07 Aug '12, 12am

Buffett sells consumer staples Kraft, Johnson and Johnson and Procter and Gamble. Builds up cash $KFT $PG $JNJ $WFC

Buffett sells consumer staples Kraft, Johnson and Johnson and Procter and Gamble. Builds up cash $KFT $PG $JNJ $WFC by Drizzt on August 7, 2012 It seems that for the quarter Warren Buffett have been shifting to Wells Fargo and selling what you usually think he wouldn’t pare down. What you read in books is vastly different from what Buffett does. Buffett pared Berkshire’s Kraft holdings in 2010 and continued to cut it in four consecutive quarters to 78 million shares through March 31, according to regulatory filings. The billionaire called the foodmaker’s takeover of Cadbury Plc and the sale of its pizza brands in 2010 “dumb” at Berkshire’s shareholder’s meeting that year. Kraft has advanced37 percent since his remarks through Aug. 3 to $40.51. The billionaire held 29 million J&J shares as of March 31, down from 42.6 million at the end of 2010. The New Brunswick , New Jerse...

Full article: http://thefinance.sg/2012/08/07/buffett-sells-consumer-st...

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