Bank of America Securities analysts downgrade American Express (AXP) to Neutral from Buy.
Buffett made several notable trades in Q2 that changed the makeup of Berkshire's portfolio. Key features he looks for are sustainable competitive advantages and good management.
American Express (AXP) shares traded lower Wednesday after Bank of America Securities analysts raised concerns that the stock was trading at a premium without too much potential for further growth.
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American Express is one of Berkshire Hathaway's largest investments. Warren Buffett likes the business because of its top brand and network effect.
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