Warren Buffett Sold Apple and Paramount. Here's What He's Buying Instead.
Warren Buffett hasn't found a lot to like in the stock market recently.
In each of the last six quarters, Buffett has sold more stocks for Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) than he bought. Last quarter, he sold off a big chunk of his Apple (NASDAQ: AAPL) position and the entirety of his Paramount Global (NASDAQ: PARA) investment. All told, he sold nearly $20 billion worth of stocks from Berkshire's portfolio, and he bought less than $3 billion.
Buffett lamented investment opportunities for Berkshire are few and far between as the company grows bigger. With a market cap of about $877 billion, there are only so many investments that can move the needle for the conglomerate. So, when Buffett does add to an existing position or initiate a new one, investors should pay attention, as it could be a big opportunity for anyone following his lead.
Source Fool.com