Investing

Buffett Keeps Dumping More Moody’s (BRK-A, MCO)

Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK-A) is still unloading more Moody’s Corp. (NYSE: MCO) stock.  A filing from last night shows that another 87,992 shares were sold at a weighted average price of $26.77 on December 18, 2009.  This…

By Douglas A. McIntyre
Published December 23, 2009, 8:50am ET · 1 min read

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Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK-A) is still unloading more Moody’s Corp. (NYSE: MCO) stock.  A filing from last night shows that another 87,992 shares were sold at a weighted average price of $26.77 on December 18, 2009.  This is a fraction of what has been sold before and was a mere $2.35 million worth of stock, and Buffett still holds some 31,814,610 shares of the independent ratings agency.

But Buffett is continuing to pare down his position here in Moody’s.  This appears to be the third stock sale of Moody’s this month.  Buffett is still more than a 13% beneficial owner, but we have shown on several occasions how Moody’s is likely being punted 100% by Berkshire Hathaway.

This company is no longer in the same position that it was when Buffett decided to go into it.  Even with a forever time frame, when fundamentals and the future of a company permanently change it is time to review a position.  Buffett is about two-years too late in this action.

JON C. OGG

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Douglas A. McIntyre

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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