Yesterday at NYSE closing Warren Buffett’s investment monolith Berkshire Hathaway dissolved all of its Bank of America shares. Add that to the pile of holdings Buffett has dropped this quarter, and Berkshire’s portfolio saw a $4B gain in the three months between September 2010 and the end of December.
From RTTNews:
In addition, the Oracle of Omaha offloaded all his shares in Nalco Holding Co. (NLC), Nike Inc. (NKE: News ), Nestle (NSRGY.PK), Fiserv Inc. (FISV), Lowe’s Companies Inc. (LOW) and Becton Dickinson & Co. (BDX).
Buffett is well known for trading huge numbers only after careful deliberation. In an interview released last week, the Financial Crisis Inquiry Commission quoted Buffett as criticizing Bank of America for paying a “crazy price” to acquire Merril Lynch in the midst of a financial crisis.
Until an audit subjects the Federal Reserve to transparent decisionmaking, private investments point a clearer path to what paths the public expects will be profitable in the years to come. The Fed may shift interest, but Berkshire Hathaway deals in real dollars.
Cross your fingers for Chevy’s Volt, kids, because BofA is one national investment looking dismal this week.
