Billionaire Warren Buffett Sold 34% of Berkshire's Stake in Bank of America and Is Piling Into a Beloved Consumer Brand That's Soared 7,600% Since Its IPO

Though Wall Street is home to more than a dozen prominent billionaire money managers, none captivates the attention of professional and everyday investors quite like Berkshire Hathaway's (NYSE: BRK.A)(NYSE: BRK.B) CEO Warren Buffett.Investors flock to the "Oracle of Omaha" for two reasons. First, he's crushed the benchmark S&P 500 since becoming CEO of Berkshire Hathaway six decades ago. Whereas the S&P 500 has delivered an impressive 40,633% return, including dividends, since the mid-1960s, Buffett has overseen a cumulative return in his company's Class A shares (BRK.A) that tops 5,815,000%, as of the closing bell on Feb. 14.Secondly, investors appreciate Buffett's candidness and open-book approach. Whether he's speaking to 40,000 people at Berkshire's annual meeting or writing his annual letter to shareholders, Berkshire's chief is willing to share the characteristics he looks for in wonderful companies.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool