Investors are no longer paying a premium for Berkshire Hathaway (NYSE:BRK)(NYSE:BRK) shares since Warren Buffett stepped down as CEO. Freedom Capital Markets Chief Market Strategist Jay Woods tells Benzinga new CEO Greg Abel is putting his stamp on the company and changing things up, which could pay off long term for shareholders.
Abel Shows Bold Moves
One of the latest moves made by Berkshire Hathaway was taking a position in Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL), a position that has increased in size and sees the investing conglomerate helping finance the company’s growth.
Woods said the relationship with Alphabet is surprising.
"Here’s a company that’s been around for 25 years. Took them forever to really get involved in Apple and it became a major holding and they made a lot of money off of it. They see the potential here in Alphabet," Woods tells Benzinga.
