An eight-year bull market has found many investors searching harder for underpriced securities, with First Eagle investor Jean-Marie Eveillard saying in a recent interview, “There are few opportunities, but still there are some.” This week, several may reside in Warren Buffett (Trades, Portfolio)’s portfolio.
Prices in Buffett’s portfolio largely mirror the market. The 175% rise in the S&P 500 in the past nine years has lifted 19 of his 47 holdings, or 40%, to within 5% of their highest prices in a year. In the index, 155 of 500 companies, or 31%, trade within that range, according to data. In an even closer match, 4% of companies in the S&P 500 trade within 5% of their one-year low, and 4% of Buffett’s holdings trade in that range. Continue Reading »