Warren Buffet, one of the world’s leading investors and third richest man, went for the biggest deal of his career buying Precision Castparts Corp for $37 billion. Building on his minority stake in company, which makes parts for aerospace and oil and gas exploration, Mr. Buffet’s company bought out the remainder of the company at a 21% premium to the share price using $23 billion of their $67 billion cash pile and funding the rest through a loan. The deal boosted shares in the oil and gas sector which has struggled from the fall in the price of oil over this year.