Why Is Buffett Selling Bank Stocks If He Loves the Industry So Much?
There's probably not a more revered or successful investor than Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) CEO Warren Buffett. The Oracle of Omaha, as he's come to be known, began investing at the age of 11, and since the 1950s has grown his net worth from around $10,000 to a hearty $70 billion. He's also absolutely trounced the broader market for the past five-plus decades, with the benchmark S&P 500 returning 19,784%, including dividends, between 1964 and 2019, and Berkshire Hathaway's per-share market value increasing a tidy 2,744,062% over the same time frame!
Suffice it to say that when Buffett speaks or makes a move in his company's investment portfolio, Wall Street and retail investors tend to pay very close attention.
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Source Fool.com
