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) - Get Report
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) - Get Report
and increased his shares in
Wells Fargo
(WFC) - Get Report
to 336.4 million shares from 320.1 million.
Buffett did cut his stake in
Moody's
(MCO) - Get Report
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) - Get Report
and reduced stakes in
Citigroup
(C) - Get Report
,
Bank of America
(BAC) - Get Report
,
J.P. Morgan Chase
(JPM) - Get Report
,
Capital One Financial
(COF) - Get Report
and
Marshall & Ilsley Corp
(MI)
.
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.
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--Written by Maria Woehr in New York.
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