Seeking Alpha

Kirk Lindstrom's  Instablog

Kirk Lindstrom
504 Followers
15 Following
Send Message
Kirk Lindstrom has an engineering degree from the University of California, Berkeley. Following 20 years of research and development as a scientist and engineer at Hewlett Packard, Kirk turned his attention to investments where he edits "Kirk Lindstrom's Investment Letter," that... More
My company:
Kirk Lindstrom's Investment Newsletter
My blog:
Kirk's Market Thoughts
My book:
Subscribe to "Kirk Lindstrom's Investment Letter"
  • Warren Buffett Sells More Moody's Stock 0 comments
    Dec 23, 2009 12:25 PM | about stocks: MCO
    This article was originally posted at Kirk's Market Thoughts as Warren Buffett Sells Moody’s Stock.

    Buffett's favorite holding period for stock may be "forever" but that doesn't mean he never sells. Today Reuters reported Warren Buffett's Berkshire Hathaway (BRKA Charts and Quote) sold Moody's Corp. stock (MCO) for the sixth time since July.
    Dec. 23 (Bloomberg) -- Warren Buffett’s Berkshire Hathaway Inc. cut its stake in Moody’s Corp. for the sixth time since July after the ratings company was hit by profit declines, lawsuits and criticism from regulators.

    Berkshire sold 87,992 shares on Dec. 18 for $26.77 apiece and remains Moody’s biggest shareholder, according to a regulatory filing yesterday. Omaha, Nebraska-based Berkshire’s stake is down about 34 percent from the 48 million shares it owned at the end of June.
    Remember that Moody’s, Standard & Poor’s and Fitch Ratings were blindsided by the financial meltdown when all three firms gave top grades to U.S. subprime mortgage bonds that caused the financial crisis.
    Our Favorite holding period is forever.”
    -Warren Buffett
    As of December 23, 2009, "Kirk's Newsletter Explore Portfolio" is up 33.6% YTD vs. DJIA up 19.2% YTD vs BRKA up 2.4% YTD (Kirk's Two Investment Letters)

    click charts courtesy of stockcharts.com for full size image

    More Information:



    Disclosure: No positions
    Stocks: MCO
Back To Kirk Lindstrom's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Most Commented
Posts by Themes
Economy, 10-year US Treasury Bond, 30-Yr U.S. Treasury Bond, AAII, Abby Joseph Cohen, American Association of Individual Investors, Banking, Banking Sector, biotech, Biotechnology, bond market, Bonds, bonds, Cash, CD Rates, CDs, chart patterns, dollar, Dollar/Currencies, DOW:Gold Ratio, drillers, Earnings, Economy, economy, Economy , ecri, ECRI, ECRI , ECRI WLI, energy, etf-analysis, etf-long-short-ideas, Fiber Optics, Financial, FINPX, Fixed Income, fixed income, George Soros, GLD, Gold, gold, gold and preciouis metals, gold-and-precious-metals, GOOG, Green Technology, Hedge Funds, HSBC, i Bonds, iBonds, income,
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.