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Warren Buffett Went On $12 Billion Stock Buying Spree After The Election

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Warren Buffett Went On $12 Billion Stock Buying Spree After The Election

Immediately following the U.S. presidential election, billionaire investor Carl Icahn left President Trump's victory party early to buy $1 billion worth of index futures. Icahn's bet on a Trump White House is by all means very large, but it pales in comparison to Warren Buffett's $12 billion buying spree.

During an interview with Charlie Rose on Friday, Buffett said he added $12 billion worth of common stocks since the election, although he didn't confirm any further details regarding what stocks he bought and why. He did say the purchases were mostly his decision.

Regulatory filings which detail Buffett's activities won't be released until next month.

Buffett did comment on his economic outlook and expressed his skepticism regarding Trump's outlook of growing the U.S. economy at a 4 percent rate. He said that a 4 percent growth right is "pretty high" and a mere 2 percent growth will "produce miracles."

As noted by Bloomberg, Buffett's buying spree as quite notable since he only bought $5.2 billion worth of stocks for the first nine months of 2016 and sold roughly $20 billion worth of stock, implying he was a net seller in 2016.

Throughout all of 2015, he bought around $10 billion worth of stocks.

Image credit: Fortune Live Media, Flickr

Posted-In: Carl Icahn Charlie Rose Donald Trump Warren BuffettPolitics Markets Media General Best of Benzinga

 

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