Buffett Reduces Stake in Bank of America Amid Market Speculation

Investor Warren Buffett (Trades, Portfolio)'s activities in the capital market are closely watched as indicators of both a company's and the U.S. economy's prospects. Recently, Buffett has significantly reduced his holdings in Bank of America (BAC, Financial), sparking market discussions. Berkshire Hathaway, Buffett's company, disclosed in a filing with the U.S. Securities and Exchange Commission that it further reduced its stake in Bank of America by $863 million over three trading days, now holding 10.5% ...