New fintech helps Aus investors own a piece of Berkshire Hathaway

1 November 2019
| By Chris Dastoor |
image
image
expand image

Australian fintech start-up Stake is allowing Australian investors to invest in Warren Buffet’s Berkshire Hathaway (Class A) (BRK.A) stock, without having to pay the full $320,000 price tag.

Due to Stake’s fractional share offering, investors could trade fractions of shares down to four decimal places and still outright own that portion of stock.

Stake was a fully-regulated digital brokerage platform which allowed people outside of the US to trade US stocks and exchange trade funds (ETFs) at a fraction of the cost of going through brokers and banks in Australia.

They had added BRK.A to over 3,500 other US stocks and ETFs already on offer to trade directly.

Matt Leibowitz, founder and chief executive of Stake, said it was a unique opportunity for investors to own one of the most exciting stocks in the world.

“Anyone with even a slight interest in the markets knows about it, talks about it but very few would actually have been able to own it,” Leibowitz said.

“Stake’s mission is all about breaking down the barriers of trading the US for those outside of it, and the team here are pumped that we are once again doing this with BRK.A.”  

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 3 days ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 1 day ago

Having divested its advice business in August, AMP is undergoing restructuring in at least four other departments amid a cost simplification program....

2 weeks 5 days ago