Trump effect? Warren Buffett has bought $12bn worth of stock since the US election

 
Shruti Tripathi Chopra
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Buffett takes a bite out of Apple in May last year (Source: Getty)

Legendary investor Warren Buffett aka the sage of Omaha has added $12bn (£9.6bn) worth of stock to Berkshire Hathaway since the US election in November.

“We’ve, net, bought $12bn of common stocks since the election,” Buffett said in an interview.

US stocks boomed after Donald Trump was elected US President in November as investors and analysts hoped the Republican's policies would boost the economy.

Last week, the Dow Jones Industrial Average (DJIA) smashed the 20,000-point mark for the first time ever, crossing a symbolic line only a year after falling below 16,000.

Read more: Mars gobbles up Buffett's stake in Wrigley chewing gum business

Buffett did not reveal the securities Berkshire Hathaway snapped up. According to a regulatory filing, the Nebraska-based firm snapped up $20bn worth of stocks in the first nine months of 2016.

Berkshire's filings to the SEC in November showed the firm had taken a stake in four top US airline companies - American Airlines, United Continental Holdings, Delta Air Lines and Southwest Airlines.

In May last year, Buffett revealed he bought up 9.81m shares in Apple. The news boosted the tech firm which was suffering due to a drop in iPhone sales.

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