(Finance) – Warren Buffettthe most skilled financier on Wall Street, also known as the Oracle of Omaha, is changing strategy to the detriment of the technology sector, which has been smelling of a bubble for some time, ed in favor of more traditional sectors such as food and the production of goods and services of various kinds. But above all, Buffett seems to want to imitate Scrooge McDuck, because he continues to dramatically increase liquidity.
The latest operations of Buffett, which operates through the Berkshire Hathawayits financial arm also listed on the NYSE, were revealed by some regulatory documents made to the SEC, the American Consob.
From the mandatory disclosures made by Berkshire Hathaway, it appears that the company has sold in the third quarter a quarter of its stake in Apple (around 100 million shares out of the 400 million in the portfolio), while it would have purchased shares of the fast-food chain Domino’s Pizza (almost 1.3 million shares equal to a 3.6% stake worth $550 million) and of the swimming pool manufacturer Pool Corporation (over 400 thousand shares equal to 1% of the capital for a value of 153 million dollars).
Buffett has too sold other shares Bank of Americareducing its stake below 10%, e liquidated almost completely the shares of the cosmetics chain Ulta Beautywhich had a heavy backlash on the stock market. Sales that come alongside the stop the buyback of Berkshire.
Movements that have, as always, been observed with some attention by Wall Street, which has recently been taken aback by the Buffett’s tendency to accumulate liquidity. Berkshire Hathaway’s “cash” has reached the record figure of 325 billion dollars and this has the market a little worried, which senses a heavy correction on Wall Street from the highs.
Meanwhile, Domino’s Pizza shares show a nice advantage of 1.95% on the NYSE, together with Pool Corporation which shows an increase of 1.91%. Male Ulta Beauty, which slipped by 2.8%, and Apple, which lost 1.64%. Bank of America is holding up better (-0.25%).