Los Angeles Business Journal

Buffett Pares Consumer Stocks

Monday, August 6, 2012

Berkshire Hathaway Inc.’s cash swelled in the second quarter to its highest level in a year as Chairman Warren Buffett pared bets on consumer-products stocks. Bloomberg News reports that Buffett has cited challenges at consumer-products firms in Berkshire’s $86.2 billion stock portfolio, which includes Johnson & Johnson and Procter & Gamble Co., and his using his cash to build the larger stakes in firms such as Wells Fargo & Co.