In an SEC Form 4 filing after the market closed on September 19, Berkshire Hathaway (NYSE: BRK.A, BRK.B) reported that it added $1.4 million to its stake in Phillips 66 (NYSE: PSX) on September 15 at an average price of $77.53 per share. Berkshire Hathaway now owns 80.7 million shares of PSX, representing 15.4% of its outstanding shares. Berkshire’s PSX investment is valued at $6.5 billion at the September 19 closing price on the New York Stock Exchange of $80.35. Previously, Warren Buffett had disclosed that PSX was his investment and not that of his portfolio managers Todd Combs and Ted Weschler.
Abacab Fund Sees Mispricing In Options As Black-Scholes Has Become “Inadequate”
Abacab Asset Management's flagship investment fund, the Abacab Fund, had a "very strong" 2020, returning 25.9% net, that's according to a copy of the firm's year-end letter to investors, which ValueWalk has been able to review. Commenting on the investment environment last year, the fund manager noted that, due to the accelerated adoption of many Read More
