Warren Buffett’s decision to trim Apple shares at the end of last year cost Berkshire Hathaway up to $18 billion, after the billionaire investor in May admitted that selling those Apple shares was “probably a mistake.”
AAPL closed on a record high yesterday, which would have seen Berkshire’s pre-sell-off stake worth $146B. Business Insider notes that the 12% sell-off reduced the value of the holding to $128B.
The investor has more than tripled his money on Apple in the past three years – but he would have quadrupled it if he didn’t sell a chunk of the holding.
Buffet sold 9.81 million shares at the end of 2020, admitting in May that this was his decision against the advice of Berkshire VP Charlie Munger.
That was probably a mistake… Charlie in his usual low key way let me know he thought it was a mistake, too… It’s an extraordinary business…
MacDailyNews Take: There’s no “probably” about it. Own it. Don’t trade it.