Warren Buffett hasn’t used the market pullback in April to repurchase any shares of Berkshire Hathaway, perhaps a signal he expects more volatility ahead amid rising interest rates and nagging inflationary pressures.
“We haven’t repurchased any shares at all in April,” Buffett said at the Berkshire Hathaway annual meeting on Saturday. “We’re back somewhat to our more lethargic mood, but anything could change for sure.”
Berkshire has made massive repurchases of Berkshire stock in the past but has also taken years-long breaks from the practice The company repurchased $3.2 billion of its own stock in the first quarter.
Chairman and CEO of Berkshire Hathaway Warren Buffett rides in a golf cart at the Allen & Company Sun Valley Conference on July 07, 2021 in Sun Valley, Idaho. (Photo by Kevin Dietsch/Getty Images)
More recently, Berkshire shares haven’t been immune to the broader market pullback.
Shares of Berkshire’s class A and class B shares are down about 6.2% so far in the month, outperforming the 8% drop in the S&P 500.
While Buffett has temporarily stopped buying Berkshire shares, he continues to bet big elsewhere.
Buffett bought $51 billion in stock in the first quarter, according to the company’s latest earnings release.
The billionaire investor’s empire upped stakes in oil giants Occidental Petroleum and Chevron while also investing $4.2 billion to become the largest investor in computing leader HP Inc.
Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.
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