Warren Buffett Just Invested $87 Million in an Unlikely Stock

Warren Buffett is one of the world's most renowned investors, and he just made a surprising major portfolio move.

If you want to start investing like a billionaire , check out the best investing apps and copy this money move that Buffet thinks will pay off big.

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Who is Warren Buffett?

Warren Buffett is CEO of Berkshire Hathaway and is estimated to be the 10th richest person in the world. His investment strategy is based on value investing, a paradigm fueled by purchasing underpriced securities.

That usually means he believes the stock is worth more than the current market pricing when he makes a big move.

His latest significant investment is a surprise move, but it could mean the company is undervalued. Learn which company just received his $87 million investment.

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Sirius XM

Buffett purchased $87 million of Sirius XM (NASDAQ: SIRI) on Oct. 10 and 11, averaging about $24 per share.

This latest filing puts his stake holdings at 108.7 million shares. He has steadily increased his investment in the satellite radio company since 2016.

Bank of America

Buffett has been ditching shares of Bank of America (NYSE: BAC) throughout September and October.

It's reported that the billionaire has increased his wealth by selling off hundreds of millions of shares, which may indicate that the banking giant has reached its peak profitability at unsustainable rates.

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Bottom line

If you want to make money moves like one of the wealthiest men on earth, it's worth knowing where he is putting his money.

Of course, there is no guarantee when it comes to investing, and we cannot recommend that anyone imitate Buffett.

However, Buffet's moves indicate the direction of the economic winds, and new investors are always encouraged to do their research to determine what's best for them.

Money tips that can work for everyone

No matter what your bank account balance is, there's always an opportunity to optimize and improve your finances. Here's a quick checklist of things you can look at today.

Focus on paying off your debt. Debt can hold you back from making progress with your overall financial well-being. Aside from cutting expenses, there are tools that can help you pay off debt faster like balance transfer credit cards and debt counseling.

Earning extra income can give you breathing room. If finances are tight, earning some extra money to supplement your income can make a huge difference. A new job is one option to consider, but if you're not ready to make a big change or already retired, a part-time side job could be a better choice.

Cut your expenses. It sounds painful and so not fun, but it doesn't have to be. Take a look at your biggest expenses because that's where you'll probably find the biggest savings. For example, auto insurance rates have been soaring so shopping around for a new insurance company can be the fastest way to cut your bill. Also, look for ways to cut your grocery bill (despite rising inflation).