2 Financial Stocks to Buy That Berkshire Hathaway Kept While Selling Visa and Mastercard
Warren Buffett will go down in history as one of the best investors of our time. Over a 60-year career leading Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB), Buffett time and again outperformed the stock market, and his investment philosophies have been closely watched and emulated for generations.
But the company under Buffett, and his successor, Greg Abel, isn’t afraid to make big moves. Berkshire closed several positions in its portfolio this year, including selling its entire stake in credit card giants Visa and Mastercard. But it’s not completely out of the credit business. It still has significant stakes in two companies that operate under different umbrellas in the credit space — American Express (NYSE: AXP) and Moody’s (NYSE: MCO).
Berkshire Hathaway holds 22% and 14% stakes in these two credit stocks. And both are prototypical Berkshire holdings in the style of Buffett — with reliable earnings, competitive advantages, and businesses that can grow over decades. Let’s take a closer look at them both.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.