The Oracle cuts down on Moody’s investment

Even after claiming that credit rating agency business is a good business given the limited number of competitors, investors still saw Warren Buffett reduce his holdings on Moody’s, one of the three biggest rating agencies, by 17% or 8m shares via three consecutive days of selling in June.  From a holding of 20.02%, this is now down to 16.98%, yet this still leaves the legendary investor the biggest shareholder of the company with 40m shares.

The news pushed the stock lower by more than 7% at one point on today’s trading session.

Read more on this via Bloomberg HERE.

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