New fintech helps Aus investors own a piece of Berkshire Hathaway
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.”
AUTHOR
Chris Dastoor
Recommended for you
The $673 billion global investment manager has appointed a former Zenith sales head as it seeks to expand its reach in the Australian wealth management market.
Fund managers may be operating in a squeezed environment, but a salary guide shows they are willing to pay up for specialist talent to diversify their fund range.
Reach Alternative Investments has entered into a strategic partnership with Russell Investments to bolster its wholesale private markets offering for financial advisers and investors.
Boutique investment consulting and research house Genium Investment Partners has announced a senior appointment to drive further growth in its research ratings business.
