It's Time to Sell 1 of Warren Buffett's Favorite Stocks in 2022
Warren Buffett is one of the greatest investors of all time, so it certainly grabs your attention when he has held a stock for almost 60 years. Credit card company American Express (NYSE: AXP) has become one of Warren Buffett's most significant holdings -- the stake is worth roughly $25 billion and is more than 8% of Berkshire Hathaway's portfolio, Buffett's holding company.
But the past can't speak for the future, and there are numerous signs that American Express could be past its glory days. Here are three reasons why 2022 could finally be the year to sell American Express.
Warren Buffett originally bought his stake in American Express in the early 1960s when the young company got caught up in a Salad Oil scandal that scared the market. He purchased 5% of the company for approximately $20 million, a stake that is worth billions today.
Source Fool.com
