Warren Buffett has been a part of the investment community for decades and over his many years in the game he has stuck to set of principles to guide him.
Those principles have led him back to one stock in particular that he has continued to load up on in recent weeks.
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Berkshire Hathaway (BRK.B) acquired more shares of Occidental Petroleum, according to a regulatory filing, increasing its stake to about 23.1%.
Berkshire paid about $466.68 million for 7.9 million shares of Occidental between March 13 and March 15.
Berkshire now owns about 208.04 million shares worth about $11.81 billion based on the company's Wednesday closing price of $56.80.
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This is the second time in March Berkshire has added to its OXY portfolio.
Last week, the company announced the purchase of nearly 5.8 million shares of the oil company, paying between $59.80 and $61.90.
Buffett's Investment Strategy
Berkshire released its annual letter to shareholders last month, and the Oracle of Omaha offered sage advice to the investment advice.
Buffett says that Berkshire's "satisfactory" results over its 58 years are from an advantage that favors long-term investments.
The billionaire mentions the fact that it was 1994 when Berkshire completed its purchase of 400 million shares of Coca-Cola (KO). He says the total cost was $1.3 billion.
"The cash dividend we received from Coke in 1994 was $75 million," Buffett wrote. "By 2022, the dividend had increased to $704 million. Growth occurred every year, just as certain as birthdays."
