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Berkshire, which also sold shares of Moody's twice this summer, sold about 1.15 million shares this past Wednesday and Thursday. That netted Berkshire about $28.7 million, chump-change for the Omaha-based conglomerate.
Berkshire reports still owning about 38.07 million shares of Moody's after the sale, making it the firm's largest shareholder. Don't be surprised if Buffett continues to trim the stake.
In other Berkshire news, Barron's reports that the company is expected to report third-quarter earnings Monday after the market closes.
As was true in the second-quarter, Berkshire's earnings should continue to benefit from increases in global and domestic stock markets during the third quarter. That will help Berkshire's $5 billion in equity put positions, though the gains will just be on paper.
About the author:
Bill Freehling For gurufocus.com freehling@hotmail.com
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