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Is Buffett Buying American Express (AXP)?

By admin - Posted on August 26th, 2008
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Last Friday, Warren Buffett was on CNBC for several hours in the morning answering questions on all sorts of topics with his usual reserved wisdom. One of the big revelations was that Buffett has been adding to either Wells Fargo (WFC) or American Express (AXP) – both extremely large positions in the Berkshire Hathaway (BRK) portfolio. Earlier in the program, Buffett noted the macro slowdown had spread across demographics to impact even high-end consumers, as evidenced by the things American Express has been saying.

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