Warren Buffett is still finding new places to invest decades after he started, even though his basic approach of finding businesses selling for less than they are worth hasn’t changed much.
Buffett resisted investing in tech companies for years because he didn’t think he could pick which ones would be enduring winners, but now his Berkshire Hathaway conglomerate is a major Apple shareholder because he views Apple as a consumer products company with loyal customers.
FILE- In this Aug. 2, 2018, file photo an electronic screen displays Apple stock at the Nasdaq MarketSite in New York. Warren Buffett resisted investing in tech companies for years because he didn’t think he could pick which ones would be enduring winners, but now his Berkshire Hathaway conglomerate is a major Apple shareholder. Berkshire details its stock holdings in a quarterly regulatory filing which is expected to be made Tuesday, Aug. 14. (AP Photo/Mark Lennihan, File)The Omaha billionaire, whose Berkshire Hathaway owns Shaw Industries in Dalton, Georgia and Clayton Homes in Knoxville, along with one of the the biggest franchise real estate agencies in Chattanooga, used to joke that airlines were such a bad investment that someone should have shot down the Wright brothers. Today, Berkshire holds investments in several major airlines.
Berkshire investors have generally profited as Buffett found new ways to put the company’s money to work over the years, although he has made mistakes along the way. Berkshire could reveal some more surprises when the Omaha, Nebraska-based company details its stock holdings in a quarterly regulatory filing which is expected to be made Tuesday.
The biggest change Berkshire made to its stock portfolio this year has been adding to its Apple holdings. Some of the smaller changes that get disclosed, such as the new stake in Teva Pharmaceuticals that Berkshire bought last year, might be the work of the company’s two other money managers.