> Warren Buffett Blog: Buffett buys Verizon, reduces stake in GM

Tuesday, August 19, 2014

Buffett buys Verizon, reduces stake in GM

Warren Buffett bought 11 million shares of Verizon in the first quarter of 2014. The stock rose and he added more, almost 4 million more, in Q2. 

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.

General Motors and Cadillac

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 has sold off 10 million shares of GM in 2014, and reduced his GM holdings by 25%.