Is Warren Buffett Giving Up On Bank Stocks?
We recently got our quarterly glimpse at what Berkshire Hathaway's (NYSE: BRK.A) (NYSE: BRK.B) stock portfolio looks like, and to say that there were some big surprises would be a huge understatement.
Perhaps the most surprising move is that Warren Buffett (who controls the bulk of the portfolio) decided to sell some of Berkshire's bank stocks. And not just one or two. Buffett sold all or some of no less than nine different financial sector positions. Buffett has been a big fan of bank stocks as an investment vehicle for a long time, and added heavily to some of Berkshire's bank investments in recent years.
These moves prompt the question: Is the Oracle of Omaha giving up on the banking industry?
Source Fool.com
