Buffett Cuts BofA Stake, Unloading $3 Billion This Month
- Berkshire Hathaway disclosed third sale of BofA shares in July
- The firm started building an investment in the bank in 2011
Warren Buffett
Photographer: Houston Cofield/BloombergThis article is for subscribers only.
One year after Warren Buffett called his multibillion-dollar bet on Bank of America Corp. an investment worth keeping, he’s selling it down.
Buffett’s Berkshire Hathaway Inc. disclosed its third disposal of shares this month — paring its massive, profitable stake in the lender by a total of more than $3 billion.