Warren Buffett, Berkshire’s controlling shareholder revealed on Monday that Berkshire Hathaway is buying shares during dip in the market. The 81-year-old Warren Buffett appeared on cable television network. He ruled out slump in European shares following weekend elections in Greece and France. According to him it would be extremely difficult for them to sort out problems but he was optimistic that eventually Europe will be out of the current mess.
Buffett refused to disclose names of the two companies whose shares Berkshire was buying. He said Berkshire bought $60 million shares last Friday.
Berkshire arranged its yearly shareholder meeting, over the weekend, an event which draws about 40,000 people for a question answer session with Buffett as well as Vice Chairman of Berkshire, Charlie Munger. During that session Buffett disclosed that he had recently made a purchase of more than $22 billion that would have been one of his largest ever.
Warren Buffett is Wal-Mart’s fifth-largest shareholder. He reaffirmed his support for Wal-Mart Stores Inc, by saying that he has not changed his opinion regarding Wal-Mart Stores Inc after a recent fraud cases over bribe payments in Mexico.
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