Warren Buffett Is Selling Bank of America Stock and Buying This High-Yield Investment Instead

For many years, Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) Chief Executive Officer Warren Buffett was a dedicated financial industry bull. Berkshire resolutely held on to stakes in top sector companies in its equity portfolio, in some instances for decades.One of the more recent Berkshire plays in the sector was its acquisition of Bank of America stock, an eventful tale I'll only touch on briefly here. The executive summary is that Berkshire started selling off this considerable holding in 2024. Meanwhile, one of the few companies Berkshire has bought during the past few months is a far more low-key company that pays a surprisingly generous dividend.In 2011, Berkshire piled into Bank of America in a splashy deal that saw it obtain big stacks of the lender's preferred stock and warrants. Before long, those warrants converted into Bank of America common shares, the securities Berkshire has been unloading for more than a year now. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool