SEF - Buffett Buys Into Big Banks
“Warren Buffett Doubles Down on Big Banks….” So reads the headlines of the article written by Katherine Chiglinsky and Ben Foldy in Bloomberg LP today.
Buffett, as is well known, likes to buy when companies are out-of-favor. In the last part of 2018, this certainly was the scenario. For example, the S&P 500 Financials Index fell by 14 percent in the fourth quarter. One has to go back seven years to find a quarter that was worse.
But, there may have been something else going on in the master investor’s mind.
Mr. Buffett