Bank of america, Wells Fargo, JP Morgan, Pnc Financial, Mellon, Goldman Sachs, Delta Airline, Southwest Airline, United Airline, American Airline, Restaurant Brands International, Occidental Petroleum, Charter communication, and SiriusXM. If you are someone conversant with Warren Buffet and his investment programs, you would understand that this were companies that Warren Buffet went a selling spree for. Warren in the last 11 years have not sold stocks as he has always been buying and buying.
Did you remember that at the end of last year, Warren Buffet said he had over $130 billion in cash to invest and people thought he was going on a shopping spree this year (2020) but then Covid-19 came and it changed the economy and a lot of people started selling out stocks. Nobody expected an investor like Warren buffet to sell at this point since the market is down, but the reverse is the case as the Oracle of Omaha sold part or all, of the stocks in these companies.
Aside from his selling, Warren still bought a few stocks and a little investment. These investments were investment related to gold, energy, retail marketplace and real estate. He did buy stocks in Barrick Gold Corporation, Sancor Energy, Kroger Company, Store Capital and he bought again Liberty SiriusXM groups. Why will Warren Buffet invest in a gold company as well as energy, real estate and retail marketplace?
The truth remains that so many stocks are overvalued and now is the best time to sell off. Also, the economy of the world is quite unstable with businesses going bankrupt, people loosing their jobs making the unemployment rate higher and so, the best thing to do now is invest defensively which is why I believe he is investing in gold and energy. Do not also forget that Berkshires Hathaway also invests in tech companies including Apple.