"For years, the " Oracle of Omaha" has had a rock star-like presence in the investing world, and his annual Berkshire Hathaway Inc. ( NYSE: BRK-B) shareholders meeting draws thousands of loyal investors. They were stunned at this year's meeting when Buffett announced he would step down as CEO of the investment giant at year's end. While he will remain board chair and continue to have a voice in the day-to-day operations, his pre-announced successor, Greg Abel, will assume the CEO position as of Friday."
"Long-time investors and Buffett mavens know that he favors holding S&P 500 stocks forever. So it's not surprising to report that, for all the success and stature Berkshire Hathaway has in the investing world, five top companies make up almost 64% of the fund's total holdings. While much more concentrated than most portfolio managers would ever consider, the strategy has worked for Berkshire Hathaway investors for years. It is likely to continue doing so in the future."
Warren Buffett will step down as Berkshire Hathaway CEO at year-end while remaining board chair and retaining influence over operations. Greg Abel will assume the CEO role. Berkshire Hathaway's equity portfolio is highly concentrated, with five companies representing almost 64% of total holdings. The portfolio emphasizes long-term holdings of S&P 500 stocks and focuses on large, dividend-paying companies. The concentrated, dividend-oriented strategy has produced strong long-term results for investors and is expected to persist under new CEO leadership. American Express is identified as one longstanding holding likely to stay in the portfolio.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]