What Will It Take to Get Warren Buffett to Buy Stocks?

Barrons2021-08-18

It may take a major selloff in the stock market to get Warren Buffett to make any major equity purchases. But even that might not be enough to get Buffett to scoop up stocks given his inactivity in ...

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dw321
2021-08-18
dw321
$$$$$
Alright
2021-08-18
Alright
Patient man!
NatYong
2021-08-18
NatYong
Berkshire buybacks and keep a big cash pile in the event that markets turn and opportunities arise.
ashethen
2021-08-18
ashethen
Like please
Moleculas
2021-08-18
Moleculas
Like and comment
- Moleculas:
  Thanks
Kc48
2021-08-18
Kc48
Like n Comment
- Moleculas:
  You can comment on your own. Works as well

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The company pared stakes in three drugmakers—AbbVie(ABBV),Bristol Myers Squibb(BMY), and Merck(MRK)—while reducing its holding in General Motors (GM) by seven million shares to 60 million shares now worth more than $3 billion.\nBerkshire added to its stake in Kroger(KR), now holding almost $3 billion of the grocer. It made no changes to its largest holdings,Apple(AAPL) now at around $134 billion and Bank of America(BAC) at $41 billion.\nBuffett’s inactivity hasn’t hurt Berkshire’s stock this year. The class A shares were up 0.1%, to $435,695 in early trading Tuesday, while the class B shares were unchanged, at $289.45. Both share classes are up about 25% this year, ahead of the S&P 500 index’s total return of about 20%. Investors are excited about Berkshire’s exposure to a strengthening U.S. economy.\nBerkshire showed a new holding in Organon(OGN) of about 1.5 million shares in the second quarter, but that was likely the result of Merck’s spinoff of the drug outfit in the spring rather than an open-market purchase. Merck holders got one share of Organon for every 10 Merck shares.Barron’s has been bullish on the prospects for Organon, noting its relatively inexpensive valuation.\nDuring the second quarter, Berkshire was a net seller of about $1 billion of stocks according to its 10-Q filing, making this the fourth out of the past five quarters when the company was a net seller of stocks. Edward Jones analyst James Shanahan calculates that Berkshire was a net seller of $13.6 billion of stocks since early 2019.\nBuffett also isn’t showing a lot of patience with some of the newer equity holdings, which has surprised some Berkshire watchers who recall that his oft-stated favorite holding period is forever.\nThe company accumulated roughly $2 billion stakes in AbbVie, Bristol Myers, and Merck during 2020 and sold them down in the second quarter. The Merck holding has been cut for two consecutive quarters and is down to 9.2 million shares from 28.7 million at year-end, a decline of about two thirds.\nBerkshire slightly reduced its holding in Chevron in the second quarter, to 23.1 million shares, a decline of about 600,000 shares, after cutting it roughly in half in the first quarter. The Chevron stake is now worth about $2.4 billion.\nIt is notable that Buffett made use of a confidential filing with the Securities and Exchange Commission to accumulate the Chevron stake in 2020 only to cut it in half this year.\nBuffett’s investment moves since the start of 2020 have been underwhelming, including the sale of four airline stocks near the market bottom in April 2020.\nHe eliminated once sizable holdings in JPMorgan Chase(JPM) and Goldman Sachs Group(GS) last year at significantly below current prices and has virtually eliminated a formerly large stake in Wells Fargo(WFC) at considerably below its current price. Buffett probably has left well over $10 billion on the table with those financial-stock sales.\nBerkshire has also been quiet with acquisitions for several years. The last major deal was the $30 billion-plus purchase of Precision Castpartsin 2016.\nBuffett said at Berkshire’s annual meeting in May that he was ready to invest. Berkshire is sitting on about $144 billion in cash and equivalents, mostly Treasury bills.\n“But we’ve got more than we –we’ve got probably $70 billion or $80 billion, something like that maybe, that we’d love to put to work,” Buffett told shareholders. “But that’s 10% of our assets, roughly. And we probably won’t — we won’t get a chance to do it under these conditions, but conditions change very, very, very rapidly sometimes in markets.”\nFor the time being, Buffett seems content to plow Berkshire’s operating earnings, now running at more than $25 billion annually after taxes, into buybacks and keep a big cash pile in the event that markets turn and opportunities arise.\nBerkshire has bought back about $6 billion of stock in each of the past two quarters or about 1% of the shares outstanding in each period.