Berkshire Hathaway's CEO Greg Abel Sold $8.1 Billion in Stocks in Q1 ... a Sign He Sees Few Bargains. Did That Change in Q2?
Berkshire recently released its second-quarter report, updating its message on whether there are any stocks worth buying at their current valuations.
Overview
It's been one of the bigger narratives regarding Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) for a while now. That is, the conglomerate's been piling up more and more idle cash by selling more stocks than it's been buying for its equity portfolio. Through Q1 of this year, in fact, Berkshire's done so for 14 consecutive quarters.
It's a sign that, for a while now, CEO Greg Abel and his predecessor Warren Buffett have seen little worth owning at the price being asked. This, of course, has implications for all investors.
Details
There's a glimmer of hope on the horizon, though. During the company's second fiscal quarter ending in June, Berkshire finally bought more stock for its equity portfolio than it sold, suggesting there are bargains out there worth buying into.
Source
Originally published at www.fool.com.