What Does He Know? Warren Buffett offloads Bank of America shares worth $982 million in latest sale

Billionaire Warren Buffett's Berkshire Hathaway (BRKa.N), opens new tab has sold some more shares of Bank of America (BAC.N), opens new tab over the past few days, raking in $981.9 million, as the conglomerate continues to trim down its stake in the second-largest U.S. lender.

Berkshire has now shed about $5.4 billion worth of Bank of America shares in a string of sales since mid-July.

The conglomerate sold about 24.7 million shares of the lender between Aug. 23 and Aug. 27, according to a regulatory filing on Tuesday.

Shares of Bank of America were down 0.5% in premarket trading on Wednesday. They have fallen 4.8% over the last month, compared with a 1.7% fall in the KBW Bank Index (.BKX), opens new tab.