It’s been a tough start to the year for investors in big tech companies.
But that’s not causing Berkshire Hathaway’s Warren Buffett to lose any sleep.
Banks, energy firms and other value stocks have rallied this year, which is great news for Buffett. Berkshire Hathaway shares are up about 3% this year and near an all-time high, while all the FAANGs, Microsoft and Tesla are deeply in the red. FAANG refers to Facebook, Amazon, Apple, Netflix and and Google.
Many of Berkshire’s top investments are financial firms which have started the year in the green, including Bank of America, American Express and US Bancorp.
Berkshire’s portfolio has also gotten a boost from Chevron, which is Buffett’s twelfth-largest holding. The oil giant’s shares are up 10% this year, making it the top performer in the Dow.
It’s too soon to say whether the current market trends will hold. But value investors who showed patience are looking pretty good so far in 2022.