Investment Firm Loses Faith in Buffett, Sells $123 Million in Berkshire Hathaway Stock
By many accounts, Warren Buffett is the greatest investor of our generation. In over six decades, the "Oracle of Omaha," as he's now known, has grown his seed capital of $10,000 into a net worth of roughly $82 billion. That's not too shabby considering the tens of billions of dollars Buffett has also given away to charity throughout the years.
Buffett's investing style is exceptionally simple, and yet lauded by retail investors and Wall Street bigwigs alike. Rather than overthinking things, eyeing the short term, or relying on fancy trading software to do the heavy lifting, Buffett instead chooses to focus on a handful of sectors and industries of the market and looks for relatively inexpensive companies that offer long-term competitive advantages. It may not sound all that exciting, but it's hard to argue with Buffett's long-run outperformance, or the returns of his conglomerate and investment company, Berkshire Hathaway (NYSE: BRK-A)(NYSE: BRK-B).
Berkshire Hathaway CEO Warren Buffett at his company's annual shareholder meeting. Image source: The Motley Fool.
Source Fool.com
