April 2016, Vol. 243, No. 4
In The News
Buffett Makes Substantial Investment in Kinder Morgan
Warren Buffett’s Berkshire Hathaway disclosed a new investment in pipeline operator Kinder Morgan, boosting its bet on the oil industry as crude prices have hovered near 12-year lows. Berkshire owned about 26.53 million Kinder Morgan shares worth $395.9 million at year end, according to the Securities and Exchange Commission filing. Berkshire has also been boosting its stake in oil refiner Phillips 66, having spent $1.08 billion this year, giving it a 14.3% stake.
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