Warren Buffet wants to know–can you hear me now? The billionaire Sage of Omaha bought 11 million shares of Verizon in the first quarter of 2014. The stock rose and he bought some more–almost 4 million more, in Q2. Though he probably would have bought more even if the stock hadn’t gone up. Known as a long-term value investor, Buffett’s opinions on the long-term viability of companies are so well-regarded that they can become almost self-fulfilling prophecies. Verizon may be in for a growth spurt, but it seems more likely that Buffett is simply putting his money where he usually does: in a company with a dominant position in its sector, positioned for growth over the long haul.
And he’s got a lot more money to put into Verizon, too. Because though Warren Buffett is very happy with his new Cadillac, he is less sanguine with General Motor’s outlook. Much as he respects his friend and GM CEO Mary Barra, Buffett has sold off 10 million shares of GM this year, reducing his GM holdings by 25%.Up to 70% off on Hottest Amazon Deals]