The American business magnate, investor, and philanthropist, Warren Buffett, who is also considered to be one of the most successful businessmen in modern history is not laying still but continues to be bullish on the American economy.
Recently, Warren Buffett’s Berkshire Hathaway Inc. announced a new $3.45 billion stake in Exxon Mobil Corp, after buying 40.1 million shares in the world’s largest publicly traded oil company.
The purchase was disclosed in a U.S. Securities and Exchange Commission filing that detailed Berkshire equity investments, mostly listed on U.S. exchanges, as of September 30.
The Exxon Mobil stake, though appears to be large, represents only a small fraction of Berkshire Hathaway’s overall $92 billion holdings.
Exxon Mobil is set to bring more oil and gas projects on stream.
The company reported a decline in third-quarter earnings of 18%. The price of the company’s share, however, increased by 1.16% moving up to $94.29.
Berkshire Hathaway shares also moved up by .28% during trading on Friday, November 15, 2013.