Buffett starts meeting with boost to Chevron stake

Big bet: A customer is seen pumping petrol at a Chevron station in California. Buffett’s Berkshire Hathaway has made a substantial investment in Chevron during the first quarter, upping his exposure to the oil sector. — AFP

NEW YORK: After complaining for years that high valuations were thwarting his stock-buying efforts, Warren Buffett’s Berkshire Hathaway Inc is back to hoovering up other companies’ shares.

The conglomerate made roughly US$41bil (RM178bil) of net purchases in the first quarter, including a boost to its Chevron Corp stake that vaulted the investment into Berkshire’s top four common stock holdings.