In his first letter to shareholders as CEO of Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB), Greg Abel emphasized that the company’s culture and values would remain unchanged.
This was music to the ears of investors who feared that once Warren Buffett stepped down, things would change drastically
However, although Abel is following in the footsteps of the Oracle of Omaha, he is still shaking things up somewhat. During the first quarter of his tenure as CEO of Berkshire Hathaway, Abel got rid of several stocks from the Buffett era, including one that had been in the conglomerate’s portfolio for over a decade. Let’s consider two of the stocks Abel dumped and whether investors should do the same. 1.
Visa Berkshire Hathaway first bought Visa’s (NYSE: V) shares in 2011. As of the end of the first quarter, the conglomerate has gotten rid of every last one. Visa has been a great stock to own since 2011, a period during which it has crushed the broader market.