2020-5-19 13:15 |
Warren Buffett’s investment firm Berkshire Hathaway is still realigning its portfolio amid the economic turmoil caused by the coronavirus pandemic.
The conglomerate’s choices are often used to gauge the state of the market.
Recent SEC filings show that Buffett’s Berkshire Hathaway has adjusted its stake in two of the leading financial firms [Fox Business].
Berkshire Hathaway has cut its share of Goldman Sachs by a stunning 84%, from 12 million shares to 1.9 million. It has also slashed its holdings in JPMorgan by 1.8 million but still holds a large position.
Berkshire Hathaway made headlines earlier this month for selling all of its U.S. airline shares and previously held shares in four of the largest U.S. airlines. In a statement made on May 3, Buffett said he was wrong to invest in the airline industry [BBC].
Many are interpreting Hathaway’s recent selloff of JPMorgan and Goldman Sachs shares as evidence that the financial conglomerate is expecting more market downside in the months ahead.
The post Warren Buffett’s Berkshire Hathaway Sells Off Huge Stake in Goldman Sachs, JPMorgan appeared first on BeInCrypto.
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