"Stock God" Buffett is currently selling $Bank of America (BAC.US)$ stocks, having already recovered the entire investment cost, and currently holding over $34 billion worth of Bank of America stocks, which is pure profit.

According to the regulatory filing submitted on Thursday, Buffett's $Berkshire Hathaway-A (BRK.A.US)$ / $Berkshire Hathaway-B (BRK.B.US)$ sold $0.896 billion worth of Bank of America stocks this week. This means, ignoring the impact of taxes, Buffett's total returns from selling Bank of America stocks since mid-July (approximately $8.1 billion) plus the dividends received since 2011 have exceeded the $14.6 billion spent on purchasing the shares.

At the age of 94, Buffett acquired $5 billion worth of preferred stock and warrants from Bank of America in 2011, establishing an investment in the bank. Six years later, after the bank raised its dividend, he converted these shares into common stock. During his investment period, the Bank of America's stock price rose several times.

Following the recent sales, Berkshire's ownership in Bank of America may soon drop below the 10% regulatory threshold, which requires Berkshire to disclose the transaction information within days. Once Buffett's controlled shares fall below this figure, he may wait several weeks to disclose the transactions.

So far, Buffett has not publicly explained why he sold Bank of America stocks. Any comments could complicate matters, as US regulatory institutions do not want major bank shareholders to exert potential influence on the banks.

At the Barclays Global Financial Services Conference on September 10th, Bank of America CEO Brian Moynihan told the audience that he cannot directly call Buffett and ask 'What is he doing, because frankly, we can't ask and won't ask.'

But Moynihan added, 'The market is absorbing these stocks. This is part of everyday life, and life goes on.'

Editor / jayden