Warren Buffett's Best Investment That Nobody Talks About
As one of the most accomplished investors ever, Warren Buffett has made some smart purchases over his multidecade career as CEO of Berkshire Hathaway (NYSE: BRK.B) (NYSE: BRK.A). The press and the pundits tend to focus on acquisitions like See's Candy, GEICO Insurance, and the large purchases of Coca-Cola and Apple stock. But there's one dynamite Buffett investment that has flown under the radar: American Express (NYSE: AXP). Berkshire Hathaway currently owns around 20% of the global credit card giant's stock at an estimated worth of $22.4 billion.
Here's why American Express has been such a great investment for Buffett and Berkshire Hathaway, and why the 151.6 million shares it owns could be worth much more 10 to 15 years from now.
Buffett started buying American Express for Berkshire Hathaway in the early '90s. In his annual letter to shareholders this year, he stated that the company had essentially finished buying shares of the stock in 1995 at a cost basis of $1.3 billion.
Source Fool.com
