No. of Recommendations: 2
This hurt the stock today in case anyone has any interest.
"Berkshire Missed the Bank Rally. Few of Its Stocks Are Truly ‘Forever.’" Barrons.
" Key Points
About This Summary
Berkshire Hathaway’s sale of bank stocks, including Goldman Sachs and Wells Fargo, resulted in over $50 billion in lost potential profits.
Berkshire Hathaway reduced its Bank of America stake by over 40% in 18 months, now holding 568 million shares worth about $30 billion.
Notable winning investments include Japanese trading companies, which cost $15 billion and are now worth nearly $40 billion.
Berkshire Hathaway’s
BRK.B
+0.14%
worst investment move in the past decade probably was its sale of bank stocks, with the company leaving more than $50 billion on the table in potential profits, Barron’s estimates.
The surge Thursday in Goldman Sachs
GS
-1.42%
to a new high after its fourth-quarter profit release underscores that mistake.
At the end of 2019, Berkshire held sizable stakes in six of the top 10 banks in the country— Bank of America, Bank of New York Mellon, Goldman Sachs, JPMorgan Chase, U.S. Bancorp and Wells Fargo."
