Thread: Warren Buffett

When It Comes to JPMorgan, Warren Buffett Isn’t Buying the Spin from the Fed and the Street

Warren Buffett, Chairman and CEO of Berkshire Hathaway, is apparently not buying the story that Powell is attempting to sell to the public. According to Berkshire Hathaway’s 13F filing with the Securities and Exchange Commission for the quarter ending June 30, 2020, Buffett dumped 35.5 million shares of JPMorgan Chase or 61.5 percent of his 57.7 million share holding in the bank.

Buffett also dumped the remainder of his position in Goldman Sachs, which amounted to 1.9 million shares. Buffett had already exited 84 percent of his shares of Goldman Sachs in the first quarter of the year.

https://wallstreetonparade.com/2020/...nd-the-street/

Puzzling, he's buying more BAC though.

For the Buffet fans, his latest filing shows he nearly completely unloaded WFC and PNC. Sold 40% of his previously disclosed stake in GOLD (which the bugs were surely hoping he'd have been buying more of), and purchased MRK, ABBV, PFE, BMY, clearly spreading his bets on a vaccine.