What Did Warren Buffett See in Occidental That Carl Icahn Missed?

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Berkshire Hathaway ( (BRK.A) – Get the report from Berkshire Hathaway Inc.) purchased an additional 9.6 million shares of Occidental Petroleum ( (OXY) – Get Occidental Petroleum Corporation report), bringing the behemoth’s total stake to 16.3% as oil prices remain volatile.

The Berkshire conglomerate, led by billionaire Warren Buffett, said it spent $530 million to acquire the shares of the oil company, whose shares rose 1% after the announcement but fell 13% during the last month, according to a regulatory filing.

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