New Blood

Berkshire’s got a brand new bag.  You’ve almost never seen Warren’s company buy a stock and then blow it out a year later.  Berkshire’s corporate culture is and has always been buy and hold; Buffett tries to own things he would never want to sell.

But there’s some new blood at the company.  Todd Combs was brought in followed by Ted Weschler to take the reins on the investment portfolio, and I highly doubt Buffett and Munger hired them with an expectation that they’d do things a different way.

New blood is good sometimes.

As a shareholder myself and an adviser with virtually all of my clients in the stock, it’s really interesting to watch this whole thing evolve…

From Bloomberg:

Berkshire Hathaway Inc. (BRK/A) locked in a gain on its Intel Corp. (INTC) bet by selling its stake less than a year after making the investment, shunning the buy-and-hold strategy favored by Chairman Warren Buffett.

Berkshire’s Geico unit accumulated 11.5 million shares of Santa Clara, California-based Intel in the second half of 2011 for an average price of about $22 each, according to National Association of Insurance Commissioners data compiled by Bloomberg. Buffett’s firm sold the stake in the world’s largest semiconductor maker for an average price of $27.25 this year through May 8, netting about $60 million in profit.

Source:

Tags:

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers

Please see disclosures here.

What's been said:

Discussions found on the web
  1. thenaturalpenguin commented on Sep 22

    … [Trackback]

    […] Information on that Topic: thereformedbroker.com/2012/09/14/new-blood/ […]

  2. w88club commented on Oct 05

    … [Trackback]

    […] Read More on that Topic: thereformedbroker.com/2012/09/14/new-blood/ […]

  3. rbc online banking commented on Nov 14

    … [Trackback]

    […] Read More here to that Topic: thereformedbroker.com/2012/09/14/new-blood/ […]

  4. buy ruger handguns online commented on Dec 01

    … [Trackback]

    […] Information on that Topic: thereformedbroker.com/2012/09/14/new-blood/ […]

  5. situs slot online commented on Jan 07

    … [Trackback]

    […] There you can find 59192 more Info to that Topic: thereformedbroker.com/2012/09/14/new-blood/ […]

  6. Software Testing company commented on Jan 11

    … [Trackback]

    […] Find More on that Topic: thereformedbroker.com/2012/09/14/new-blood/ […]

  7. tangerine savings account log in commented on Jan 17

    … [Trackback]

    […] Read More Information here to that Topic: thereformedbroker.com/2012/09/14/new-blood/ […]

  8. wigs commented on Jan 21

    … [Trackback]

    […] Find More on that Topic: thereformedbroker.com/2012/09/14/new-blood/ […]