Even as Berkshire sits on US$137bil of cash, and as the pandemic would seem to have created cheap buying opportunities, Buffett is selling stocks and avoiding acquisitions.
WHAT’S Berkshire Hathaway Inc without its deals? Perhaps not worth owning. That’s the calculation Bill Ackman seems to have made in choosing to exit his stake in Warren Buffett’s company, and who can blame him?
Ackman, the widely followed hedge fund manager, disclosed Wednesday that his firm, Pershing Square Capital Management, sold a short-lived stake in Buffett’s Berkshire Hathaway, an investment that was valued at nearly US$1bil.
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