Warren Buffett sold out of two of his energy stocks - including his position in the world's largest energy company ExxonMobil - as the oil price collapse accelerated at the end of last year.
Latest regulatory filings show Berkshire Hathaway, the investment conglomerate run by billionaire investor Buffett (pictured), sold $3.9bn in ExxonMobil shares as well as its entire position in US oil giant ConocoPhillips. The price of Brent crude oil slumped from its high of $115 a barrel last summer to the $46 mark in January. It has recovered slightly since then, to trade around the $60 mark, but fund managers such as Tim Guinness believe it will take 18 months before it reaches its previous peak. Over the six months to 18 February, ExxonMobil's share price has dropped 6% while Con...
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