Star investor Warren Buffett and fellow billionaire, US President Donald Trump
In an interview with talk show host Charlie Rose, Mr Buffett suggested his company Berkshire Hathaway’s post-election stock purchases overall were even higher, reflecting stocks that his deputies Todd Combs and Ted Weschler bought.
He said: ”We've, net, bought $12 billion of common stocks since the election.
"The guys that work with me, the two fellows, they probably bought a little bit or sold a little bit too."
Donald Trump has seen a dip in share prices this week after some controversial policy moves
Two per cent will produce miracles
Market analysts said the speed with which Berkshire is buying stocks was unusual.
In the three months since Mr Trump’s stunning victory Mr Buffet and his colleagues have invested half of their total spend in the previous three years.
Mr Buffett was cagey when asked if Berkshire had added to its stakes in the four largest US airlines: American Airlines, Delta Air Lines, Southwest Airlines and United Continental.
Warren Buffett and his colleagues have been on a £9.5 billion spending spree
The company is expected to disclose some of the stocks it has bought by February 14 in line with regulatory filing of accounts.
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US stocks rose after Mr Trump was elected, reflecting investor optimism that his policies might boost economic growth, aided by a Congress also under Republican control.
And despite taking a dive this week after some controversial policy announcements, most stocks post monthly gains for January.
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US President Donald J. Trump attends a meeting on cyber security, in the Roosevelt Room of the White House, in Washington, DC, USA, 31 January 2017
Mr Buffett said the new president, himself a billionaire property magnate, is unlikely to reach his goal of 4 per cent annual growth but pointed out growth at half that level would over a generation add more than £15,000 per person to real gross domestic product in the US.
He said: ”Two per cent will produce miracles.”
The US economy grew by 1.6 per cent last year, the lowest since 2011.