Charted: Buffett's BofA bet
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Warren Buffett is cashing in on his big Bank of America bet.
Why it matters: The Oracle of Omaha's investment decisions, via Berkshire Hathaway's vast portfolio, are widely followed and often mimicked.
Between the lines: Berkshire sold BofA shares for nine straight business days through Monday for more than $3 billion, according to a series of SEC filings.
- Berkshire sold the shares for a range of $41.20–$44.07 from July 17 through July 29.
- The stock is up about 29% over the last year.
Context: "The sales mark Buffett's biggest pullback from a bet that has long served as a prominent vote of confidence in the stewardship of Bank of America Chief Executive Officer Brian Moynihan," Bloomberg reported.
Yes, but: Even after the sales, Berkshire still holds 961.6 million shares, which is worth nearly $40 billion, according to an SEC filing.
