Warren Buffett told Andrew Ross Sorkin that he personally holds shares of JP Morgan. This was during an extended interview on CNBC.
This information wasn’t previously known.
Sorkin had noted that Buffett often praises Dimon, yet Berkshire is not a shareholder.
“I’ll let you in on a little secret,” said Buffett. “I own some shares of JP Morgan. Personally.
“You just got some news from me, Andrew.”
In his annual letter to Berkshire Hathaway shareholders, Buffett recommended that people read Jamie Dimon’s annual letter to JP Morgan shareholders.
“I think Jamie Dimon writes the best annual letter in corporate America,” said Buffett to CNBC. “Every viewer will learn a lot by reading his annual report. He thinks well and he writes extremely well and he works a lot on his report. He told me that.”
CNBC’s Becky Quick asked, “Why would buy that stock for your personal account and not Berkshire.”
“Because it’s one I can buy without any possible problems with my conflict,” Buffett answered.