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Warren Buffett still smiling after $1B portfolio hit.
Warren Buffet’s portfolio was reported to have lost almost a billion dollars last weak as the market trended downward hitting some of Warren’s top holdings. While everyone knows that you only lose if you sell at a loss, Mr. Buffett lost a significant chunk of “what could’ve been”… His biggest hit was IBM which started the week at $210.44 and fell to $190 at Friday’s close, representing a $1.3B loss to his portfolio. His next biggest loser was Bank of America which began the week at $12.19 and finished at $11.66. He currently holds 700 million shares of BOA and obviously believes in the long term prospects of the company.
Source: Fool.com