Is Warren Buffett Trying To Prop Up Oil?

Is Warren Buffett Trying To Prop Up Oil? by Footnoted

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For someone who isn’t exactly known for talking his book, the Oracle of Omaha is sure doing a lot of that lately. How else to explain these 8 Form 4s filed since the beginning of the year? Each of the filings disclose that Warren Buffett  has been actively adding to his already hefty stake in Phillips 66.

Just to put those 8 Form 4s into perspective, in 2015, Berkshire Hathaway filed 3 Form 4s for the entire year.

A quick search of Berkshire’s 13Fs shows that it has made regular use of the “Confidential Treatment” rule that allows high-profile investors (like Buffett) from having to disclose certain positions in...