Now that I got through the METaR Military Minefield (MMM) here are the Good News!
Buffett Is Back With One of His Biggest Buying Sprees in Years
The conglomerate made roughly $41 billion of net purchases in the first quarter, including a boost to its Chevron Corp. stake that vaulted the investment into Berkshire’s top four common stock holdings. Buffett also disclosed that the company now holds an expanded 9.5% stake in Activision Blizzard Inc. stock – an arbitrage bet on the video-game maker in the midst of being acquired by Microsoft Corp.
Berkshire hasn’t been this significant of a net buyer of common stocks in any quarter in data going back to 2008. Buffett’s flurry of activity in recent months fueled a number of questions from shareholders on Saturday at its first in-person annual meeting since 2019.
On the last day of March I bought ARKK to sell covered calls figuring we had hit bottom. I was a bit early but Buffett seems to agree with me. The bottom is nigh.