Though he backed Hillary Clinton in the presidential election, Warren Buffett's investment portfolio has boomed since the 8 November election of Donald Trump.
Buffett had done exceedingly well from the myriad financial holdings in the company's portfolio. Bank stocks had surged since Trump's win, over expectations of higher rates and less regulation of Wall Street.
Between them, the company's half-dozen top financial holdings had brought in a hefty $4.3 billion in profits since 9 November for the legendary investor. That total was worked out on the basis of Monday's close and differed somewhat from a Motley Fool analysis that used different baselines.
Bank stocks in total, as assessed by the KBW Nasdaq Bank Index, had gained 13.5 per cent during the period. Berkshire's Class B shares shot 8.6 per cent through Monday's close and had jumped over 20 per cent year to date.
The rise of the stock alone since the election had added $3.8 billion to Buffett's personal wealth, with the Trump victory adding $8.1 billion to his and his company's fortune. (All figures had been worked out on the basis of holdings by both Buffett and Berkshire as of 30 September.)
According to an artilce in Fortune though Buffett failed to call the winner in the US presidential election, he had accurately predicted the magnitude of total returns - stock appreciation plus reinvested dividends - would help US investors reap huge returns in the 17 years that began towards the end of 1999.