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TheStreet.com
Warren Buffett Buys More of His Favorite ‘Boring’ Stock
It’s tough to teach an old dog new tricks and it doesn’t look like Warren Buffett will be switching up his style anytime soon. Buffett’s Berkshire Hathaway purchased nearly 5.8 million shares of oil company Occidental Petroleum over the past few trading sessions, paying between $59.80 and $61.90 between last Friday and Tuesday, according to a regulatory filing. While the purchase was the first time since September the firm has raised its stake in the company, the $350 million investment brings Berkshire’s totals stake in Occidental to over 200 million shares worth $12.2 billion.
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