Subject: Re: Brk 13 f out,
'This is more likely T&T's holding. Bought and sold so quickly made me concerned.'

Confused here too. Surprised we made a large initial buy and a then quick large sale. TSM and tech category seems like a potential T&T position but size of $4-5B seems like more likely a WEB decision. I think T&T are each managing $20B, so it possibly could represent their trade. Maybe growing geopolitical tensions and risks, but those were there to a large degree months ago. Interesting we are a net seller of equities Q4. Interested in other's thoughts and speculation.