Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/wealth-manager/article/a697846
Warren Buffett pours £1.9 billion into three banks
by Dylan Lobo on Aug 16, 2013 at 08:00
Warren Buffett has spent $3 billion (£1.9 billion) on three of the biggest names in US banking.
According to reports, the legendary investor (pictured) has bought an additional 4.96 million shares in Wells Fargo worth $2.2 billion. The move increased his investment firm Berkshire Hathaway’s overall stake in the group to $19.1 billion.
Buffett also raised his holdings in US Bancorp and Bank of New York Mellon by $745 million and $161 million respectively.
The investment came as the Dow tumbled to its biggest loss in two months on renewed fears that quantitative easing was drawing to a close.
News sponsored by:
Today's top headlines
More about this:
On the road
by Danielle Levy on Dec 12, 2013 at 09:03