Warren Buffett said that he sold about one-third of a large proportion of Berkshire Hathaway in IBM. This course billionaire surprised many because the obvious benefits in it are not visible.
«I don’t appreciate the company IBM as estimated six years ago when I started buying stocks… I’m a little revised its estimate downward. And when the shares have risen above $180, we sold a significant number,» said Buffett.
Recall that the billionaire owned 81 million shares of IBM at the end of 2016, but already in the first 4 months of 2017 Buffett sold about a third of them. To date, its management is more than 50 million shares.
It should be noted that Buffett bought shares of this company with extreme caution, despite the advice of economists and stock brokers. As they said then a businessman, he just does not like to invest money into the business, the attainment of which is beyond its capabilities. However, several years later, Buffett bought so many shares of IBM, the importance of it for his investment company Berkshire has become so large, and the importance of participation in such companies as American Express, Coca-Cola, Wells Fargo, Apple, Kraft and Heinz.
«IBM is a big strong company, but it has very strong competitors», — said the billionaire.
Perhaps he plans to purchase shares more stable and promising company in the field of technology.
