Warren Buffett’s Berkshire Hathaway placed a $954mn bet on credit card company Capital One in Q1. While the group was selling billions in stocks, this investment indicates confidence in the credit card industry and consumer finances. Capital One, the third-largest issuer of Visa and Mastercard in the US, attracted Buffett’s attention. Berkshire has focused its financial investments on major US banks like Bank of America and Citigroup, along with credit card giants American Express, Visa, and Mastercard.
Read more at Financial Times