Warren Buffett says Baby, Bye Bye Bye to 19 million shares of Johnson & Johnson Stock
Buffett’s holding company Berkshire Hathaway, are drastically reducing exposure to stocks that depend on consumer purchasing habits. Berkshire sold roughly 19 million shares of Johnson & Johnson.*
And stories like Johnson & Johnson’s Ethicon/Gynecare destroying documents for the upcoming mesh trials seem to support Mr. Buffett’s theory that consumer habits are tied to a company’s ethics or lack of.
The growing trend of consumer activism may play a role. Phone apps like buycott.com are having an impact on consumer purchasing, which already have several Johnson & Johnson campaigns listed asking for company accountability. Find out more here: http://lnkd.in/beSYvpB
*http://www.newsmax.com/Outbrain/billionaires-dump-economist-stocks/2012/08/29/id/450265