Is Greg Abel Betting on Lower Interest Rates? The Berkshire Hathaway CEO Just Trimmed Bank Stocks Like Bank of America and Bought 3 Stocks That Would Benefit From Lower Yields.
Bank don't necessarily thrive amid low interest rates.
Overview
Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) has now revealed two full quarters of stock purchases and sales since Greg Abel became chief executive officer of the enormous conglomerate. He's stepping into the large shoes left by Warren Buffett, who remains executive chairman of the company and actively involved in stock picking, according to various reports.
Abel has not been afraid to shake things up, quickly making Alphabet one of the largest stocks in the portfolio and buying and selling many other stocks. In the second quarter, Berkshire trimmed many of its bank stocks, including Bank of America, while increasing or adding new positions in companies that can benefit from lower yields.
Details
Is Abel betting on lower interest rates?
Source
Originally published at www.fool.com.
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