Buffett made nearly $9 billion on American Express this year

$AXP.US$ Buffett’s Berkshire Hathaway made nearly $9 billion this year from investments in American Express, bringing its total unrealized gains on this stock to approximately $26 billion. According to the latest statistics, Buffett's corporate group holds 152 million shares of American Express. As of Wednesday's close, these shares are worth about 27.3 billion U.S. dollars. Buffett and his team only spent $1.3 billion that year, so even if dividends are not included, their rate of return is as high as 20 times.

Article excerpted from the US Stock Research Agency