[巴菲特班] 老巴：我不承襲別人的明牌

網誌： 巴菲特班 洪瑞泰 (Michael On)
文章： 老巴：我不承襲別人的明牌
連結： http://mikeon88.blogspot.com/2011/03/blog-post_09.html


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巴菲特澄清4Q10出清BoA、Nike、雀巢，
純粹是因經理人Lou Simpson退休，
不是老巴未看好這些公司

http://www.cnbc.com/id/41868643

Buffett Says Don't Draw Conclusions From Sales: "I Never Inherit My Investment Decision"
Published: Wednesday, 2 Mar 2011 1:23 PM ET Text Size By: Alex Crippen
Executive Producer
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Warren Buffett says investors would be wrong to think Berkshire Hathaway's elimination of eight stocks from its portfolio means he's negative on the companies that were sold.

Last month, Berkshire's portfolio filing with the SEC showed that eight positions were liquidated in last year's fourth quarter, including Bank of America [BAC 14.59 -0.10 (-0.68%) ] and Nike [NKE 88.95 -0.24 (-0.27%) ].

At the time, we guessed that Berkshire was cleaning out the positions that had been created by Lou Simpson, who retired at the end of 2010.

On today's live Squawk Box appearance, Buffett confirmed that he and Simpson had jointly decided to liquidate the GEICO stockpicker's portfolio.

"I never inherit my investment decision from somebody else. If Charlie Munger made me a gift of 100 shares of some stock, I would sell it then — and then —I would then decide whether I wanted to buy it again myself. But I do not believe in default-type decisions on investments. So When Lou left, his portfolio left. When a new man comes in, his portfolio comes in."

That new man is Todd Combs. Buffett says Combs "is going to be responsible for his decisions — just as Lou was when he was (at Berkshire subsidiary GEICO.) And I want it to be Todd's portfolio."


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