The groundwork for a smooth and successful transition is already in place at Berkshire Hathaway.
While we had expected to talk more heavily about Phillips 66,a stake which Berkshire Hathaway continued to add to during the third quarter, or Wells Fargo, which was under pressure over the news of its aggressive and occasionally fraudulent sales practices, the top story out of the company's most recent 13-F filing was the purchase of shares of American Airlines Group, Delta Air Lines, and United Continental Holdings, with the investment managers at Berkshire making a more than $1 billion bet on...
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