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Warren Buffet bets billions on Japan's trading houses
Berkshire Hathaway announced that it has acquired a 5% stake in each of the top traders -- Itochu, Mitsubishi, Mitsui, Marubeni and Sumitomo. That's worth ~$6.5 billion
Berkshire accumulated the stakes over the last year
Berkshire Hathaway announced that it has acquired a 5% stake in each of the top traders -- Itochu, Mitsubishi, Mitsui, Marubeni and Sumitomo. That's worth ~$6.5 billion
Berkshire accumulated the stakes over the last year
Buffett: “The five major trading companies have many joint ventures throughout the world and are likely to have more of these partnerships. I hope that in the future there may be opportunities of mutual benefit.”
Trading house stocks are popping after announcement. Here is Itochu, which rose as much as 5% today
