on stock purchases in a year.

And it’s not just making extravagant bets, like Japanese trading houses and, damn, gold. A statement on Monday showed that Berkshire Hathaway has recently acquired a handful of U.S. pharmaceutical giants: AbbVie Inc., Bristol-Myers Squibb Co., Merck & Co., and Pfizer Inc. Inc., the wireless carrier with the most enviable spectrum position heading towards 5G, and Snowflake Inc., one of the hottest tech IPOs of the year. They are part of the net $ 4.8 billion Berkshire spent on stock purchases during the period; it spent an additional $ 9 billion to buy its stock.