3 Moves Warren Buffett Made in the Coronavirus Recovery
It's amazing what a difference three months makes. Back in May, investors were stunned when Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) revealed its latest investing moves with its stock portfolio, as they largely consisted of stock sales rather than major purchases. Now, though, it appears that the Warren Buffett-led insurance giant made some big buys in the second quarter of 2020 to go along with its other repositioning moves.
Berkshire's latest filing with the U.S. Securities and Exchange Commission on Form 13-F revealed some of the shifts in strategy that Buffett made in response to the coronavirus crisis. Combined with some more up-to-date information than the June 30 date to which the 13-F disclosures apply, investors are getting a better picture of exactly how Berkshire has sought to take advantage of the stock market recovery.
We've seen in July and August that Berkshire Hathaway has dramatically increased its stake in Bank of America (NYSE: BAC), and that at least raised the likelihood that Buffett had finally chosen a favorite stock in the sector rather than playing the field. The quarterly disclosures confirmed that suspicion, as Berkshire made massive sales in the following bank stocks:
Source Fool.com
