Warren Buffett Is Selling Apple and Bank of America and Piling Into This Beaten Down Value Stock Instead

As Warren Buffett approaches his 95th birthday, he remains one of the most well-respected investment managers in the world. That's readily evident in how Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) shares reacted to the news that he would step down as CEO of the company starting Jan. 1 next year.The stock has dropped about 10% since then, due almost entirely to its contracting valuation multiple. Seemingly, investors aren't willing to pay as much for Berkshire's operations and balance sheet without Buffett at the helm.But investors still have a few months left to follow Buffett's moves in Berkshire's publicly traded investment portfolio. The conglomerate continued to sell more stock than it bought in the second quarter, making it 11 straight quarters of net selling. Apple (NASDAQ: AAPL) and Bank of America (NYSE: BAC) were once again on the chopping block, but Buffett piled an estimated $2 billion into a beaten down value stock, making it one of his biggest purchases of the past year.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool