FYI: longtime holder of Berkshire Hathaway sold out of the stock in the second quarter, citing investment mistakes by Chairman and CEO Warren Buffett over the past decade, meager stock repurchases, and the drag of a cash hoard that totaled $122 billion on June 30.
“Thumb-sucking has not cut the Heinz mustard during the Great Bull Market of 2009-2019,” wrote David Rolfe, the chief investment officer of Wedgewood Partners, a St. Louis investment firm. “The Great Bull could have been one helluva of an astounding career denouement for Messrs. Buffett and Munger.” Charlie Munger is Berkshire’s (ticker: BRKb ) longtime vice chairman. Buffett is 89 and Munger, 95.
Wedgewood has more than $2 billion of assets under management and oversees the $100 million RiverPark/Wedgewood Fund (RWGIX). It had held Berkshire for more than 20 years.
Regards,
Ted
https://www.barrons.com/articles/longtime-berkshire-hathaway-investor-warren-buffett-51571069340?siteid=yhoof2&yptr=yahoo
