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After sitting on the sidelines for much of 2004, Warren Buffett is buying stocks again. What’s he buying?

The Oracle of Omaha has been snapping up shares of Wal-Mart (WMT) and Anheuser-Busch (BUD). Don’t worry—he hasn’t gone completely Bubba on us. Buffett has also bought shares in Diageo (DEO), which is a European liquor company (Johnnie Walker, Captain Morgan, Smirnoff). Plus, he’s been increasing his stake in Wells Fargo (WFC). Remember, sometimes the best stock to buy is one you already own.

Posted by edelfenbein at November 28, 2005 6:37 AM