Buffet has been buying. This sort of thing gives cover to other long term investors and confidence to everyone but the shorts.
WSJ:
The stock market’s selloff has been bad news for most investors.
Not for Warren Buffett and his team.
Mr. Buffett’s Berkshire Hathaway Inc. BRK.B 0.75% has used the slump as an opportunity to increase spending on stocks, deploying tens of billions of dollars the past couple of months after ending 2021 with a near-record cash pile.
The Omaha-based company bought 901,768 shares of Occidental Petroleum Corp. OXY 8.21% last week, according to a regulatory filing. The move likely makes Occidental, in which Berkshire began buying shares in late February, one of its 10 biggest holdings.
In the past few months, Berkshire has also boosted its stake in Chevron Corp. CVX 1.92% , placed a merger-arbitrage bet on Activision Blizzard Inc. ATVI 0.47% , bought an 11% stake in HP Inc. HPQ 2.62% and continued adding to its position in Apple Inc., its biggest stockholding.