Warren Buffett Is Selling Bank of America Stock and Buying This High-Yield Investment Instead

Warren Buffett is one of the most widely respected investors in the world. And there's a good reason. With nearly 70 years investing in the public eye, he's produced incredible returns for anyone willing to invest alongside him. He recently saw the value of Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) surpass $1 trillion. It's come a long way from the $22 million company Buffett took over in 1965, largely on the back of Buffett's investment prowess.Today Buffett and his fellow investment managers oversee about $600 billion in investable assets for Berkshire Hathaway shareholders. And when Buffett makes a move in Berkshire's portfolio, the entire investing world pays attention.The Oracle of Omaha's most recent move is to sell off a portion of Berkshire's investment in Bank of America (NYSE: BAC). The bank stock was once Berkshire's second-largest position after Apple (NASDAQ: AAPL), but Buffett is selling it and likely buying this high-yield investment instead.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool