Buffett's Berkshire Hathaway Inc. (NYSE: BRK.A, BRK.B) invested $23.9 billion in this year's third quarter, the most in at least 15 years.
The company bought almost $7 billion in stock last quarter, a 90% jump from the $3.62 billion in the second quarter and a staggering 739% increase from the $834 million purchased in the first.
The $23.9 billion also included the $9 billion acquisition of specialty chemical company Lubrizol Corp., finalized in September, and $5 billion in preferred shares and warrants in Bank of America Corp. (NYSE: BAC).
These billion-dollar investments by the "Oracle of Omaha" are another move signaling his bullish outlook on the U.S. market. He's said repeatedly the United States won't see a double-dip recession - and he's putting huge money behind that forecast.
"He sees something, and it's big," Thomas Russo, a partner at investment management firm Gardner, Russo & Gardner, told Bloomberg.
Where Buffett Placed His BetsBuffett and Berkshire's investments broadened the company's portfolio beyond its financial and consumer-related investment focus.
A Berkshire financial filing showed a $46 billion cost basis in the company's equity investments as of Sept. 30: About $15.9 billion in "banks, insurance and finance," $12.5 billion in "consumer products," and the remaining $17.4 billion in "commercial, industrial and other."
That's a 168% rise in the "commercial, industrial and other" category from Dec. 31, 2010 when such investments totaled only about $6.5 billion, and a 62% increase from 2011's second quarter.
"He's broadly diversifying across numerous industries, and he would perhaps want that to be part of his legacy," David Kass, a professor at the University of Maryland's Robert H. Smith School of Business, told Bloomberg. The recent spending "sounds like at least one major investment. And it wouldn't surprise me if it were two or three."