Warren Buffett stuns Wall Street as he snaps up stake in struggling UnitedHealth
Berkshire Hathaway has quietly built a stake in insurer UnitedHealth over the past two quarters, a regulatory filing shows.
The insurer was once seen as a dominant stock. Constant profit gains, a reputation for competent management, and all-important insurance contracts gave the stock a halo.
But that bubble burst this year, with the stock taking a 46 percent slide since January.
At the beginning of the year, UnitedHealth was trading at over $504. The stock closed today at just over $271.
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