Buffett Dumped Entire $4 Billion Position in Exxon
February 18th, 2015Disclosure: I’m long one oil exploration and production company.
Via: Yahoo Finance:
The Warren watch is on. Warren Buffett revealed in a SEC filing yesterday that he sold his entire stake in Exxon Mobil (XOM) – roughly four billion dollars worth last quarter.
Investors like to pay attention to what the Oracle of Omaha is doing, given his success rate. Yahoo Finance’s Aaron Task says it’s a big deal that Buffett’s Berkshire Hathaway sold its entire stake. “I think he’s sending either a lack of confidence in Exxon’s management or no confidence that oil prices are going to rise very soon.”
