One Stock That Could Double If Warren Buffett Is Right About Australia

Last month, Warren Buffett's Berkshire Hathaway paid $500 million for a 3.7% ownership stake in Insurance Australia Group (IAG). In addition to the 3.7% ownership stake, Berkshire Hathaway will receive 20% of IAG's gross written premiums, while paying 20% of claims over the next ten years. Immediately after the deal was announced, IAG's shares jumped by 4.3%.