Berkshire Owns Both Chevron and Occidental. Which Oil Stock Is the Better Buy Now?
The global energy market has been upended by the geopolitical conflict in the Middle East, sending oil prices sharply higher. Occidental Petroleum (NYSE: OXY) appears better positioned to benefit from high oil prices than Chevron (NYSE: CVX) . But don't pull the trigger just yet. There's a very important reason you may want to own Chevron instead, and it may help explain why Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) owns both. Warren Buffett once described investing as a baseball game where nobody is calling balls and strikes. The point of that folksy example is to highlight that investors don't have to swing at every pitch; they can just wait for the pitches they like. And that's exactly how Buffett handled Berkshire Hathaway's portfolio , cherry-picking the stocks he wanted inside of it. Image source: Getty Images. Continue reading