"...It is possible that simple profit-taking is the motive behind this 21% reduction in Berkshire's stake in Bank of America over the last 10 weeks...
....but there may be something far more menacing behind Buffett's aggregate $9 billion in sales of BofA stock."
"...He's frequently opined that investors should never bet against America, which is precisely why you won't see him or his investing lieutenants, Ted Weschler and Todd Combs, short-selling stocks or buying put options.
However, Buffett's optimism isn't blind.
Although he fully understands that economic cycles aren't linear and the U.S. economy spends a disproportionate amount of time expanding, relative to contracting, he's not willing to chase stocks higher if he doesn't see value or can't locate plain-as-day bargains.
Over the previous seven quarters (Oct. 1, 2022 to June 30, 2024), Buffett has been a decisive net seller of equities to the tune of $131.6 billion.
Although Berkshire won't file its 13F with the SEC for the September-ended quarter until Nov. 14, SEC Form 4 filings provide strongevidence that this net selling activity is set to continue for an eighth straight quarter.
On Sept. 24, Buffett's company filed a Form 4 showing that roughly 21.56 million shares of Bank of America(NYSE: BAC), worth about $862.7 million, were sold.
However, this sale of Berkshire Hathaway's third-largest holding by market value wasn't an isolated incident.
Since July 17, Buffett has sold shares of Bank of America during 33 separate trading sessions, with the cumulative market value of these sales nearing $9 billion.
A position that once stood at more than 1.03 billion shares owned has been whittled down to 814.35 million shares, as of Sept. 24..."
Sept 9, 2024
fool.com/investing/2024/09/0…
Sept 28, 2024
fool.com/investing/2024/09/2…
🚨BREAKING: Warren Buffett throws another ~11.5m
$BAC shares back in the market cashing out another half a billion$
⚠️ ‼️ 🚩: Warren is now ~20m
$BAC shares away from falling below 10% ownership and not being required to report these sales promptly anymore
Guess what comes next