\nWith Buffett turning 91 later this month, it’s an open question about whether he will get that big an opportunity while at the helm of the company he has led since 1965.","kind":"news","is_publish_news":false,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":833711425,"gmtCreate":1629262360267,"gmtModify":1676529983592,"author":{"id":"3578904373237924","authorId":"3578904373237924","name":"dw321","avatar":"https://static.tigerbbs.com/4425061ef8f6492240624ef8525e56af","vip":1,"crmLevel":4,"crmLevelSwitch":1,"idStr":"3578904373237924","authorIdStr":"3578904373237924"},"htmlText":"$$$$$","listText":"$$$$$","text":"$$$$$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/833711425","repostId":1116780100,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":833486873,"gmtCreate":1629255488092,"gmtModify":1676529981420,"author":{"id":"4087278718158970","authorId":"4087278718158970","name":"Alright","avatar":"https://static.tigerbbs.com/17b986a304be5031eab7c252ee5ea49f","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4087278718158970","authorIdStr":"4087278718158970"},"htmlText":"Patient man!","listText":"Patient man!","text":"Patient man!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/833486873","repostId":1116780100,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":833553146,"gmtCreate":1629251342485,"gmtModify":1676529979290,"author":{"id":"3580207321438450","authorId":"3580207321438450","name":"NatYong","avatar":"https://static.tigerbbs.com/62b1fa39b2974271d1c06e208f7b3571","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3580207321438450","authorIdStr":"3580207321438450"},"htmlText":"Berkshire buybacks and keep a big cash pile in the event that markets turn and opportunities arise.","listText":"Berkshire buybacks and keep a big cash pile in the event that markets turn and opportunities arise.","text":"Berkshire buybacks and keep a big cash pile in the event that markets turn and opportunities arise.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/833553146","repostId":1116780100,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":833550006,"gmtCreate":1629251244505,"gmtModify":1676529979245,"author":{"id":"4087606671753930","authorId":"4087606671753930","name":"ashethen","avatar":"https://static.tigerbbs.com/4f54274c70963f355c7d10c52305c1e7","vip":1,"crmLevel":1,"crmLevelSwitch":1,"idStr":"4087606671753930","authorIdStr":"4087606671753930"},"htmlText":"Like please","listText":"Like please","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/833550006","repostId":1116780100,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":833586291,"gmtCreate":1629250018413,"gmtModify":1676529978685,"author":{"id":"3574681823185660","authorId":"3574681823185660","name":"Moleculas","avatar":"https://static.tigerbbs.com/29766162695d3f835f6f4a52554d2137","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3574681823185660","authorIdStr":"3574681823185660"},"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/833586291","repostId":1116780100,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5562532,"gmtCreate":1629250027506,"gmtModify":1663232534333,"authorId":3574681823185660,"author":{"id":3574681823185660,"idStr":"3574681823185660","authorId":3574681823185660,"name":"Moleculas","avatar":"https://static.tigerbbs.com/29766162695d3f835f6f4a52554d2137","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":833586291,"type":1,"supId":0,"prevId":0,"content":"Thanks","text":"Thanks","html":"Thanks"}],"langContent":"EN"},{"id":833588747,"gmtCreate":1629249988689,"gmtModify":1676529978669,"author":{"id":"3582943967323128","authorId":"3582943967323128","name":"Kc48","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3582943967323128","authorIdStr":"3582943967323128"},"htmlText":"Like n Comment&nbsp;","listText":"Like n Comment&nbsp;","text":"Like n Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/833588747","repostId":1116780100,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5562535,"gmtCreate":1629250048840,"gmtModify":1663232534232,"authorId":3574681823185660,"author":{"id":3574681823185660,"idStr":"3574681823185660","authorId":3574681823185660,"name":"Moleculas","avatar":"https://static.tigerbbs.com/29766162695d3f835f6f4a52554d2137","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":833588747,"type":1,"supId":0,"prevId":0,"content":"You can comment on your own. Works as well","text":"You can comment on your own. Works as well","html":"You can comment on your own. Works as well"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":141,"commentSize":13,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1116780100"}