{"id":21800,"date":"2020-07-06T20:25:00","date_gmt":"2020-07-06T17:25:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/warren-buffett-stages-comeback-with-10b-dominion-energy-deal\/"},"modified":"2020-07-06T20:25:00","modified_gmt":"2020-07-06T17:25:00","slug":"warren-buffett-stages-comeback-with-10b-dominion-energy-deal","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/warren-buffett-stages-comeback-with-10b-dominion-energy-deal\/","title":{"rendered":"#Warren Buffett stages comeback with $10B Dominion Energy deal"},"content":{"rendered":"

“#Warren Buffett stages comeback with $10B Dominion Energy deal<\/strong>”<\/p>\n

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July 6, 2020 |<\/span> 1:25pm <\/p>\n

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Rumors of Warren Buffett\u2019s investing demise may have been greatly exaggerated.<\/p>\n

The legendary tycoon\u2019s firm Berkshire Hathaway closed a $10 billion deal on Sunday \u2014 its biggest in four years \u2014 to acquire Dominion Energy, giving Berkshire control of 18 percent of natural gas pipelines across the US.<\/p>\n

The 89-year-old Oracle of Omaha has lately come under fire from everyone from President Trump to Barstool Sports founder Dave Portnoy for not making any big bets as the coronavirus sent the global economy into a tailspin.<\/p>\n

With the market swooning, Buffett sold off his stakes in major airlines and banks, building a cash reserve of $137 billion that he had failed to tap, leaving Wall Street baffled.<\/p>\n

Even longtime Buffett acolyte Bill Ackman cashed in his $1 billion of Berkshire shares in late May, telling investors in his own Pershing Square Capital fund that he could invest it more nimbly than Buffett now.<\/p>\n

\u201cHe looked like he\u2019d missed the moment,\u201d said one equities trader that follows Buffett. \u201cBut this is a pretty solid move. It\u2019s classic Buffett.\u201d<\/p>\n

Other Wall Street insiders praised Buffett\u2019s timing, noting that Berkshire will only pay $4 billion for Dominion while assuming $5.7 billion of the company\u2019s debt after Dominion was forced to cancel its plans to build a new pipeline from the Midwest to the Atlantic Ocean.<\/p>\n

In addition to the pipelines, Sunday\u2019s deal also gives Berkshire about 900 billion cubic feet of gas storage, which could be put to good use as the price of oil rebounds from an all-time low in April.<\/p>\n

Economist David Rosenberg tweeted praise of the deal Monday morning, calling it a \u201cPerfect hedge by Warren Buffett.\u201d<\/p>\n

But some are not yet ready to say that Buffett is back.<\/p>\n

\u201cI need to see more now,\u201d said one hedge fund manager, who pointed out that Buffett\u2019s massive stake in App<\/a>le has made him roughly $11 billion during the COVID market swoon and recovery. \u201cThis is an interesting buy, but what\u2019s next? He has $125 billion to play with and he should start playing.\u201d<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

Source<\/a><\/span><\/p>\n

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“#Warren Buffett stages comeback with $10B Dominion Energy deal” July 6, 2020 | 1:25pm Rumors of Warren Buffett\u2019s investing demise may have been greatly exaggerated. The legendary tycoon\u2019s firm Berkshire Hathaway closed a $10 billion deal on Sunday \u2014 its biggest in four years \u2014 to acquire Dominion Energy, giving Berkshire control of 18 percent…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[33585],"class_list":["post-21800","post","type-post","status-publish","format-standard","hentry","category-general","tag-warren-buffett-stages-comeback-with-10b-dominion-energy-deal"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/21800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=21800"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/21800\/revisions"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=21800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=21800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=21800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}