Warren Buffett Just Sold This Stock -- But I Think He's 100% Wrong
We recently got a look at Berkshire Hathaway's (NYSE: BRK.A)(NYSE: BRK.B) updated stock portfolio when the company filed its latest quarterly disclosure. A few of the moves were already well-known, such as the sale of about half of its Apple investment and the addition of even more shares of Occidental Petroleum.
However, one move in particular that surprised me was the sale of a portion of Berkshire's investment in Capital One Financial (NYSE: COF). Berkshire sold about 2.65 million shares of Capital One, which equals a 21% reduction in the investment. Even after the sale, Berkshire still owns about $1.4 billion of the bank stock, so it isn't like Warren Buffett and his team have completely lost faith in the business. But it still surprised me, and not only because Berkshire only added Capital One to its portfolio for the first time about a year ago.
I'm often aligned with Buffett's moves. For example, I think the recent Apple sale was a smart idea, for a number of reasons. But I have to say that I disagree with him here. In fact, Capital One is at the top of my list of attractive bank stocks to buy right now.
Source Fool.com
Berkshire Hathaway Inc. A Stock
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