INSUBCONTINENT EXCLUSIVE:
its Apple stake by 1 percent in a period that marked its first holiday quarter sales decline in 18 years.By Katherine Chiglinsky and Ben
took advantage of a plunge in bank stocks to pile even further into his bet on financials, while trimming a giant stake in Apple
Inc.Berkshire spent the last half of the year snapping up more shares of banks and insurers, moves that made the company a major shareholder
in four of the five largest United States banks
The Omaha, Nebraska-based conglomerate boosted its stake in JPMorgan Chase Co
in the last three months of the year.Key InsightsBerkshire reduced its Apple stake by 1 percent in a period that marked its first holiday
quarter sales decline in 18 years and saw shares plunge 30 percent
investing in International Business Machines Corp., but he may have made quite a haul on its latest purchase
Berkshire owned 4.2 million shares of Red Hat Inc
29.Berkshire also boosted its stakes in regional lenders, including PNC Financial Services Group Inc
and United States Bancorp
has led to speculation that more deals are coming.Market ReactionOracle shares dropped 1.3 percent at 4:56 p.m
in New York, after the end of regular United States trading
Berkshire eventually plowed in when the timing aligned, according to Vice Chairman Charles Munger
After taking a $2.1 billion stake in the software firm in the third quarter, Berkshire had sold out by year-end
Buffett has typically taken a more cautious approach to technology companies, given his lack of familiarity with the space.Buffett likes to
take advantage of what he views as fear in the markets, and that certainly hit banks last quarter
The SP 500 Financials Index dropped 14 percent in the fourth quarter, the worst period in more than seven years
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