Berkshire Hathaway sells its shares in banks, buys interest in gold mines

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Berkshire Hathaway, the investment vehicle of the American super-investor Warren Buffett, has sold all its shares in Goldman Sachs Financial Fund. Interests in banks such as Wells Fargo and JPMorgan have also been significantly reduced, as evidenced by documents about the second quarter that were published on Friday nabeurs.

Buffett’s been known to shake up his stock portfolio. For example, earlier this year, investors sold out all their shares in four major airlines. The stake in JPMorgan has now been reduced by 62%. His share in Wells Fargo was reduced by over a quarter. Buffett’s interest in Goldman Sachs was already known in the past.

In contrast to the sale of the bank’s shares, the purchase of shares of gold producer Barrick Gold stood in opposition. By the end of the second quarter, Buffett had a stake in the company of $ 564 million. The investment in gold is somewhat striking, as Buffett a few years ago called for better investments.

Berkshire also sold all its shares in oil producer Occidental Petroleum.


By: Peretz M.

Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.

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