Warren Buffett's Hand-Picked Successor, Greg Abel, Has 58% of Berkshire Hathaway's Portfolio Invested in Just 5 Dow Stocks. Here's My Top Pick for July.
Any of these blue chip stocks would be solid long-term picks. One of them, however, is especially underestimated right now.
Overview
If there was ever any question that Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB) believes in buying and holding high-quality blue chip stocks, this will wipe away any doubt: Over half of Berkshire's current stock portfolio consists of stocks that are also one of the 30 tickers that make up the Dow Jones Industrial Average.
Indeed, confidence in these names is so high that -- like his predecessor Warren Buffett -- current Berkshire CEO Greg Abel is OK with just five Dow stocks accounting for 59% of the conglomerate's stock portfolio's total value. That's a vote of confidence worth noting.
Details
And one of these five names is a particularly compelling prospect to consider buying this month.
Source
Originally published at www.fool.com.