Warren Buffett Just Sold Most of His Stake in JPMorgan Chase. Should You?
Legendary investor and Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) CEO Warren Buffett followed up a big sell-off of bank stocks in the second quarter by again selling a portion of his bank holdings in the third quarter. Notably, Buffett sold off almost his entire stake in JPMorgan Chase (NYSE: JPM), America's largest bank, reducing his position in the second quarter from 22.2 million shares (valued at more than $2 billion) to less than 1 million shares worth about $93.1 million.
At the end of 2019, Berkshire owned more than 59 million shares of JPMorgan valued at nearly $8.3 billion. The Oracle of Omaha has really fallen out of love with the bank. Should you?
Let's take a look.
Source Fool.com
