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| Buffett Selling Moody's, Speaking His Mind on CIT Group - July 26, 2009 |
Warren Buffett, on Friday, took a major move in his stake of Moody's Corp. (MCO) by selling off 8 million
shares of the company. Buffett, due to a number of splits and investments, was one of his only
investments where he owned nearly 20% of all shares. Buffett did not signal any reason for selling off, but
it was his first move on the company's shares since 2000.
Moody's finished Friday at 25.93, which is about 66% less than a 52 week high, and the company was in
the middle of a major downward trend. After the news came out, the company did finish up, but it followed
a general market trend. The question with this will be how will investors react throughout the rest of the
week. One analyst from William Blair said he may downgrade Moody's simply on psychological
implications.
Warren Buffett, also, recently made some commentary on CIT Group Inc. He said that he recently made
an offer for the company, as well as, that CIT's issue was with "their raw material, which is money, cost(s)
them...more than their competitors. It will be interesting to see if CIT does actually eventually get
purchased by Buffett or Berkshire.
The Oxen Group is not affiliated with Berkshire Hathaway, Warren Buffett, or any of their affiliates.
shares of the company. Buffett, due to a number of splits and investments, was one of his only
investments where he owned nearly 20% of all shares. Buffett did not signal any reason for selling off, but
it was his first move on the company's shares since 2000.
Moody's finished Friday at 25.93, which is about 66% less than a 52 week high, and the company was in
the middle of a major downward trend. After the news came out, the company did finish up, but it followed
a general market trend. The question with this will be how will investors react throughout the rest of the
week. One analyst from William Blair said he may downgrade Moody's simply on psychological
implications.
Warren Buffett, also, recently made some commentary on CIT Group Inc. He said that he recently made
an offer for the company, as well as, that CIT's issue was with "their raw material, which is money, cost(s)
them...more than their competitors. It will be interesting to see if CIT does actually eventually get
purchased by Buffett or Berkshire.
The Oxen Group is not affiliated with Berkshire Hathaway, Warren Buffett, or any of their affiliates.
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