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Buffett was busy buying in the third quarter, of course, and on Wednesday, we got a glimpse into the strategy of the Oracle of Omaha and other big name investors. After the close, Berkshire Hathaway (BRK.A) - Get Berkshire Hathaway Inc. Report (BRK.B) - Get Berkshire Hathaway Inc. Report announced a new investment position in JPMorgan (JPM) - Get JP Morgan Chase & Co. Report adding to its already large investments in Wells Fargo (WFC) - Get Wells Fargo & Company Report , Goldman Sachs (GS) - Get Goldman Sachs Group Inc. (The) Report , Bank of America (BAC) - Get Bank of America Corporation Report , American Express (AXP) - Get American Express Company Report and U.S. Bancorp (USB) - Get U.S. Bancorp Report as well as other financial services stocks. Doug Kass has his take on Buffett and Berkshire's latest investments while The Deal's Ron Orol is busy thumbing (scrolling, I'm sure) through the likes of 13F filings from Barry Rosenstein's Jana Partners and other prolific investors.

Chinese foreign direct investment in the U.S. dropped precipitously over the last 18 months amid escalating tensions between Washington and Beijing as national security reviews by the Committee on Foreign Investment in the U.S. continued to rise, according to a draft congressional report-obtained by David Hatch of TheStreet's sister publication The Deal. The annual report is authored by the U.S.-China Economic and Security Review Commission, which monitors and investigates the national security implications of the trade and economic relationship between the two superpowers and is among the most influential voices in Washington on the subject. While much of the report touched on Cfius, in its latest report, the commission looks beyond its typical scope. U.S. Among its 26 recommendations: Congress should direct the Federal Communications Commission and National Telecommunications and Information Administration, part of the Commerce Department, to identify ways to ensure the "rapid and secure deployment" of 5G advanced wireless networks. Those comments come as the FCC and Department of Justice jointly review the pending $26.5 billion combination of T-Mobile USA (TMUS) - Get T-Mobile US Inc. Report and Sprint Corp. (S) - Get SentinelOne Inc. Class A Report , a transaction the merger parties have touted as a boon for American leadership on 5G deployment. Given the committee's past sway, it does make one wonder what effect the report could have on the merger, if any.

Markets today: Stocks lost momentum on Wednesday, Nov. 14, after rising earlier following data that showed U.S. consumer prices on a monthly and yearly basis matched economists' expectations. The Dow Jones Industrial Average fell 206 points, or 0.8%, to 25,081, the S&P 500 tumbled 0.8%, and the Nasdaq slid 0.9%.

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