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Where Warren Buffett finds value as oil sinks

January 13, 2016

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Warren Buffett is finding something to buy amid the oil market wreckage.

In the days before crude fell below $30 for the first time in 12 years, Buffett’s Berkshire Hathaway was picking some shares of oil giant Phillips 66 as that stock hit three-month lows.

In three days of purchases just revealed in an SEC filing, Berkshire bought almost 2.5 million shares of the company at an average price of $77.22.

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