Greg Abel, Warren Buffett's Successor, Opens a Position in Macy's. What Does He See That the Market Doesn't?

The moment the market has been waiting for has finally come: Berkshire Hathaway just reported its first 13F filing under the leadership of new CEO Greg Abel. The 13F is a report of a company's trades in a given quarter.The report demonstrated that Abel is developing his own flavor of the Berkshire Hathaway investing philosophy. Abel dumped a bunch of smaller positions, coming through on his promise to concentrate the portfolio into a smaller number of high-conviction stocks, and he bought two new stocks while adding to and reducing a few other positions.One of the new positions is in department store giant Macy's (NYSE: M). Macy's has certainly seen better days, and its stock sits 38% below its level a decade ago. What does Abel see here?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool