This Is One of the Only Bank Stocks Buffett Hasn't Sold
The recent banking panic caught a lot of investors off guard. The sector is going through its biggest shake-up since the 2008 financial crisis after the Federal Reserve implemented one of its quickest rate-hiking cycles ever.
However, some investors saw this coming and have sidestepped the recent troubles that hit banking stocks. You might not be surprised to hear that legendary investor Warren Buffett was among this select group.
The Oracle of Omaha has sold a lot of his bank holdings from his portfolio at Berkshire Hathaway (NYSE: BRK.B). Aside from its monster $30 billion position in Bank of America -- a company that is likely benefiting from this industry turmoil -- Berkshire has greatly reduced its exposure to the troubled sector.
Source Fool.com
Berkshire Hathaway Inc. A Stock
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