Berkshire Hathaway sold $7.2bn in Bank of America stock, raising questions about rationale.
Warren Buffett's Berkshire Hathaway has sold $7.2 billion in Bank of America stock, raising questions about the decision. Possible reasons include reducing his stake below 10% to avoid reporting, raising cash for a potential recession, or questioning the bank's future as an investment. Despite mixed earnings and a recent interest rate cut, Bank of America remains valued with a P/E ratio of 14 and a 2.6% dividend yield. Investors should monitor its performance moving forward.
September 22, 2024
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