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Despite backing Hillary Clinton, Warren Buffet cashes in on Trump’s victory

Despite being a staunch supporter of Hillary Clinton in the last US Presidential race, billionaire investor, Warren Buffet, snapped up shares worth £9.5 billion follwing Donald Trump’s historic victory.

In an interview with talk show host Charlie Rose, Mr Buffett suggested his company Berkshire Hathaway’s post-election stock purchases overall were even higher, reflecting stocks that his deputies Todd Combs and Ted Weschler bought.

He said: ”We’ve, net, bought $12 billion of common stocks since the election.

“The guys that work with me, the two fellows, they probably bought a little bit or sold a little bit too.”

Market analysts said the speed with which Berkshire is buying stocks was unusual.

US stocks rose after Mr Trump was elected, reflecting investor optimism that his policies might boost economic growth, aided by a Congress also under Republican control.

And despite taking a dive this week after some controversial policy announcements, most stocks post monthly gains for January.

In the three months since Mr Trump’s stunning victory Mr Buffet and his colleagues have invested half of their total spend in the previous three years.

Mr Buffett was cagey when asked if Berkshire had added to its stakes in the four largest US airlines: American Airlines, Delta Air Lines, Southwest Airlines and United Continental.

Warren Buffett and his colleagues have been on a £9.5 billion spending spree
The company is expected to disclose some of the stocks it has bought by February 14 in line with regulatory filing of accounts.

 

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