Warren Buffett's Berkshire Hathaway sold off 84% of its stake in Goldman Sachs during the first quarter, according to a regulatory filing
New York Warren Buffett's Berkshire Hathaway sold off 84% of its stake in Goldman Sachs during the first quarter, according to a regulatory filing.
The conglomerate slashed its holdings in the investment bank to 1.9 million shares from 12 million shares, according to SEC filings released Friday. Goldman Sachs's share price plunged by almost a third during the first quarter as the novel coronavirus swept the nation. Berkshire Hathaway initially invested in $5 billion of preferred stock in the Wall Street firm in 2008, as a vote of confidence in Goldman Sachs at the height of the 2008 financial crisis.
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