2024-05-24 07:15:00 ET
The stock market has gotten off to a red-hot start this year. The technology-heavy Nasdaq Composite is up 11% so far in 2024, fueled by hype in artificial intelligence (AI). Moreover, the S&P 500 has also gained close to 11% -- signaling an overall strong profile among broader market sectors.
In particular, the energy industry has performed well so far this year -- and Berkshire Hathaway CEO Warren Buffett has taken note. According to Berkshire's latest 13F filing , Buffett only added to one existing position during the first quarter of 2024.
The Oracle of Omaha scooped up 4.3 million shares of oil and gas conglomerate Occidental Petroleum (NYSE: OXY) . Should you follow Buffett's lead? Let's find out.
For further details see:
The Energy Sector Is Off to a Sizzling Start in 2024. This Stock Is the Only Existing Position That Warren Buffett Added To During the First Quarter.