Greg Abel Just Broke Berkshire's 14-Quarter Streak of Net Stock Sales, Buying a Net $20 Billion Last Quarter. What That Reversal Means for Berkshire's Portfolio.
Greg Abel began using Berkshire Hathaway's cash hoard, suggesting that the portfolio may be where he wants it.
Overview
Warren Buffett's retirement from the position of CEO of Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB) was well telegraphed. The company had been preparing for Greg Abel to assume the CEO role for years. That included Buffett building up the company's cash position, leaving Abel with a buffer against adversity and ample firepower if he wanted to make any big moves.
In truth, Abel hasn't yet made any major moves, but there was a subtle shift in the second quarter worth noting: Berkshire Hathaway went from a net seller of stocks to a net buyer. Here's what it could mean.
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Originally published at www.fool.com.
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