Buffett's big bank bet explained using a simple measure of stock market value
November 15, 2018 at 11:36 AM EST
Warren Buffett has long said that his goal at Berkshire Hathaway is to buy great companies at fair prices rather than the fair companies at great prices, which was the way he made his mark as a young stock picker. His big bet on banks, including J.P. Morgan, fits this strategy at a time when there are concerns about an overvalued stock market.