Dear readers, in yesterday’s post, I shared with readers that Warren Buffet has sold all his holding in seven companies as at end September 2023!
Beside P&G, Johnson and Johnson and UPS, the other four counters that Warren Buffet’s Berkshire Hathaway also exited completely were:
General Motors
Celanese
Modele
United Parcel Service
Warren Buffet also trimmed his holdings in some other stocks, including Chevron, HP, Markel, Aon, Globle Life, etc.
In all, Warren Buffet sold US $7 billion stocks in the latest quarter ended September 2023.
A sale of US $7 billion stock may make a number of investors wonder whether Warren Buffet is ditching his long-held belief in buying and holding good and valuable stock and what this means for the stock markets next.
However, investors must note two things.
First, the context. While US $7 billion sale of US stocks is enough to make many investors take note, we must be aware that the US $7 billion sale just represent about 2% of Berkshire Hathaway total portfolio of US $318 billion.
Second, Warren Buffet is still buying some stocks. While US $44 million of Sirius XM stock was bought, this purchase just represents about 0.01% of Berkshire Hathaway total portfolio of US $318 billion. The vast majority of Berkshire’s US $1.7 billion in stock purchase last quarter went towards some stocks that were not disclosed.
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
BINGE READ ALL POSTS!
Visit Home Page for more reads or Connect here!