What’s Warren Buffett selling now?
Warren Buffett has trimmed Berkshire Hathaway Inc.'s portfolio since the 2008 financial crisis and instead focused on buying whole companies. The 80-year-old chairman shuffled his holdings in the third quarter as he welcomed hedge-fund manager Todd Combs. Lou Simpson, 73, once identified by Buffett as his emergency stand in, is scheduled to depart at yearend from Berkshire's Geico unit.
“It looks to me like he's selling out of the Lou Simpson holdings,” said Gerald Martin, a finance professor at American University's Kogod School of Business in Washington. Buffett may be amassing funds for Combs to invest “or he may have something up his sleeves, a potential acquisition somewhere and he's building the cash for that,” Martin said. Here's what the Oracle of Omaha's been selling of late.
[Text by Bloomberg News; data based on regulatory filing]