Warren Buffett Dumps Stake in Bank of America, Comcast, Nike, Lowe's

Warren BuffettWarren Buffett's company sold off several of the smaller investments in its $53 billion U.S. stock portfolio during the fourth quarter, including Bank of America (BAC), Comcast (CMCSA), Nike (NKE), and Lowe's (LOW).

Berkshire Hathaway Inc. revealed a number of changes in its holdings Monday in documents filed with the Securities and Exchange Commission. The documents list the U.S. stocks Berkshire held on Dec. 31, but don't offer any explanation for changes in the holdings, which might be tied to the retirement of one of Berkshire's investment managers.

Officials at the Omaha-based company Buffett leads as chairman and CEO said no one was immediately respond to a request for comment Monday, but they don't typically comment on the company's stock holdings beyond what it is legally required to disclose.

Monday's filing does not differentiate between investments Berkshire makes, investments any of roughly 80 subsidiaries make, or investments Buffett himself makes.

It's not clear whether the changes in Berkshire's portfolio were linked to the retirement of Lou Simpson at the end of 2010. Simpson ran investments for one of Berkshire's biggest insurers, Geico, and he was one of the few people at Berkshire not named Buffett who was making investment decisions.

Buffett has said that Simpson's investments were usually between $200 million and $300 million, and all of the investments eliminated in the fourth quarter fit that description.

Berkshire sold off 5 million shares of Bank of America Corp., 187,000 Comcast Corp. shares, 6.5 million Lowe's Cos. shares and 3.6 million shares of Nike Inc.

Berkshire also unloaded 1.9 million shares of Becton, Dickinson & Co. (BDX), 3.9 million shares of Fiserv Inc. (FISV), 6.1 million shares of Nalco Holding Co. (NLC) and 3.4 million shares of Nestle (NSRGY).

And Berkshire reduced its stake in Bank of New York Mellon Corp. (BK) just three months after it revealed a new investment of nearly 2 million shares in the bank. At year end, Berkshire held 1.79 million shares of BNY Mellon.

Besides investments, Berkshire owns more than 80 different subsidiaries, including clothing, insurance, furniture, utility, jewelry and corporate jet companies.

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Major Fraud Alert

The entire Federal Banking System under FirstGov has been "Consumed" and "Levied" by way of a Maryland State Circuit/District Court Ruled “Appropriation and Garnishment” of all Future Earnings prior to and after 2004 against Bank Of America by way of the F.D.I.C. Regulations Prohibiting failing Banks from Merging with other failing Banks between the Dates of 08/04/08 and 10/09/09.

Bank of America violated the 21st Century Act: Final Amendments to Regulation CC Section: http://www.federalreserve.gov/boarddocs/press/bcreg/2004/20040726/attachment.pdf

seeking reimbursement of Credit, Loan, and Finance Balances as a "Bank Entity" and not a "Nonbank Consumer" as specified on Pages 85 and 86.

The person they sued through a LLC. Debt Collection Company and Law Firm was the "World Fortune Owner" who "Counterclaimed" and won.

Now all Contracts of any Corporations (Including Employment) under the "Controlling Interest" of any Investment Bank Worldwide are "Null and Void", and are also under the stipulated Rules and Regulations of an "Closely-held S Corporation rendering all Employed under Legal Actions against “Domination”, and also means that "No Corporation can hold Shares" (Proving Warren Buffetts claims of Corporate Stock purchases Fraud) officially making every Stock Exchange on the Planet a "Ponzi Scheme" by default.

Businesses owned by the States (Public Corporations) are being sold Stock Shares by Corporations also under the Federal Banking System in this Worldwide "Ponzi Scheme". The World Fortune Company Merrick Inc. Sweden is dissolving Millions and Billions of Dollars from "All Levels of Government"in the U.S. of Financing based upon Years of "negligent inaction" involving this case.

The Federal Government has already been forced to discontinue supplying the Financing States use to pay their debts, Persons in Government Offices may want to begin to take their jobs more seriously, these are different times from 10 Years ago and you will not be accepted civil servants here just because you say you are here to do the right thing.

May 29 2011 at 1:22 AM Report abuse rate up rate down Reply

Does anyone find it interesting that Warren is dumping bank stocks a day before Bernie Madeoff claims the banks new his PONZI scheme? RICO and collusion -- It's time to throw them all in jail.

February 16 2011 at 12:15 PM Report abuse -1 rate up rate down Reply

LOL...the agony of defeat ?..LOL

February 16 2011 at 10:04 AM Report abuse +1 rate up rate down Reply

After many years with Bank of America with great standing they froze all my credit and operational business accounts due to thier own financial mistakes. It cost me my business. One of their staff outright lied to one of my parnters. They were corrupt, dishonest and in no way helpful to one of their long term customers.

I would never ever deal with them again and avoid all businesses who do.

February 16 2011 at 6:17 AM Report abuse +2 rate up rate down Reply

BOFA OF 1 OF THE MOST CORRUPT. The Illegals like it, because they can cash checks there. Right BOFA?????????????????????????????????????????????????????????

February 16 2011 at 1:38 AM Report abuse +7 rate up rate down Reply

Whats A Clean Man Like Buffet Doing With A DIRTY BANK LIKE BOFA !

February 16 2011 at 1:35 AM Report abuse +6 rate up rate down Reply

Like i said look at silver to hit 50 bucks a oz. this year, better get some before its to high for a good return.

February 15 2011 at 11:58 PM Report abuse +2 rate up rate down Reply

Few years ago Buffet bought TONS of silver at 9 to 10 bucks a OZ. wonder if he still has it ? That same buy in silver has made him a 3/4 return in a very short time frame if he sold it today, spot silver is over 30 bucks a oz. as of today, so 20 bucks a oz. and times it to the tones he bought you do the math not a bad paycheck if he dumbed it in 2011. Even fat cat buffet has some metal in his money pool a few tons of it.

February 15 2011 at 11:56 PM Report abuse rate up rate down Reply

Let's get the Federal Government out of the home mortgage business, health care, our schools and everywhere else that we don't need them poking their ugly noses into our business. Smaller, controlled government means more freedoms and opportunities for all it's citizens. Big government means more oppression and less freedoms for each and every person to pursue their life dreams and ambitions. The evil, ultra rich want a Mexican style Socialism where they destroy the middle class, so they have all of the wealth and power and everyone else is poor, working for them.

February 15 2011 at 10:51 PM Report abuse +9 rate up rate down Reply
1 reply to surfr45's comment

Unfortunately, the people in this country have lost control of their government. What is not legislated will now be regulated with the structure that is now set in place. People have finally had enough and are starting to complain about big government "poking their noses into our business" as they express a desire for smaller government with more "freedoms and opportunities for all it's citizens". I am of the cynical opinion that it's much too late and it's no longer possible to return to the representative form of government designed by our country's founders.

February 15 2011 at 11:24 PM Report abuse +3 rate up rate down Reply

B of A, Chase, Citi and Wells Fargo should all parish. If they did, the money people like Buffett would suffer greatly, which is why they are labeled "too big to fail". Wall Street is rigged for the wealthy.

February 15 2011 at 10:46 PM Report abuse +5 rate up rate down Reply
1 reply to leemar48's comment

Why needlessly make a comment like that?...we excuse "typos" around here wise guy!

February 15 2011 at 11:27 PM Report abuse rate up rate down Reply