Greg Abel Sold 15 Buffett Stock Positions in His First Quarter as Berkshire CEO. What His Early Portfolio Moves Signal for Shareholders.
Is this a one-time flex or a long-term strategy?
Overview
Well, that was fast. When legendary investor Warren Buffett stepped down as CEO of Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) on Dec. 31, many wondered whether his handpicked successor, Greg Abel, would play it safe for a quarter or two or jump right in with a bold move to differentiate himself from his predecessor.
Turns out Abel made not just one bold move, but 15 once he was in the CEO's chair. In just his first quarter as CEO, he sold 15 positions that Buffett initiated in their entirety, including some 15-year holdings. He also opened new positions in some stocks that weren't on anyone's radar.
Details
Here's what Abel's moves should tell Berkshire shareholders about the company's future.
Source
Originally published at www.fool.com.