Abel significantly reduced the company’s Bank of America position. Berkshire had long viewed Bank of America as one of its most valuable financial holdings. This shift indicates that Abel probably no longer sees it as a bargain. And on a broader level, it’s clear that Abel wants less concentration in sectors vulnerable to economic slowdowns.
Abel has been leaning further into international investments — especially Japanese stocks.
since many Japanese companies trade at lower valuations than comparable U.S. businesses.
Abel also repurchased about $234 million worth of Berkshire shares earlier this year, signaling confidence in the company and its long-term prospects.
A new sheriff is in town.