Prediction: Greg Abel Will Continue Holding This Berkshire Hathaway Stock That Warren Buffett Backed for Decades.
It's one of Buffett's favorites, and it will likely be an Abel favorite, too.
Overview
There are three stocks that Warren Buffett has said he'd never sell: Coca-Cola (NYSE: KO), American Express, and Apple. However, that was when he controlled Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB). Now that he has taken leave of the CEO role, anything is fair game for new leader Greg Abel.
However, Abel has reassured shareholders that he's not looking to shake things up. He did promise to concentrate the portfolio in a smaller number of high-conviction stocks, and he came through in the first quarter, selling off 16 of the portfolio's smallest positions.
Details
But he kept the big three, and Coca-Cola has already demonstrated its worth by soaring 11% after its second-quarter earnings release on July 28. Here's why I think he's going to keep on holding it.
Source
Originally published at www.fool.com.