Greg Abel Makes Bold Portfolio Moves as Berkshire's New Leader -- Dumps Amazon While Buying an Airline Stock
The new CEO has shown a willingness to go in his own direction, but you shouldn't necessarily follow blindly.
Overview
Greg Abel took over as Berkshire Hathaway's (NYSE: BRKA) (NYSE: BRKB) CEO at the start of the year. Despite taking the reins from legendary investor Warren Buffett, he has shown he's willing to go his own way with capital allocation decisions.
Abel has made many changes to Berkshire's investment portfolio in the first quarter. This includes selling its entire stake in Amazon (NASDAQ: AMZN) while initiating a position in Delta Airlines (NYSE: DAL).
Details
You should never blindly follow any investor, but it's noticeable when a company with a long and successful investing track record makes changes, even if someone else is in charge. That makes this an opportune time to examine both companies more closely.
Source
Originally published at www.fool.com.