Warren Buffett bets on General Motors and At & t. Berkshire Hathaway, the American financier's holding company, raised its equity investments to 127,41 billion dollars in the third quarter, from 107,18 billion in the second, increasing its stake in the two auto and telecommunications giants.
As of September 30, Berkshire owned 59,3 million shares of AT&T (while it held none in June) and 50 million shares of GM (22% up from 41 million in June). AT&T shares fell 8,3% in the third quarter and GM shares fell 9,9%, while the S&P 500 fell 6,9% in the same period.
Berkshire also reduced its stake in Walmart to 56,2 million titles, up from 58,3 previously. The stock of the large-scale distribution giant lost 8,6% in the third quarter.
