Warren Buffet bought eight new stock positions in the first quarter. We recently learned. We knew about a few. He bought a company called OXY 3.20%. He brought a lot of crude oil. We were already aware of that. A lot of people don’t know that Ally Financial is a pure fintech play, but he bought some in the financial sector and adjacent companies. Ally shareholders, do you have any chance?

No, it’s Bram Berkowitz.

The company it was spun out of was not known.

Berkowitz is right.

Danny Vena: Didn’t that originate from GMAC Finance?

It was very good. Ally was born during the financial crisis. As you might expect from where it came from, GMAC Finance is primarily an auto lender. Ally Financial started out as an auto lender. I’m going to show him how to do that in the presentation, so I’m going to let him see my screen first.

I promise, I’m not going to do that to you.

Here is what Ally does. A few of the other fintechs we follow are becoming an all-in-one digital banking platform with them. You might think I’m talking about SoFi, but I’m not. The focus on auto lending is the key difference. Ally is to auto-lending what SoFi is to private student lending, but more so because of their GM roots, they’re a very big operation.

The stake in the company is valued at about $350 million, after the company bought a little over 1% of it. It’s not a huge investment by the standards of the company, but maybe it’s a position. For example, in the first quarter he bought a billion dollars worth of Apple. It’s many times that amount because they were just skirting into a position.

Ally is an advertising company. No one has a position in any of the stocks mentioned. Danny Vena has positions in Apple. There are a number of options, including long January 2023 $200 calls on the company, short January 2023 $200 puts on the company, and short March 2023 $130 calls. There is a disclosure policy of The Motley Fool.

Ally is an advertising partner of the company. There is no position in any of the stocks mentioned by the man. Danny Vena has a position in Apple and a position in SoFi Technologies, Inc. There are a number of options, including long January 2023 $200 calls on the company, long March 2023 $120 calls, and short January 2023 $265 calls. There is a disclosure policy at The Motley Fool.

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