“What does Warren Buffett know that I don’t?” is probably one of the most frequently asked questions in investment circles. But lately, when it comes to media investments, it might be better to ask it the other way around.
Warren Buffett Buys This Stock | Sirius XM Stock Analysis
I don't doubt the wisdom of the Oracle of Omaha, but the news that Buffett's Berkshire Hathaway more than tripled its stake in SiriusXM in the second quarter seems rather staggering, especially given the mogul's disastrous investment in Paramount Global.
Buffett recently admitted that Berkshire “lost a lot of money” on Paramount after it acquired an 11% stake in 2022, ultimately resulting in a complete sale of Berkshire's Paramount shares.
“I think I'm smarter now [about the entertainment business] than I was a few years ago, but I also think I'm poorer for having acquired the knowledge the way I did,” Buffett admitted at Berkshire's shareholders meeting in May.
