Is Goldman Sachs a Buy?
Berkshire Hathaway made news in May when it sold most of its shares in investment bank Goldman Sachs (NYSE: GS). While Berkshire Chairman and CEO Warren Buffett didn't elaborate, the move was likely part of his efforts to de-risk the portfolio, as my colleague Matthew Frankel wrote about back on May 19. Goldman was not the only financial stock that Buffett dumped, but it was his biggest sell, as he dropped more than 10 million shares. Berkshire Hathaway still holds about 1.9 million shares, but it is no longer the company's largest financial holding.
Since closing at a 52-week low of $133 per share on March 23, Goldman has roared back up to almost $215 per share as of Thursday. The stock is down about 7% on the year, and investors that held on through the dip reaped the rewards of that sizable snapback. But investing is about the long term, so let's take a look at Goldman's prospects.
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Source Fool.com
