Warren Buffett just bought another paint company

Buffett can't find cheap stocks to buy
Buffett can't find cheap stocks to buy

Warren Buffett loves to watch paint dry.

Buffett's company, Berkshire Hathaway (BRKA), is investing over half a billion in Axalta (AXTA), the second paint company it's bought. It's another seemingly boring investment from one of America's most successful all-time stock pickers.

Berkshire paid $560 million to the Carlyle Group, the largest shareholder of Axalta, for 20 million shares of the paint company. Buffett now has a 9% stake in Axalta, which saw its stock jump up 6% when markets opened Tuesday.

Carlyle took Axalta -- a former unit of DuPont (DD) -- public in November and the paint company's stock is up 43% since its opening day.

Buffett already owns paint company Benjamin Moore and he fired the CEO in 2012. The Oracle of Omaha's other "juicy" investments include: Nebraska Furniture Mart, Dairy Queen, Geico and Heinz.

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