Warren Buffett Dumps $10B in Bank of America (BAC): But Why?
One of the most prominent investment minds in the world, when Warren Buffett makes a move, Wall Street listens. The Berkshire Hathaway CEO is not called the Oracle of Omaha for nothing and has helped direct the path of many an investor during his day. Now, his latest move is driving some intrigue, as Warren Buffett has dumped more than $10 billion in Bank of America (BAC) stock. Now, the biggest question is why? Since the middle of July, Buffett’s Berkshire has been unloading the banking stock. Just last week, the investment firm embraced a 16th round of selling, this time offloading almost $370 million in shares. Now, their stake in the company has dropped below 10%. Source: Reuters Also Read: Is Apple (APPL) the Best Stock in Warren Buffett’s Portfolio? Buffett’s Berkshire Keeps Dumping Bank of America as Stake Falls Both Warren Buffett and his Berkshire Hathaway investment firm have continued to be one of the most prominent investors on Wall Street. They own more than 45 ...