Warren Buffett's Berkshire Hathaway slashed its Bank of America stake and dumped bank stocks last quarter
1. Berkshire Hathaway cut its Bank of America stake to 680 million shares. 2. Berkshire's ownership in BAC dropped from over 13% to below 9%. 3. The value of BAC in Berkshire's portfolio decreased from $41 billion to under $30 billion. 4. Buffett's firm struggled to find bargains, selling $127 billion in stocks last year. 5. Berkshire's cash reserve swelled to over $300 billion due to stock sales.