Berkshire Hathaway's Bank of America stake has finally been cut to below the key 10% threshold, keeping Warren Buffett's next potential moves under wraps for a few months.
The first 700 million shares had a low cost basis of only about $7 per share, while the average cost of the next 300 million shares was in the $30s, Goldberg estimated.
"When we sell something, very often it's going to be our entire stake," Buffett said in 2020 when he entirely dumped his holdings in airlines.
Still, Buffett sounded negative towards banking following 2023's regional bank crisis that took down Silicon Valley Bank, Signature Bank and First Republic Bank.
It's gotten changed by [the regional bank crisis].
Persons:
Warren Buffett's, Brian Moynihan, Jason Goldberg, Buffett, Goldberg, It's, That's, digitalization, fintech, Goldman Sachs, Wells
Organizations:
Berkshire Hathaway's Bank of America, Bank of America, Barclays, Federal, Bank, Signature Bank, First Republic Bank, JPMorgan, U.S . Bancorp
Locations:
Berkshire, Charlotte, Wells Fargo, U.S