No. of Recommendations: 4
Years ago when Buffett used to be on CNBC more regularly (around the annual meeting and annual report) he would often say 'we don't want to go over 10%...when we sell we are trying to stay below that threshold for companies who actively repurchase'- The airlines were aggressive repurchasers at that time. I remember when Buffett went over 10% in Delta, because he liked that the CEO thought the stock was cheap and borrowed money to repurchase. He went over 10% and admitted later that it was a mistake to go over. To me this is/was weird at the time, because, hey, he's Warren Buffett, to make a mistake like that seemed strange, when he was on record before that saying he prefers not to go over 10%.
We have had various quick buys and sells recently. TSM/MKL/HPQ/PARA- I don't know if all of these were his.
The TSM one was strange- his reasoning was because of the geopolitics which was well known before he bought.
Is it possible that Buffet may be showing a bit of age here, maybe a little impulsive, are there safeguards in place at headquarters to stop him in his tracks should he want to buy something.
Todd: "hey Warren, why did you buy MKL?, It's really kind of small and can't move the needle...CB is much better and can get more money into it"
Warren: "good idea, I'll sell it and go into CB"
I wonder how hard it is to shut him down while he is alive, but making mistakes...
