Big Investors Get Bearish on Banks
NEW YORK (
) -- Some of the biggest investors on Wall Street made some bearish moves with bank stocks in the third quarter. Here's a quick round up.
Berkshire Hathaway
(BRK.A)
seems to be the only bull star investor in the group. He scooped up a $52 million stake, or 2 million shares, in
Bank of New York Mellon
(BK)
and increased his shares in
Wells Fargo
(WFC)
to 336.4 million shares from 320.1 million.
Buffett did cut his stake in
Moody's
(MCO)
TheStreet Recommends
to 13,154,356.
Meanwhile,
and hedge-fund manager
both reduced stakes in banks. Ackman trimmed down his stake in
Citigroup
.Meanwhile, Paulson eliminated his stake in
Goldman Sachs Group
(GS)
and reduced stakes in
Citigroup
(C)
,
Bank of America
(BAC)
,
J.P. Morgan Chase
(JPM)
,
Capital One Financial
(COF)
and
Marshall & Ilsley Corp
(MI)
.
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--Written by Maria Woehr in New York.
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