Warren Buffett's Mystery Stock Is Revealed, and It Comes
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The investment comes as UnitedHealth faces soaring medical costs, federal investigations, the fallout of the killing of a top executive and a cyberattack last year.
Berkshire Hathaway recently filed its second-quarter 13F form, revealing its stock holdings at the end of June.
Buffett owned UnitedHealth shares before selling his stake in 2010, though his Berkshire Hathaway recently acquired shares.
Berkshire Hathaway's $1.6 billion stake in UnitedHealth Group is helping to lift the Dow Jones Industrial Average to a new record as investors pile into healthcare sector funds.
It might not be Warren Buffett's fault that Berkshire Hathaway stock is down 11% since he revealed he's stepping down as CEO in December.
Shares of UnitedHealth Group surged nearly 14% on Friday after billionaire Warren Buffett's Berkshire Hathaway bought 5 million shares of the company, providing a shot in the arm for investors who think the health conglomerate will turn around under its new CEO.
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Shares of some of UnitedHealth’s peers got a bump in the wake of Berkshire’s investment in the healthcare giant, and they all look cheaper based on price relative to expected earnings.
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Stock Market Margin Debt Tops $1 Trillion: Is Warren Buffett's "Casino" Warning Starting to Bite?
Leveraged positions in the stock market jumped 18% in one month and topped $1 trillion for the first time. Increasing use of debt to invest can tell us a lot about investors' attitudes. And while this has always been the case,