May 19 2022, 06:28 PM
QUOTE(criticalbomb @ May 19 2022, 04:43 PM)
Many people say buy bank stock when interest rate up rising.
It is wrong ,should be the buy bank stock when the interest spread going higher.Even Warren Sell their Bank Stock this year and bet big on oil counter.
Warren just bought Citi though.. It is wrong ,should be the buy bank stock when the interest spread going higher.Even Warren Sell their Bank Stock this year and bet big on oil counter.
May 17 (Reuters) - Citigroup Inc's shares (C.N) rose nearly 8% after a new $3 billion bet by billionaire investor Warren Buffett's Berkshire Hathaway Inc (BRKa.N) boosted confidence in the battered Wall Street lender's stock.
Berkshire built its stake in Citigroup in the quarter ended March 31, taking advantage of a 5% pullback in shares during the period as U.S. banks' stocks slid on fears of slowing economic growth.
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