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LongTermWealth

  • Buffett Isn’t Chasing Oil Hype — He’s Betting on Scarcity

    Buffett Isn’t Chasing Oil Hype — He’s Betting on Scarcity

    When Warren Buffett keeps buying oil, you pay attention. When he buys the chemical arm too, you really pay attention. Berkshire Hathaway now owns roughly 28% of Occidental Petroleum’s common stock — and about 32.7% if you include the warrants sitting in Buffett’s back pocket. In January, Berkshire closed its $9.7B acquisition of OxyChem, Occidental’s…

  • Occidental Isn’t a Thrill Ride — It’s a Cash Machine (If You’re Patient)

    Occidental Isn’t a Thrill Ride — It’s a Cash Machine (If You’re Patient)

    Oil stocks are supposed to be boring. Then Warren Buffett turns one into a soap opera. Berkshire Hathaway now owns roughly 28% of Occidental Petroleum’s common stock—about 265 million shares. Layer in the 8% yielding preferred shares and those 83.9 million warrants struck around $59.60, and Berkshire’s economic interest creeps north of 30%. And thanks…