Warren Buffett sold again: $278 billion in cash
Warren Buffett's Berkshire Hathaway company, which came to the fore with its large Apple share sale in the past weeks, also sold in Bank of America, one of the most held shares. While Buffett was selling worth 982 million dollars, the value of the BoFa sale, which has been made since mid-July, was 5.4 billion dollars.
Dollar billionaire investor Warren Buffet, known for buying and holding the shares of big companies in the long term, Berkshire Hathaway company came to the fore again with a big sale. Buffet, which made sales close to 1 billion dollars ($982 million) of the shares of Bank of America, one of the largest banks in the USA, increased its cash value to 278 billion dollars.
According to the statement made by the company, 24.7 million BoFa shares were sold between August 23-27. Berkshire Hathaway, which started Bank of America investments in 2011, is still the largest investor in the bank despite all these sales. Berkshire Hathaway has a BoFa share worth $35.8 billion.
Is it waiting for the collapse?
Some experts and analysts claim that the expectation of a financial collapse is behind Buffet's decisions. However, a report on CNBC in recent weeks stated that Buffett thinks the US government will raise more capital gains tax to close financial gaps, so he is of the opinion that these sales will be more beneficial for Berkshire Hathaway shareholders.
Again, experts state that these sales are "too much" to save on tax. Therefore, clear information cannot be obtained about why Buffet still makes these sales, and no comments can be made.
Berkshire Hathaway announced $277 billion in cash assets in the second quarter. With the last BoFa sale, this figure increased to 278 billion dollars.
