Banking, finance, and taxes

Warren Buffett Bought Shares of J.P. Morgan (WFC, BAC, JPM)

Warren Buffett and Berkshire Hathaway Inc. (NYSE: BRK.A) have invested in banks on and off, and the public filings show that Berkshire is a larger and larger stake holder in Wells Fargo & Co. (NYSE: WFC) and that there is a large preferred stake in Bank of America Corporation (NYSE: BAC). 

In an interview this morning came some interesting news.  The CNBC crew asked Warren Buffett in a live interview why he did not own shares of J.P. Morgan Chase & Co. (NYSE: JPM) since Jamie Dimon is deemed as the best CEO of the banks and Chase has the best banking clients.

Buffett announced that he wanted to tell them something…  HE DOES OWN J.P. MORGAN SHARES.  What is different from usual Buffett holdings news is that Warren Buffett owns these shares of JPMorgan in his personal account.  Buffett went on to say that Dimon’s annual letter is one of the few that is extremely well thought out and one of the few that is worth reading.

JON C. OGG

Get Ready To Retire (Sponsored)

Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future

Get started right here.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.