Billionaire Bill Ackman's Hedge Fund Just Bought These 2 Financial Stocks That Warren Buffett-Led Berkshire Hathaway Sold in Q1. Here's What History Says Investors Should Do.
Even among high-powered investment experts, one man's trash can be another man's treasure.
Overview
Greg Abel became the CEO of Berkshire Hathaway at the start of this year. He didn't wait long to start making adjustments to the portfolio.
During the first quarter, the conglomerate exited its multibillion-dollar positions in Visa (NYSE: V) and Mastercard (NYSE: MA). These businesses, which were longtime holdings, were first purchased over a decade ago, when Warren Buffett was still CEO.
Details
One man's trash is another man's treasure. Billionaire Bill Ackman's hedge fund, Pershing Square Capital Management, bought these financial stocks during the three-month period that ended June 30. These two companies are part of a portfolio that owns 15 positions in total.
Source
Originally published at www.fool.com.