MONEY MASTER

  Warren Buffett ’s Berkshire Hathaway Inc. has sold US$338 million worth of Bank of America Corp. stock this week, continuing a series of disposals that began in mid-July. This marks the 13th round of sales , but the pace has slowed, with this latest round fetching some of the lowest prices since the spree started. The average price of the shares sold on Tuesday and Wednesday was US$39.40 , lower than most of the previous trading days. Earlier rounds of sales reaped around US$750 million per round. Buffett, 94, has not publicly explained why he is reducing Berkshire’s large stake in the bank, although Berkshire Hathaway still remains the largest shareholder in Bank of America , holding 10.2% of the stock, valued at over US$31 billion .

  Warren Buffett has now turned his entire remaining US$34 billion stake in Bank of America Corp into pure profit, following a series of share disposals that have fully covered his original investment cost. According to a Thursday filing , Buffett’s Berkshire Hathaway Inc sold US$896 million worth of Bank of America shares this week, bringing total proceeds from stock sales and dividends to over US$14.6 billion , the amount Berkshire originally spent to build its position in the bank. Buffett, now 94 years old , first invested in Bank of America in 2011 through a US$5 billion deal for preferred stock and warrants. The investment was converted into common shares in 2017 after the bank increased its dividend, and the stock's value has grown substantially since. Berkshire’s ownership in Bank of America may soon dip below the 10% regulatory threshold , which would allow the company to delay disclosures of share transactions. Buffett has offered no public explanation for his re...

  Two of Wall Street’s largest investment banks, JPMorgan Chase & Co and Bank of America Corp (BofA) , are introducing new measures to address the growing workload of their junior bankers, amid industry-wide complaints of weekly hours exceeding 100. JPMorgan plans to limit junior banker hours to 80 per week in most cases, according to a person familiar with the matter. Exceptions may apply for additional work needed to complete live deals. This marks the first time JPMorgan has imposed such a cap, aligning with New York state regulations on hours worked by medical residents. Meanwhile, Bank of America is launching a new internal platform this month to more closely monitor individual workloads. The system, known as the "banker diary," has been in testing since earlier this year and will track trainee hours daily instead of weekly, allowing the firm to identify who is busiest and redistribute assignments more evenly. Wall Street has seen escalating demands on its junior...

Warren Buffett's Berkshire Hathaway Inc. has continued to reduce its stake in Bank of America Corp (BofA), selling an additional $982 million worth of shares. This latest round of sales, disclosed in a regulatory filing, occurred on August 23, 26, and 27, marking a significant pullback from the investment that has been a cornerstone of Berkshire's portfolio. Key Takeaways: Significant Reduction in BofA Stake : Since mid-July, Berkshire Hathaway has reduced its stake in Bank of America by nearly 13%, generating approximately $5.4 billion in total proceeds. This marks one of Buffett's most substantial reductions in a major investment in recent years. Impact on BofA Stock : Prior to the selling spree, BofA's shares had risen 31% this year. However, the stock has since declined by 10%, closing at $39.67, as investors react to Buffett's sell-off. Berkshire’s Continued Holding : Despite the sales, Berkshire Hathaway remains the largest shareholder of Bank of America, hold...