C - Warren Buffett and Berkshire Hathaway Own Citigroup Stock. Should You?
2024-01-05 09:02:00 ET
In early 2022, Warren Buffett and his investing team at Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) made a splash by buying $3 billion in shares of Citigroup (NYSE: C) .
At the time, Citigroup was experiencing seismic change under new CEO Jane Fraser. The stock's valuation was hovering well below its peers, still hobbled by a poor reputation and memories of its 2008 government bailout. Fraser promised a way out through targeted cost-cutting, which she believed would make the bank more efficient -- and profitable.
For further details see:
Warren Buffett and Berkshire Hathaway Own Citigroup Stock. Should You?