Warren Buffett's Contradictory Actions: Selling Stocks but Holding onto Shares of This Company
Berkshire Hathaway, led by Warren Buffett, sold nearly $7 billion worth of equity securities in its portfolio during the third quarter, while buying just $1.7 billion in equities. Clues from the company's earnings report and SEC filings suggest that Berkshire reduced its stake in Chevron by about 10% and sold $619 million worth of HP shares. However, Berkshire has been consistently buying shares of Occidental Petroleum throughout the year, boosting its stake to 25.8%. Occidental's stock trades at a low multiple of its free cash flow and has the potential to generate significant cash in the future.
