OXY - Warren Buffett Is Buying Shares of This Company. Should You Do the Same?
2024-07-17 18:46:00 ET
According to the latest 13F filings , Warren Buffett's holding company Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) increased its stake in just two companies. One of those companies is insurance operator Chubb Ltd . The other is an energy giant that, quite frankly, Buffett is obsessed with. He's a big fan of how the company is being run. After reviewing the company's annual report, Buffett told CNBC: "I read every word, and...this is exactly what I would be doing."
Buffett has long been a big believer in good management teams. But they need to be paired with good businesses. "When a management with a reputation for brilliance tackles a business with a reputation for bad economics," he once famously remarked, "it is the reputation of the business that remains intact."
When it comes to good management teams, Buffett has been impressed by oil and gas producer Occidental Petroleum (NYSE: OXY) . When asked about the company's CEO, Vicki Hollub, Buffett highlighted that she is "running the company the right way."
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Warren Buffett Is Buying Shares of This Company. Should You Do the Same?