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Warren Buffett bought about $2.5 billion worth of Citigroup. If you’re looking for a low-risk approach to ‘buy the dip,’ this big banking bet is worth copying

TheStreet.com

What Did Warren Buffett See in Occidental That Carl Icahn Missed?

Berkshire Hathaway ( ) purchased another 9.6 million shares of Occidental Petroleum ( ), increasing the behemoth’s total stake to 16.3% as oil prices remain volatile. The Berkshire conglomerate, run by billionaire Warren Buffett, said it spent $530 million acquiring the shares of the oil company, whose stock rose by 1% following the announcement, but had fallen by 13% during the past month, according to a regulatory filing. Berkshire now owns 152.7 million shares, worth about $8.52 billion.

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