I generally pick rock solid stocks -- pedigreed blue chips in the Buffett mold -- and hold them almost forever. Buffett talks that game, but lately it seems he hasn't helped BRK's performance with his fast *sell* trigger finger.
I've never seen academic research on the performance of stocks BRK SELLs. That would make a good subject for a article.
But BRK touched a new record high today... by a few cents. Up 18% so far in 2021 vs 11.5% for the S&P 500.
Listen to BRK's annual meeting livestreamed today:
"Yahoo Finance is the exclusive online host of the 2021 Berkshire Hathaway Annual Shareholders Meeting taking place on Saturday May 1st in Los Angeles [not Omaha]. The live stream begins at 12:30 p.m. ET. Berkshire Hathaway Chairman and CEO Warren Buffett will be joined by Vice Chairman Charlie Munger, and both will share their unscripted views on Berkshire Hathaway, the markets, the economy, corporate governance, and a lot more. Please join us."
"Munger: Berkshire Turnover has Been 'Way Too Much'
"I thought this was interesting because Warren Buffett (Trades, Portfolio) has consistently promoted the idea that investors should buy securities to hold them forever. However, selling such a large amount of stock throughout the year suggested that the Oracle of Omaha had an unusually high turnover rate in 2020.
It seemed that Buffett had been more active than usual for the past few years. In 2019, Berkshire acquired $18.6 billion of equity securities and sold $14.4 billion. In 2018, the group spent $43.2 billion buying equity securities and received $18.8 billion from sales.
Higher level of turnover
Last weekend, at Berkshire's annual meeting, one investor asked Buffett if his buy-and-hold philosophy had changed considering the "greater turnover in the equity portfolio lately."
Buffett initially started his response with a simple statement, declaring, "I don't think there's that much turnover." His right-hand man, Charlie Munger (Trades, Portfolio), clearly disagreed. He said, "There's way too much."
Even though Buffett had initially said that he didn't believe there was too much turnover in the portfolio, he agreed with Munger's statement. The CEO of Berkshire added:..."
SA 13F: "Berkshire Hathaway takes stake in Aon, exits Synchrony"
"* Berkshire Hathaway (NYSE:BRK.B) (NYSE:BRK.A) takes a new position in Aon Plc (NYSE:AON) with a 4.1M-share holding as of March 31, 2021, according to its latest 13F filing.
* The Warren Buffett-led investing giant closes its positions in Synchrony Financial (NYSE:SYF) and Suncor Energy (NYSE:SU).
* Slashes stake in Wells Fargo (NYSE:WFC) to 675K from 52.4M shares and in Chevron (NYSE:CVX) to 23.7M from 48.5M shares."
* Boosts stake in Kroger (NYSE:KR) to ~51.1M shares from 33.5M."
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