No. of Recommendations: 11
Buffett has made it very clear that he doesn't ok or veto their trades. Either Buffett or t and t changed their opinion.
Be sure to include "changed their opinion of the valuation level" in your definition.
The price went up. It's pretty likely they made a quick billion. Nothing wrong with that.
Sure, a long term compounder is best, but a good solid IRR isn't so bad either.
Maybe it was about a change in perceptions about the future trajectory, but maybe it wasn't ALL about that.
A billion here, a billion there...
Jim
