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Buffett buys more bank shares: Should you? – Motley Fool Australia
According to an SEC filing, Warren Buffett has recently added to his bank shares by buying more Bank of America. Are ASX bank shares a buy?
Despite the economic uncertainty, CNBC reported this week that Warren Buffett has hiked his stake in a United States bank by US$800 million. Does this mean it’s time to purchase ASX bank shares?
What did Buffet buy?
According to a Securities and Exchange Commission filing, Berkshire Hathaway bought 33.9 million shares in Bank of America worth US$813.3 million. As a result, this lifted his stake to more than US$24 billion. The transaction was flagged as it resulted in an ownership interest amou…
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