European broker CA Cheuvreux has penned an open letter to billionaire US investor Warren Buffett, urging the Sage of Omaha to buy into ‘bottomed out' European equities.
Buffett has just 4% of Berkshire Hathaway tied up in European firms, with the vast majority of his investments in US companies. Cheuvreux told Buffett now is the best time to buy into the best blue-chip firms Europe has to offer, with share prices hitting depressed levels. The group focused on five key industries, insurance, retailing, household care, capital goods and automotives, which have been favoured sectors throughout Buffett's career. It named AXA, Zurich, Hennes & Mauritz, Unilever, Volkswagen, Daimler and ABB as seven stocks Buffett should be holding. "European equitie...
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