Warren Buffett is back in action, and this time he’s focused on the financial sector and more precisely the banks. To its portfolio, the company has American Express, Bank of America, Wells Fargo and recently an application to regulators became clear that they were purchased 35.7 million shares of JPMorgan or in dollars – this is the deal for $ 4 billions.
With this investment, the portfolio of owned financial institutions is growing at 14 and is worth $ 94 billion. The portfolio includes regional banks such as US Bancorp and M & T Bank to the largest creditors including Goldman Sachs.
JPMorgan shares rose 1.5 percent in trading after the official US session after the news came out.
Source: Financial Times
Graphs: Used with permission of Bloomberg Finance L.P.
Trader Martin Nikolov