Berkshire Hathaway recently held its annual shareholder meeting in Omaha, Nebraska. This was the first meeting without Charlie Munger, who passed away in November 2023. Warren Buffet also mused whether he would attend the next annual shareholders meeting in Omaha, Nebraska. Warren Buffet spoke of Berkshire’s investments and sales. It took total responsibility for selling the company’s Paramount (PARA) stake at a loss and other sales, including cutting its stake in Apple and more.
Warren Buffet is called the Oracle of Omaha. At the shareholders meeting, he said, “I was 100% responsible for the Paramount decision. It was 100% my decision, and we’ve sold it all, and we lost quite a bit of money.”
In the first quarter of 2022, Berkshire Hathaway bought a nonvoting stake in class B shares of Paramount. Following this, Paramount stock saw a decline in value after an earnings miss, the exit of a CEO, and a dividend cut. In 2022, the media company’s share price fell by 44 percent. It also saw a 12 percent fall in 2023.
The latest filing said that Berkshire owned 63.3 million shares at the end of 2023. It cut its position by about 33 percent in the fourth quarter of 2023.
Warren Buffet also said Berkshire Hathaway cut its stake in Apple by 13 percent in the first quarter. The tech stock has been one of his favorites, and he suggested that the company sold its Apple shares for tax reasons, as it had made sizable gains.
Buffets also said that Apple (AAPL) remaining the company’s largest holding by the end of this year was “extremely likely.”
Berkshire Hathaway is Apple’s largest shareholder outside of exchange-traded fund providers and is expected to remain the same as Buffet, who continues to believe in the tech giant.
Warren Buffet does not seem to be a fan of AI and said that AI scamming would be the next huge “growth industry.” He also spoke of Berkshire Hathaway looking at an investment in Canada but did not mention the company’s name.
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