|Day's range||13.95 - 14.10|
Yahoo Finance Live anchors Julie Hyman and Brad Smith break down the rise in stock for Occidental Petroleum following the purchase of more stock by Warren Buffett's Berkshire Hathaway.
Few investors have a knack for making money on Wall Street quite like Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) CEO Warren Buffett. On an aggregate return basis, the 3,787,464% gain for Berkshire Hathaway's Class A shares (BRK.A), through Dec. 31, 2022, is 153 times better than the S&P 500's return, including dividends. It's this phenomenal track record that has new and tenured investors paying close attention to what Warren Buffett and his investing lieutenants, Todd Combs and Ted Weschler, are buying and selling during the current bear market.
It has rarely been a bad idea to purchase more shares of Berkshire, given that the company has compounded value at a stunning 19.8% rate over 57 years through 2022. Last week, it was reported that Greg Abel, who currently heads the Berkshire Hathaway Energy division and is also a vice chairman of the company, purchased $24.6 million in Berkshire stock, increasing his stake in the Buffett-led giant by about 30%. For those who haven't been following Berkshire closely over the past few years, Abel is one of a handful of key Berkshire executives outside of Buffett and partner Charlie Munger.