Subject: Re: Berkshire sold the rest of its BYD stake
WFC in particular was an odd sale in that he sold out at such a low price. If I recall at the time he seemed unhappy with the CEO for some reason? It almost seemed like he sold on emotion. What is that saying, "emotions are the enemy of good investing."

I tend to agree that the sale was abrupt. Selling at ~$25 a huge position that was at the time plainly going to fetch over $40 soon enough seemed precipitous. (not hindsight, I said exactly the same thing at the time!)

But as for emotional selling, in this case I believe the emotion was "I no longer trust management", which is perhaps a reasonable exception to the rule.

Jim