Berkshire Hathaway Sells Moody's (MCO) Again ~ market folly

Thursday, September 23, 2010

Berkshire Hathaway Sells Moody's (MCO) Again

Warren Buffett's Berkshire Hathaway has sold shares of Moody's (MCO) for the second consecutive time in a week. Per a Form 4 filed with the SEC, Berkshire Hathaway sold 560,000 shares of MCO at an average price of $25.725 on September 20th. This comes right after Buffett sold Moody's last week. After the cumulative sales, Buffett is now left with 28,873,326 shares of the company.

As we detailed last week, it's very evident that any price over $25 is a price Buffett is willing to part with some of his shares. Keep in mind though that he still has a massive position, with over 28 million shares remaining. He has been patient with his sales and many months ago has demonstrated his willingness to sell MCO at around $25-30 per share.

On the other side of the coin, we've also cataloged how David Einhorn's hedge fund Greenlight Capital has been short Moody's. You can view his original thesis here: The Curse of the Triple A.

Taken from Google Finance, Moody's is "a provider of credit ratings; credit and economic related research, data and analytical tools; risk management software, and quantitative credit risk measures, credit portfolio management solutions and training services."

To learn how to invest like the legend himself, head to Warren Buffett's favorite investing books.

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