Why Did Berkshire Hathaway Buy JPMorgan Chase Stock? [The Motley Fool]
JP Morgan Chase & Co. (JPM)
Last jp morgan chase & co. earnings: 4/14 06:43 am
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jpmorganchase.com/corporate/investor-relations/investor-relations.htm
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Source: The Motley Fool
Berkshire now owns shares of three of the big four U.S. banks -- why was JPMorgan Chase the latest addition? Berkshire Hathaway ( NYSE:BRK-A ) ( NYSE:BRK-B ) surprised investors by revealing that it had invested billions of dollars in bank stocks during the third quarter -- including a brand new $4 billion position in JPMorgan Chase ( NYSE:JPM ) . To be perfectly clear, we don't know for sure why Buffett decided to invest in JPMorgan Chase, and it's likely that we'll never get the specifics. However, here's what we do know about Buffett's love for the banking business and why he may have decided to add yet another big bank to Berkshire's portfolio. Image Source: The Motley Fool. Buffett loves the banking industry As I mentioned, Buffett and his team invested billions in bank stocks during the third quarter. Including the new purchases, Berkshire Hathaway now owns stakes in a total of 10 banks with a combined market value of more than $85 billion as
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JPM
News
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- US bond repricing marks brief setback for hedge funds' basis trade [Reuters]Reuters
JPM
Earnings
- 4/12/24 - Beat
JPM
Sec Filings
- 4/16/24 - Form 424B2
- 4/16/24 - Form 424B2
- 4/16/24 - Form 424B2
- JPM's page on the SEC website