In the first quarter of the year, Warren Buffett and his company Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) bought close to 9 million shares -- a roughly 2.9% stake -- in the large digital bank Ally Financial (NYSE: ALLY), which specializes in auto lending. With inventory still being challenged and used car prices soaring, Ally has flourished, generating strong financial results since the pandemic started. Buffett and the market are clearly at odds here.
A historically high U.S. inflation rate of 9.1% hasn't stopped the Oracle of Omaha from putting his company's cash to work in five stocks.
Ally Financial (ALLY) reports a marginal decline in revenues and higher expenses in the second quarter of 2022.