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2024-08-08 Economy
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Buffett's Berkshire Hathaway holds more U.S. Treasury bills than the Federal Reserve
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[Quartz] Berkshire has $234.6 billion worth of T-bills
Warren Buffett’s Berkshire Hathaway has $234.6 billion worth of short-term investments in U.S. Treasury bills, the massive conglomerate’s second-quarter earnings report Saturday showed.
With Berkshire buying up $229.5 billion in Treasury bills (also known as T-bills) and fixed maturity securities in the first six months of the year, it surpassed the Federal Reserve in its investment into the bills. The Fed reported last week that it holds $195.3 billion in the bills.
Buffett has always been a fan of T-bills. At the annual Berkshire conference in May, the 93-year-old investor called them “the safest investment there is.”
Treasury bills are short-term securities issued — and backed — by the U.S. government. They are issued in maturities ranging from four weeks to 52 weeks, at a minimum purchase amount of $100. The bills then increase in value to pay off their entire face value at maturity.
Returns on the bills aren’t typically as big as what investors see from more risky investments like stocks. But with the Fed keeping interest rates in the 5.25% to 5.5% range, returns on the bills have risen. As of Aug. 2, three-month bills have a 5.05% return rate; six-month bills are at 4.68%, and 12-month bills bring in 4.18%.
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Posted by NoMoreBS 2024-08-08 00:00||
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Posted by Lord Garth 2024-08-08 08:43||
2024-08-08 08:43||
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Posted by ed in texas 2024-08-08 15:42||
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Posted by Mullah Richard 2024-08-08 16:07||
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