Billionaire Warren Buffett has now missed out on about $40 billion in profits after selling large chunks of Berkshire Hathaway assets early, a new report has found.
The famed investor cut Berkshire’s holdings by a net $127 billion in 2024. reports Barron’s, which is making headlines for dumping about $100 billion in Apple stock and $10 billion in exposure to Bank of America.
Buffett’s Apple sales alone leave about $20 billion on the table.
And Berkshire has posted another $20 billion in profits when we factor in the company’s year-long exit from the U.S. banking industry, which also includes the aforementioned sales of BofA, JPMorgan Chase, Wells Fargo and Goldman Sachs.
Although Buffett sold early, he has amassed a record $311 billion in firepower on the sidelines that he can deploy if market conditions become attractive to the 94-year-old CEO.
Over the past five years, Berkshire Hathaway’s returns have largely tracked the S&P 500.
The company’s shares are up 27% this year, and KBW analyst Meyer Shields says the incoming Trump administration could have a net positive effect on the company.
“Trump’s goal is to stimulate more economic activity, and this should translate into growth at the non-insurance subsidiaries…
[Buffett’s] succession probably means little from an operational perspective, but a lot for investor perception of Berkshire Hathaway. Buffett has earned a distinguished place in the pantheon of investors and business leaders.”
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