Probably a good time to go Cash, like the G.O.A.T himself: Warren Buffet

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Warren Buffet again on Friday offloaded Bank of America shares. This seventh round of share sales since July, brings the total sales to $6 billion in the 2nd largest bank in the U.S. and 5th largest bank in the WORLD. What does Buffet know, and is the thumb war about to begin?

Billionaire Warren Buffett’s Berkshire Hathaway has once again cut its stake in Bank of America with a share sale worth roughly $845 million, a regulatory filing showed on Friday.

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The conglomerate run by one of the world’s most revered investors has offloaded shares worth more than a combined $6 billion in the second largest U.S. bank in seven rounds of share sales since July.

Berkshire, BofA’s top shareholder, disclosed that it had sold roughly 21.1 million shares of the bank between Aug. 28 and Aug. 30.

Buffett started investing in the bank in 2011 when Berkshire bought $5 billion of preferred stock. That purchase signaled his confidence in CEO Brian Moynihan’s ability to restore the lender to health following the 2008 financial crisis.

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https://money.usnews.com/investing/news/articles/2024-08-30/billionaire-buffett-again-sells-bofa-shares-worth-about-845-million