Warren Buffett's holding company, Berkshire Hathaway, has filed its latest quarterly report with the SEC, for the period ended December 31.
The filing shows that Berkshire sold its entire position in Bank of America. The firm sold 5,000,000 shares with a current value of $74.45 million. It is not entirely clear how much input Buffett had in the decision, since the position was fairly small and GEICO's stock picker Lou Simpson is often the sole decision maker on those buy and sells.
However, it is interesting that at the same time Berkshire was unloading B of A stock, Buffett increased his Wells Fargo position by 2% to 342.6 million shares, a total postion that is currently worth approximately $11.6 billion....MORE
Monday, February 14, 2011
Yikes!! Berkshire Hathaway Sells Entire Bank of America Stake! (BAC; BRK.B)
From Economic Policy Journal: