In an SEC Form 4 filing this evening, Berkshire Hathaway reported that it added $51 million to its stake in Phillips 66 (NYSE: PSX) on May 24, 25, and 26 at $79.10 – $79.97 per share. Berkshire Hathaway now owns 77 million shares of PSX, representing 14.6% of its outstanding shares. Berkshire’s PSX investment is valued at $6.2 billion at today’s closing price on the New York Stock Exchange of $80.04. Previously, Warren Buffett had disclosed that PSX was his investment and not that of his portfolio managers Todd Combs and Ted Weschler.
Should You Go All In On Water Like Michael Burry?
Water investments? Michael Burry was one of the first institutional investors to bet against the US subprime mortgage market in the mid-2000s, and today he’s concentrating all of his investment efforts on one commodity: water. Burry’s focus on water has attracted plenty of attention to the commodity in the investment community but trying to profit Read More