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Banking, finance, and taxes

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

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By Jon C. Ogg Updated Published
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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

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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