RE:FTN UNIT NAV to Nov 11 =$18.75 Premium now at 34 centsBK is looking attractive again, I will admit.
However, Mr Buffet doesn't seem to favor banks right now and Berkshire Hathaway has a lot influence on many investors.
- Warren Buffett's Berkshire Hathaway sold over 60% of its US Bancorp stock for about $4 billion.
- The investor's company has slashed its stake in the bank from nearly 10% to under 4% this year.
- Berkshire was a net buyer of stocks in the third quarter, but it has trimmed positions such as BYD.
Warren Buffett's Berkshire Hathaway has cashed in about $4 billion of US Bancorp stock, slashing its stake in the banking group by more than 60% in the space of four months.
The famed investor's conglomerate has sold 84 million shares of the US Bank's parent company since June 30, a Securities and Exchange Commission filing revealed Thursday.
Buffett's company has counted US Bancorp among its largest holdings since 2007, and owned 145 million shares worth $8.1 billion at the start of January. Now it holds just 53 million shares valued at $2.4 billion, reflecting its stock sales and the 22% drop in US Bancorp stock this year.