Saturday, 21st November 2009

 

24 July 2009 - Press Briefing

Buffett cuts Moody’s stake with hint of further sale

Berkshire Hathaway has reduced its long-standing holding in Moody's to 16.9% from 20%, marking the first time Warren Buffett offloaded shares in the credit-rating company since he purchased the stake in 2000, according to a report in The Wall Street Journal.

After divesting over eight million shares since Monday in the open market, Buffett said in a Securities and Exchange Commission filing that he may "sell additional shares in the open market or otherwise, depending upon price, market conditions, availability of funds, evaluation of alternative investments and other factors".

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

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