Does he know more than anyone else? Stock market legend Warren Buffet (93) is known as the “Oracle of Omaha”. What he does on the stock market has been successful for decades and has made him the seventh richest person on earth. The financial world is therefore following his every move on the Stock exchange.
Now Buffett has once again made a statement: His company Berkshire Hathaway surprisingly sold half of its Apple shares! The value of the shares sold in the second quarter: around 80 billion dollars!
This is evident from the group's quarterly figures, which were published on Saturday. For years, Apple the largest holding of the Buffett company. At one time it even accounted for half of all Berkshire Hathaway investments.
But the fact is: Even after the extensive sell-off, Apple remains the group's largest position, accounting for almost 30 percent of the entire portfolio at the end of June. Far behind are Bank of America (14.4 percent), American Express (12.3 percent) and Coca-Cola (9 percent).
A sign of turbulent stock market times?
Because Buffett’s company has many Shares – even outside of Apple – and at the same time hardly made any new investments, amateur investors speculate on social networks: The stock market legend could assume that turbulent times are ahead for the market.
Berkshire Hathaway has not yet explained the real reason for the Apple sell-off. BUT: The company had already sold 13 percent of its Apple shares in the first quarter. At the time, Buffett said that the sale of “a little bit of Apple” was done for tax reasons. Because: The government of Joe Biden (81) plans to double the tax on capital gains of large investors to 39.6 percent next year.
It remains unclear, however, why “a little Apple” has now become half of all Apple shares. Buffett's stock market motto is: “Be fearful when others are greedy, and greedy when others are fearful.” It is also possible that he simply took big profits.