It was pretty obvious in 2008 that Warren Buffett had lost his investing touch. The financial world was showing its dirty, stinky underbelly for what is what – a giant fraud. Meanwhile, Berkshire Hathaway was accumulating shares in these turd infested companies such as Moody’s.  Moody’s sole purpose during the entire credit bubble was to stamp AAA ratings on everything that crossed their desks – including the million dollar home loans for every unemployed derelict on the planet – , and collect large advisory fees during the process.

It’s not clear if Warren Buffett has got his magic touch back, but today it was announced that he finally came to his senses on Moody’s, dumping 800,000 additional “worth less” (as Warren calls it) shares on some other poor saps.  From Yahoo Finance:

Billionaire Warren Buffett’s company has sold another 794,388 shares of Moody’s Corp. stock, leaving it with control of 16.6 percent of the credit rating agency.

Berkshire Hathaway Inc. revealed the sales in documents filed with the Securities and Exchange Commission on Thursday.

Earlier this summer, Berkshire sold nearly 8 million shares of Moody’s stock.