CB - Should You Buy Warren Buffett's High-Flying Mystery Stock?
2024-06-16 06:40:00 ET
Warren Buffett knows how to keep a secret. He went months without identifying the "mystery stock" he began quietly adding to Berkshire Hathaway 's portfolio in mid-2023. Berkshire secured U.S. Securities and Exchange Commission (SEC) approval to keep the purchases under wraps.
However, Berkshire spilled the beans in May. The giant conglomerate revealed that it had accumulated a 6.4% stake in property and casualty insurer Chubb (NYSE: CB) worth more than $6.7 billion at the end of the first quarter of 2024. It's now Berkshire's 10th-largest holding.
Chubb has been a big winner over the last 12 months, with its shares soaring nearly 40%. Should you buy Buffett's high-flying mystery stock?
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Should You Buy Warren Buffett's High-Flying Mystery Stock?