A Stock That Berkshire Hathaway Has Piled Into and That Wall Street Rates a "Sell' Is Beating the Market. Is Warren Buffett Starting to Make His Move?
If you doubted the genius of Warren Buffett and his company Berkshire Hathaway in 2024, you certainly aren't doubting it now. While investors continued to pour into stocks last year and take advantage of frothy market conditions, Buffett and his team remained patient and cautious, buying very few stocks and hoarding cash. This year, the broader market benchmark S&P 500 index is down over 3% (as of March 27), while Berkshire's stock has rocketed nearly 18%, as investors appear to view the company's diversity of businesses, massive cash pile, and experienced management team as the place to be when uncertainty clouds the market.Last year, Berkshire piled into a stock that has not only struggled immensely, but that the majority of Wall Street analysts are telling investors to sell. That stock is now soundly beating the market so far this year. Is Buffett starting to make his move?Berkshire first gained exposure to the large digital audio company Sirius XM (NASDAQ: SIRI) when it bought shares tracking Liberty Media in 2016. In early 2024, Berkshire purchased shares tracking Sirius ahead of the company's split from Liberty and then reverse stock split in September 2024. Since this move, Berkshire has continued to increase its position.Continue reading
If you doubted the genius of Warren Buffett and his company Berkshire Hathaway in 2024, you certainly aren't doubting it now. While investors continued to pour into stocks last year and take advantage of frothy market conditions, Buffett and his team remained patient and cautious, buying very few stocks and hoarding cash. This year, the broader market benchmark S&P 500 index is down over 3% (as of March 27), while Berkshire's stock has rocketed nearly 18%, as investors appear to view the company's diversity of businesses, massive cash pile, and experienced management team as the place to be when uncertainty clouds the market.
Last year, Berkshire piled into a stock that has not only struggled immensely, but that the majority of Wall Street analysts are telling investors to sell. That stock is now soundly beating the market so far this year. Is Buffett starting to make his move?
Berkshire first gained exposure to the large digital audio company Sirius XM (NASDAQ: SIRI) when it bought shares tracking Liberty Media in 2016. In early 2024, Berkshire purchased shares tracking Sirius ahead of the company's split from Liberty and then reverse stock split in September 2024. Since this move, Berkshire has continued to increase its position.
