
Buffett Bails on Banks! Bets Big on High-Yield Ally Financial
Warren Buffett’s Berkshire Hathaway has significantly reduced its exposure to the banking sector, exiting its position in Bank of America entirely and substantially trimming stakes in other financial institutions, while simultaneously increasing its investment in Ally Financial, a high-yield online bank. This strategic shift signals a potential change in Buffett’s long-held investment philosophy regarding traditional…