Advertisement
Canada markets close in 6 hours 19 minutes
  • S&P/TSX

    21,926.14
    +54.18 (+0.25%)
     
  • S&P 500

    5,033.43
    +22.83 (+0.46%)
     
  • DOW

    38,322.35
    +82.37 (+0.22%)
     
  • CAD/USD

    0.7300
    -0.0001 (-0.02%)
     
  • CRUDE OIL

    81.58
    -0.32 (-0.39%)
     
  • Bitcoin CAD

    90,807.64
    +623.16 (+0.69%)
     
  • CMC Crypto 200

    1,421.17
    +6.41 (+0.45%)
     
  • GOLD FUTURES

    2,327.10
    -19.30 (-0.82%)
     
  • RUSSELL 2000

    1,967.47
    +19.82 (+1.02%)
     
  • 10-Yr Bond

    4.6380
    +0.0150 (+0.32%)
     
  • NASDAQ

    15,535.79
    +84.48 (+0.55%)
     
  • VOLATILITY

    16.48
    -0.46 (-2.72%)
     
  • FTSE

    8,037.98
    +14.11 (+0.18%)
     
  • NIKKEI 225

    37,552.16
    +113.55 (+0.30%)
     
  • CAD/EUR

    0.6844
    -0.0006 (-0.09%)
     

Why Did Warren Buffett Sell Wells Fargo and Buy Verizon?

We recently got a glimpse at Berkshire Hathaway's (NYSE: BRK.A)(NYSE: BRK.B) stock portfolio as it stood at the end of 2020, and there were a few moves that surprised many investors. Two in particular are Warren Buffett's continuing disposal of Berkshire's once-massive Wells Fargo (NYSE: WFC) investment, and the decision to put billions of dollars to work in telecom giant Verizon Communications (NYSE: VZ).