We have reported before that Warren Buffett continues to sell Berkshire Hathaway’s holdings with The Procter & Gamble Company, ConocoPhillips, Johnson & Johnson, Moody's Corp. Today Berkshire sold another 1.35 million shares of Moody’s. With the sale Berkshire still owns more than 29.4 million shares.
Berkshire has been reducing its holdings with Moody’s since 2009. The average price of the latest sales is about $25.16. Although it is much higher than Buffett’s original cost (around $10 a share), but Warren Buffett could have sold the shares at $70s at the top of the credit bubble. This is the holding history of Berkshire with Moody’s:
Not selling Moody’s could be one of the two biggest mistakes Warren Buffett has made in recent years. He bought the shares, and ignored the deterioration of business operation, and it cost Berkshire billions.
The other mistake Warren Buffett made was buying ConocoPhillips (COP) at the peak of the oil prices. He has since reducing the position as the stock prices declined. This is the holding history of Berkshire Hathaway with COP:
This was what Warren Buffett wrote in Feb. 2009 in his shareholder letter regarding to his mistakes with COP:
I told you in an earlier part of this report that last year I made a major mistake of commission (and maybe more; this one sticks out). Without urging from Charlie or anyone else, I bought a large amount of ConocoPhillips stock when oil and gas prices were near their peak. I in no way anticipated the dramatic fall in energy prices that occurred in the last half of the year. I still believe the odds are good that oil sells far higher in the future than the current $40-$50 price. But so far I have been dead wrong. Even if prices should rise, moreover, the terrible timing of my purchase has cost Berkshire several billion dollars.
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Berkshire has been reducing its holdings with Moody’s since 2009. The average price of the latest sales is about $25.16. Although it is much higher than Buffett’s original cost (around $10 a share), but Warren Buffett could have sold the shares at $70s at the top of the credit bubble. This is the holding history of Berkshire with Moody’s:
Not selling Moody’s could be one of the two biggest mistakes Warren Buffett has made in recent years. He bought the shares, and ignored the deterioration of business operation, and it cost Berkshire billions.
The other mistake Warren Buffett made was buying ConocoPhillips (COP) at the peak of the oil prices. He has since reducing the position as the stock prices declined. This is the holding history of Berkshire Hathaway with COP:
This was what Warren Buffett wrote in Feb. 2009 in his shareholder letter regarding to his mistakes with COP:
I told you in an earlier part of this report that last year I made a major mistake of commission (and maybe more; this one sticks out). Without urging from Charlie or anyone else, I bought a large amount of ConocoPhillips stock when oil and gas prices were near their peak. I in no way anticipated the dramatic fall in energy prices that occurred in the last half of the year. I still believe the odds are good that oil sells far higher in the future than the current $40-$50 price. But so far I have been dead wrong. Even if prices should rise, moreover, the terrible timing of my purchase has cost Berkshire several billion dollars.
Also check out:
