Thursday, 23 July 2009

Moody's

Buffett dumps Moody’s (ticker: MCO).
The sales listed in the latest filing are:
7/20/09… 1,817,000 at $28.7269 average in open market sale.7/21/09… 3,915,100 at $26.9188 average in open market sale.7/22/09… 2,254,200 at $26.6425 average in open market sale

Also other insiders are dumping the stock: National Idemnity, OBH and GEICO. This is not boding well for the future of this rating agency in particular, but people seem to know that something is brewing.

Buffett reduced his stake from 20,2% to 16.98% over the last days.





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