Berkshire Hathaway Sells $2.5B of IBM & Buys $600N of Apple in Q3

In its Form 13F filing released after the market closed today, Berkshire Hathaway reported that it sold approximately 30% of its stake in IBM (NYSE:IBM) for about $2.5 billion, and purchased an additional $600 million of Apple (NASDAQ:AAPL) during the third quarter of 2017.  The sale of 17 million shares of IBM were at an approximate price of $150 per share, which was below Berkshire’s average cost of $170 per share.

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Berkshire also increased its positions in Monsanto (NYSE:MON) and Synchrony Financial (NYSE:SYF) by about $100 million each.

Berkshire also decreased its stake in Charter Communications (NASDAQ:CHTR) by about $300 million and Wells Fargo (NYSE:WFC) by about $175 million.

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Missed Opportunity Economic Opportunity ZonesThis is the first part of a multi-part series on Economic Opportunity Zones. The tax-efficient zones were brought in as part of the Tax Cuts and Jobs Act of 2017 to try and stimulate economic activity in underdeveloped regions. Q2 2020 hedge fund letters, conferences and more   The following articles will cover the benefits Read More


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David I Kass Clinical Associate Professor, Department of Finance Ph.D., Harvard University Robert H. Smith School of Business 4412 Van Munching Hall University of Maryland College Park, MD 20742-1815 Phone: 301-405-9683 Email: [email protected] (link sends e-mail) Dr. David Kass has published articles in corporate finance, industrial organization, and health economics. He currently teaches Advanced Financial Management and Business Finance, and is the Faculty Champion for the Accelerated Finance Fellows. Prior to joining the faculty of the Smith School in 2004, he held senior positions with the Federal Government (Federal Trade Commission, General Accounting Office, Department of Defense, and the Bureau of Economic Analysis). Dr. Kass has recently appeared on Bloomberg TV, CNBC, PBS Nightly Business Report, Maryland Public Television, Business News Network TV (Canada), Fox TV, American Public Media's Marketplace Radio, and WYPR Radio (Baltimore), and has been quoted on numerous occasions by Bloomberg News and The Wall Street Journal, where he has primarily discussed Warren Buffett and Berkshire Hathaway. He has also launched a Smith School “Warren Buffett” blog. Dr. Kass has accompanied MBA students on trips to Omaha for private meetings with Warren Buffett, and Finance Fellows to Berkshire Hathaway’s annual meetings. He is an officer of the Harvard Business School Club of Washington, DC, and is a member of the investment and budget committees of a local nonprofit organization. Dr. Kass received a Smith School “Top 15% Teaching Award” for the 2009-2010 academic year.