• Berkshire Hathaway is adjusting its stake in two of the leading financial firms.
  • It has sold off shares of both JP Morgan and Goldman Sachs.
  • This comes just weeks after the financial conglomerate said it sold all of its stake in the airline industry.

Warren Buffett’s investment firm Berkshire Hathaway is still realigning its portfolio amid the economic turmoil caused by the coronavirus pandemic.

The conglomerate’s choices are often used to gauge the state of the market.

Recent SEC filings show that Buffett’s Berkshire Hathaway has adjusted its stake in two of the leading financial firms [Fox Business].

Berkshire Hathaway has cut its share of Goldman Sachs by a stunning 84%, from 12 million shares to 1.9 million. It has also slashed its holdings in JPMorgan by 1.8 million but still holds a large position.

Berkshire Hathaway made headlines earlier this month for selling all of its U.S. airline shares and previously held shares in four of the largest U.S. airlines. In a statement made on May 3, Buffett said he was wrong to invest in the airline industry [BBC].

Many are interpreting Hathaway’s recent selloff of JPMorgan and Goldman Sachs shares as evidence that the financial conglomerate is expecting more market downside in the months ahead.

Anton Lucian

Raised in the U.S, Lucian graduated with a BA in economic history. An accomplished freelance journalist, he specializes in writing about the cryptocurrency space and the digital '4th industrial revolution' we find ourselves in. Email.

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