Buffett Loses $112 Million on Apple Shares


In my article last week titled Buffett Buying More Apple Shares? I mentioned that it seemed out of character for Warren Buffett to be investing in a company like Apple, and that it had the look and feel of a purchase by his new stock picking team.

Well just this week Buffett confirmed in an email that he was not the one responsible for adding the $1 billion in Apple shares to Berkshire’s portfolio but his new stock picking duo, former hedge-fund managers Tom Combs and Ted Weschler were actually the ones behind the purchase.

That probably comes as no surprise to Buffett fans. And you certainly can’t blame him for sticking with what he does best.

Besides, his most well-known tech investment to date, IBM, has lost about 20% of its value the last five years while the market has risen about 69% during this time.  So why wouldn’t Buffett continue to dance with the one who got him here?

It’s early in the game but it looks like his new lieutenants are not doing much better in the tech arena. According to an article in the Wall St. Journal Berkshire’s $1 billion worth of Apple shares have fallen to about $888 million since the end of the first quarter.

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Nick Moccia


Weiss Educational Services