Warren Buffett’s Berkshire Hathaway Inc. BRK/A increased its stake in Wells Fargo & Co. WFC, building equity holdings amid a markets decline that the billionaire investor said provided an opportunity for buying stocks “on sale.”Buffett’s firm added 9.7 million shares of the biggest U.S. home lender in the three months ended June 30, boosting the holding by 2.8 percent, Omaha, Nebraska-based Berkshire said yesterday in a filing that listed its U.S. stockholdings. Berkshire accelerated purchases on Aug. 8 as the Standard & Poor’s 500 Index plunged 6.7 percent, its steepest decline since December 2008.“I like buying on sale,” Buffett, Berkshire’s chief executive officer and head of investments, said in a television interview with Charlie Rose to be broadcast on PBS. “Last Monday, we spent more money in the stock market buying than any day this year.”
via Buffett Made Biggest Bets on Stocks This Year – Bloomberg.
Perhaps Uncle Warren should buy his own stock, BRK/A. It’s down 9.4% for the year.