Warren Buffett Reduces Stock In Capital Goods Entities, Shows 2010 Regulatory Filing
November 16th, 2010 - 8:17 pm ICT by GDBy Ranjan Bhaduri
Nov 16, (THAINDIAN NEWS) Warren Buffett led Berkshire Hathaway has sold its shares in capital goods, consumer durables and industrial sector in the third quarter of this year. A regulatory filing on Monday provided a sneak peak intro the latest moves of the billionaire. He does not hold stakes in some entities including Home Depot and Carmax. He has trimmed the portfolio of his company since the economic crisis that grabbed the US economy by neck in 2008. Thereafter he shifted his focus on purchasing new companies. Berkshire Hathaway did not report any stocks in power company NRG Energy and Iron Mountain. In both the entities it had stocks in the second quarter.
Warren Buffet is known as the most famous stock picker of the recent times and his moves are watched by the industry veterans with interest. In the third quarter of the year he diminished his stocks in consumer as well as capital goods companies but at the same time took new stake in banks. He also deceased his stock in Procter & Gamble. Berkshire HathawayInc took a stake in the Bank of New York MellonCorp valued at $52 million. He also increased his investment in Johnson & Johnson.
Berkshire Hathaway trimmed its stake in the world’s biggest consumer-products company P&G based in Cincinati by 1.7 percent. Holdings of the biggest U.S. cable-television company Comcast corp fell by as much as 98 percent. Philadelphia-based Comcast incidentally is led by Stephen Burke a director at Berkshire. However, the billionaire investor had earlier informed the analysts that not all moves taken by Berkshire are not under his discretion.
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Tags: bank of new york, berkshire hathaway, cable television company, capital goods, carmax, cincinati, comcast corp, consumer durables, economic crisis, home depot, industrial sector, industry veterans, iron mountain, nrg energy, procter amp gamble, ranjan, sneak peak, stock picker, warren buffet, warren buffett