PARAP - Buffett's Berkshire Trims Paramount: Should You Sell Too?
2024-02-15 17:43:18 ET
Summary
- Yesterday, Berkshire Hathaway’s quarterly stock holdings report revealed that the company trimmed its Paramount stake by 32%.
- Since the position is widely believed to be Warren Buffett’s, the news will likely weigh on the stock.
- I have recently warned against blindly piggybacking on Buffett’s stock ideas, and this situation provides an excellent example.
- In this article, we will examine the potential reasons for the trimming and what they may mean for those who followed Berkshire into the trade.
Warren Buffett's Berkshire Hathaway trims its Paramount position
Berkshire Hathaway Inc. ( BRK.A ) ( BRK.B ) was - and is still - the largest holder of Paramount Global's ( PARA ) ( PARAA ) ( PARAP ) non-voting shares. Until last quarter, the company owned almost 94 million shares, but yesterday we discovered that Berkshire's PARA position was trimmed down to 63.3 million shares....
Buffett's Berkshire Trims Paramount: Should You Sell, Too?