Warren Buffett is a living, breathing billionaire, but he’s also a leading economic indicator. So after his Berkshire Hathaway Inc. dumped almost $13 billion of stocks in the throes of the Covid-19 crisis, investors were beside themselves. They’re part of the net $4.8 billion Berkshire spent buying equities during the period; it spent an additional $9 billion buying up its own shares. Following up on the good news, Moderna Inc., another company in the Covid-19 vaccine race, said Monday that its formulation was 94.5% effective. Right before the pandemic hit, Buffett said in a TV interview that he’s been a net buyer of stocks every year since he was 11 years old; he’s 90 now.

Source: Mint November 17, 2020 01:52 UTC