RE:RE:FTN UNIT NAV to Nov 11 =$18.75 Premium now at 34 centsWell the selling satrted much before where i suggested it had, i only looked for spikes in volume in OCTOBER.
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.
Prior to its sales, Berkshire's cost base was $5.4 billion, or about $38 a share. US Bancorp shares traded around $45 a share between July 1 and October 31, the period when the vast majority of selling took place. Therefore, Berkshire likely made an 18% profit from its sales, or around $600 million.
Notice how they say LIKELY?
I can get the actual numbers from sedi filings. Not sure i care about it tho.