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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤
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Author: DTB ✭  😊 😞
Number: of 12516 
Subject: Re: Occidental Petroleum
Date: 09/27/2024 3:03 PM
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No. of Recommendations: 4
Over the years that I have owned BRK he has had a position in XOM, COP, PSX, CVX and now OXY. He sold XOM almost as fast as he bought it, took a significant write-down in COP, built up a 14% position in PSX only to sell the entire position WAY TOO EARLY, seems to sell bits and pieces of CVX every quarter and now is no longer adding to OXY."

You forgot PetroChina, which was approximately a 10 bagger. ;-)


Another that was not in the above list is Occidental. Not the recent underwater purchases that began in 2022, but earlier. Berkshire bought about 19m shares in Q3 and Q4 of 2019, at prices about $40, and then turned around and sold them all in 2020 Q2 when COVID hit, for less than half that. OK, what's a $400m loss for a company Berkshire's size, but still, when you look at the chart, it's hard to imagine a worse time to sell oil stocks.

dtb
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