Buffet's Crypto Gaze: 2 Stocks on His 2024 Radar

• Warren Buffet's Berkshire Hathaway Prepares for Major Investments in 2024
• Top Two Stocks Targeted by Berkshire Hathaway in 2024
• Occidental Petroleum (OXY)
• Berkshire Hathaway Stock Buybacks

Warren Buffet's Berkshire Hathaway Prepares for Major Investments in 2024

Warren Buffet, the co-founder and CEO of Berkshire Hathaway, is preparing for intensified investment activities in 2024, specifically targeting two stocks for potential acquisition. Berkshire Hathaway is also setting its sights on stock buybacks within the year, following a robust investment spree in 2023 that saw $7 billion spent on stock buybacks in a mere nine months. Importantly, Berkshire is permitted to buy back its shares at any point, providing the price is below the stock's intrinsic value.

Top Two Stocks Targeted by Berkshire Hathaway in 2024

The quarterly securities filings of Berkshire Hathaway reveal that two distinct stocks are being considered for purchase in 2024. Although no purchases have been confirmed yet, the potential is clear. The following two stocks are currently under the watchful eye of Berkshire Hathaway for 2024.

Occidental Petroleum (OXY)

Occidental Petroleum (OXY), a major entity in the oil industry, has emerged as one of the stocks that Berkshire Hathaway is considering for purchase in 2024. Berkshire already boasts a substantial stake in the oil company, currently holding 28% of its stocks. The financial firm is considering expanding its influence by acquiring more OXY stocks, having obtained permission to hold a stake of up to 50% in the company.

Berkshire Hathaway Stock Buybacks

Warren Buffet is also seriously considering the possibility of stock buybacks at his own company, Berkshire Hathaway. If initiated, the conglomerate is expected to engage in buybacks of BRK.A stocks and repurchase shares worth billions of dollars. However, this potential move hinges on one critical precondition: Berkshire Hathaway must maintain a reserve of $30 billion in cash, cash equivalents, and US Treasury bills. If this condition can be met, it opens up the opportunity for Buffet to trigger stock buybacks and thus exert more influence in timing the markets.

Edited by Jonathan Stoker