Posted on 08/29/2015 7:42:17 AM PDT by SeekAndFind
On Friday evening, billionaire investor Warren Buffett, the founder of Berkshire Hathaway, disclosed that he had purchased a massive stake in oil refinery Phillips 66 (PSX).
Buffett now owns 57,975,456 shares, or a 10% stake, in the Texas-based energy company, according to a securities filing posted shortly after 8 p.m. ET.
As of Friday's share price close at $77.23, Buffett's stake is valued at more than $4.47 billion.
Buffett had been aggressively buying shares of Phillips 66 since Wednesday of this week.
Earlier this month, Buffett had indicated in his 13-F filing that he was building a new position.
(Excerpt) Read more at businessinsider.com ...
Who gives a $h,t what Warren freaking Buffet is doing? Do they think that they are going to be rich if they can just do what he does? It’s like there is a cottage industry posting pictures of Buffet alongside stories of what he is buying. Warren Buffet is not about to give away his advantage. You’re better off buying lottery tickets.
RE: Who gives a $h,t what Warren freaking Buffet is doing?
Actually I DO ( as an investor ).
I’ve seldom gone wrong following Berkshire Hathaway’s investments ( on a small scale of course ).
If Trump wins, what Buffett loses on railroad oil shipments (lost to Keystone Pipeline), he’ll make up on illegals in boxcars to Mexico.
Lol! Good one! I also will share no sympathy for WEB when he goes down.
You and the employees of PSX, many who live in Bartlesville OK. They and their company has been whipsawed for nearly 30 years by the likes of T. Boone Pickens, Carl Icahn, and now Buffet. All that led to the corporate marriage to Conoco, only to be later followed by a corporate divorce. They have really got to be wondering what's next.
If his recent purchase was at the low point of...say...$72-73 per share...he’s already up approx $4 a share times however many gazillion shares he bought.
I grew up a Philips-66 customer and miss seeing their stations. Too bad they never went national.
Politically, I abhor Buffett as much as any other FReeper. But his investing acumen speaks for itself.
“It ain’t bragging if you can back it up.” Jay Hanna “Dizzy” Dean, 1910-1974
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