He accused lenders of excessive risk-taking and deceptive accounting during Berkshire's recent annual shareholder meeting, and said the banking business was less attractive now than in the past.īurry's purchases were more unexpected, given his since-deleted tweets about the banking debacle. It's little surprise that Buffett exited two bank stocks last quarter. In contrast, Burry's fund added First Republic, Pacific Western, Western Alliance, New York Community Bank, and Huntington Bank to its stock portfolio. Buffett's conglomerate exited its bets on BNY Mellon and US Bancorp last quarter, after slashing both positions in the fourth quarter of last year. However, Berkshire and Scion took different tacks when it came to other bank stocks. Their teams likely determined that Capital One shares, which have roughly halved in price since August 2021, were a bargain and worth buying. Buffett and Burry - best known for his starring role in the book and movie "The Big Short" - are both value investors who specialize in identifying and buying underpriced stocks.
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