Though Warren Buffett, the legendary ‘Oracle of Omaha,’ is known for playing the long game in the stock market and for advocating a ‘get rich slow’ approach, he is no stranger to rebalancing his holdings when there is a need or an opportunity.
Late 2024 brought a major example of this as the famous investor dumped billions worth of Bank of America (NYSE: BAC) shares and purchased tens of millions of dollars worth of equity belonging to firms like VeriSign (NASDAQ: VRSN), Sirius XM (NASDAQ: SIRI), and Occidental Petroleum (NYSE: OXY).
OXY stock purchase stood out in particular for its impeccable timing as Buffett managed to buy at a multi-year low, thus capitalizing on a dip during volatile energy markets.
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