Buffett has long been a fan of Bank of America, singing the praises of CEO Brian Moynihan time and again, and he's owned the stock since he bought preferred shares of BofA in 2011.

Buffett has sold over $7 billion worth of Bank of America stock since the start of the third quarter. Meanwhile, one of the few stocks that he's consistently bought over the last two years is sitting near a two-year low,

Bank of America is a significant holding of Berkshire Hathaway, which recently sold 20% of its stake. Read why trimming BAC stock is not good for us here.

Warren Buffett has a very specific plan for how his wealth (nearly $144 billion) can do the most good. His three children will help him achieve it.