Greg Abel Made Major Additions to Alphabet and Delta Last Quarter While Berkshire Bought Back $4.4 Billion of Its Own Stock. Is This a Buying Signal Investors Should Watch?
When Warren Buffett stepped down as CEO of Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB), there were a lot of eyes on his successor, Greg Abel. Would Buffett’s replacement follow the Oracle of Omaha’s approach to buying stocks?
Less than a year into Abel’s tenure, we’re getting an answer. Berkshire went on a buying spree during the second quarter, adding to its positions in Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) and Delta Air Lines (NYSE: DAL). And another purchase stood out — $4.5 billion of Berkshire Hathaway’s own stock.
Here’s what that means for investors.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.