The unquestioned top stock to buy in Warren Buffett's secret portfolio
In 1998, Buffett's company acquired General Re for $22 billion. Although the purpose of this acquisition was for Berkshire to get its hands on General Re's reinsurance operations, the company also owned a specialty investment firm at the time, New England Asset Management (NEAM). When Berkshire completed its General Re buyout, it became the owner of NEAM.
To be crystal clear, Warren Buffett isn't playing a role in the day-to-day investment activity of NEAM's roughly $610 million investment portfolio. Nevertheless, any security held by New England Asset Management is, ultimately, part of Berkshire Hathaway. This makes NEAM, which is also required to file quarterly 13Fs, Warren Buffett's "secret" portfolio.
The unquestioned top stock to buy in Warren Buffett's secret portfolio
Despite having $610 million invested across dozens of profitable, time-tested businesses, fintech industry leader PayPal Holdings (NASDAQ:PYPL) may be the smartest buy in the new year.
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