🔒 Unpacking Warren Buffett's Occidental Petroleum endorsement: Liam Denning

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🔒 Unpacking Warren Buffett's Occidental Petroleum endorsement: Liam Denning

In his recent letter, Warren Buffett praised Occidental Petroleum Corp.’s CEO, Vicki Hollub, for her uncommon talent in the oil business. However, the history of Berkshire Hathaway’s involvement with Occidental Petroleum reveals a pyrrhic victory, with Oxy’s stock performing poorly and Berkshire’s influence impacting strategic decisions. As exemplified by the Oxy stake, Buffett’s interest in oil stocks diverges from current market trends favouri…