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Thursday, July 23, 2009

Buffett's Berkshire Decreases Stake in Moody's: Smart Investing or Payback?


Warren Buffett's Berkshire Hathaway Inc. (NYSE:BRK.A) reduced its stake in Moody's Corporation by 17% conducting the sale of almost 8 million shares over the open market in the past week. This comes after Moody's (NYSE:MCO) has posted 7 quarterly declines in a row. Is this smart investing, or could it be bitter payback, as Moody's downgraded Berkshire Hathaway's credit back in March 2009? Moody's fell on the news, and certainly looks to have had a very negative impact on it as it is down by almost 14% as of now.

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