“In a television interview to mark the release of his latest annual letter to Berkshire shareholders, Mr Buffett said that he had personally bought more than $8bn of Apple shares in January,” Foley and Samson report. “Berkshire is now one of Apple’s top five shareholders with a stake worth $18.2bn.”
“Mr Buffett told CNBC’s Becky Quick that he would not normally discuss his trading activity but he could talk about Apple ‘since we’re not buying it now and it’s at a price different than I would buy it now,'” Foley and Samson report. “He said: ‘We can change our mind tomorrow. We have not bought Apple since the earnings report came out because it shot up some then. One of the fellows in the office has about 10m shares and I have, for Berkshire’s account, 123m.’ The ‘fellows in the office’ are Mr Buffett’s investment deputies, Todd Combs and Ted Weschler, former hedge fund managers who now manage more than $10bn apiece, one of whom was responsible for the first purchases of Apple stock last year.”
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MacDailyNews Take: And, the winner is…
Never have the advantages of having some young blood in the office been quite so evident.