Warren Buffett's 'Mystery Stock' Breaks Out After $6.7 Billion Stake Reveal
Chubb stock surged Thursday, jumping above an official buy point after Warren Buffett's Berkshire Hathaway revealed Wednesday it had built a $6.7 billion position in the insurance giant, according to regulatory filings. Although Buffett revealed the Chubb position as part of Berkshire Hathaway's first quarter filing, BRKB purchased shares in the Zurich-based property and casualty insurer in earlier quarters. Insurance was the first territory into which Buffett expanded Berkshire Hathaway after purchasing the undervalued textile manufacturer in 1962-64.