Buffett bets on big pharma and bails on banks

Elvera Bartels

Mr Buffett’s enterprise experienced stakes valued at additional than $one.8bn just about every in AbbVie, Bristol-Myers Squibb and Merck at the close of the quarter, and about $136m in Pfizer. Berkshire omitted some confidential information and facts with its plan regulatory filing.

The 90-yr-old has been cautious in the course of the pandemic, declaring in May possibly that his then-document dollars pile was not that huge when thinking about the worst-scenario alternatives.

Mr Buffett has considering the fact that deployed dollars in Japan and into natural gasoline property, and acquired back Berkshire shares.

His good friend Monthly bill Gates, a previous Berkshire board member, has been donating via his basis to assistance fund vaccine endeavours.

The Berkshire manager dumped airline stocks and offered financials earlier in the disaster. His enterprise ongoing to pare bank holdings in the third quarter, trimming its Wells Fargo stake and slashing its JPMorgan investment decision

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