Warren Buffett is a staunch Democrat, and he wholeheartedly supported Hillary Clinton during the 2016 Presidental race. However, Buffett is nothing if not a shrewd investor, and that support for Hillary hasn’t stopped him from making the most out of President Trump’s election. In fact, multiple sources have reported that Berkshire Hathaway has purchased around $12 billion worth of stocks since the election results were announced on November 8, 2016.
At the time of writing, the exact stocks which Berkshire purchased were not disclosed, and Buffett dodged questions about specific companies that Berkshire Hathaway had invested in. The filings with Berkshire’s December share lists should be available soon, but it looks like Buffett is feeling pretty confident about the economy under President Trump.
To put those numbers into a bit of perspective, Bloomberg reported that during the first nine months of 2016, Buffett’s company purchased around $5.2 billion worth of stocks and sold or redeemed around $20 billion. In the entirety of 2015, Berkshire purchased around $10 billion of equity securities.
This massive purchase is likely a result of the upswing in the markets following Trump’s election. During his campaign, President Trump spoke at length about all of the changes he would make in favor of businesses, including cutting regulations and providing incentives for companies to move back to America from overseas. As a result, the markets were looking pretty good in November and December.
Since November 8, some of the enthusiasm has cooled slightly as President Trump’s first few executive orders made analysts fear that an isolationist policy, which might hinder business and trade internationally, was going to be put into effect. Regardless as to whether or not that will come to pass, it looks like Buffett is betting on the market doing well.