WARREN BUFFETT DUMPING BANK OF AMERICA (BAC STOCK)! WHY?

Why does Warren Buffett's Berkshire Hathaway keep dumping billions in Bank of America (BAC) stock? I suspect it's due to huge unrealized losses, a sizable uptick in loan loss provisions, and their increasingly losing market share. What do you think?

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[unrivaled]

With Berkshire Hathaway sitting on nearly $300 billion in cash, Buffett's decision to keep selling Bank of America (BAC) stock might surprise some investors. Let's dive into why this could be happening. Personally, I see much easier opportunities out there, which you can explore at www.unrivaledinvesting.com.

[suhpreme]

Havent heard anything about this, great post.

[a_anonymous_m]

I feel like legacy banks really don't provide any value compared to brokers and online banking. Long term they're just a middle man getting cut out.

[johndavenport]

Your not seeing behind the curtain which Buffet has. One word=Silver.

[cakeismtrader]

With Interest rates dropping that opens up better opportunities for him in under valued dividend growth companies like my favourite one right now Nike

[mattanonysaurousrex]

1. Technology disrupting banking is so exciting to me. If new tech driven banks can provide the same or better banking services with a fraction of the overhead costs, the value passed on to consumers is very direct. All that money goes straight into the economy! Good banking terms has long been something reserved for the ultra-wealthy. Now that changes! On the flip side, it will be a bad time to be a banker.
2. I respect Buffett's career, morals, and investing strategies. However, he is 94. Even extraordinary brains age. Please don't cancel me :) It's time people stop following what he does, and instead apply his shared advice philosophies to their own research.

[MrAnarchocapitalist]

If anyone wants a higher yield on their cash and doesn't want to switch to IB, they can put it in SGOV.

[trevorm]

It’s because cash is fricking melting dude and bonds are toast 🤮

[shirishgone]

I think may be he is preparing for a recession ?
Selling Apple, Selling BoFA, some of his best and biggest stocks this decade, signs something fishy to me.

[paulgrewal]

I think the idea is that once elections are over and people can’t afford their basic needs, we will need tons of support stimulus further pushing up inflation. The means unrealized losses shoot back up and hence, get out now