Warren Buffett, the 'sage of investing'… the stock he regretted selling “too early”

Warren Buffett, the “sage of investing,” said he regretted selling more than half of Berkshire Hathaway’s Apple stake in the past, saying he “sold the Apple stake too early.”

Appearing on CNBC’s interview program “Squawk Box” on the 31st (local time), Buffett said, “Still, I’m glad we bought early and made a profit.”

On Apple, he said, “It has a better business model than any business Berkshire owns,” adding, “At the time, I didn’t want Apple’s weighting in the portfolio to become too large.”

He also praised the leadership of Apple CEO Tim Cook. Buffett said, “CEO Cook is a terrific manager and someone who can get along with everyone in the world,” adding, “Steve Jobs handed over to Cook what he couldn’t do himself.”

He added, however, “It’s possible Berkshire Hathaway could see a price that would justify buying Apple again in a big way, but now isn’t the time,” drawing a line.

Before investing in Apple, Buffett focused on traditional industries such as manufacturing and food and beverages and was reluctant to buy tech stocks. But starting in 2016, he began buying large amounts of Apple shares, signaling interest in tech.

In 2024, Berkshire cut Apple’s weighting in its investment portfolio by half, but Apple still accounts for the largest share among its holdings.

Buffett handed the CEO role to Greg Abel as of January 1 and stepped back from Berkshire’s day-to-day management, but said he still discusses investment strategy with executives every day. “I go to an office near Berkshire, trade with colleagues, and remain deeply involved in Berkshire’s investment decisions,” he said.

He expressed confidence, saying, “Greg won’t make bad investments,” and “the final decision always rests with Greg.”

On the current U.S. stock market, he asserted, “This is nothing.” Buffett said, “After I took control of Berkshire, there were three times when the market fell more than 50%,” adding, “The current market situation is nothing to get excited about.”

He added, “I don’t invest just because stock prices fall 5–6%,” saying, “A truly big opportunity has to come along.”

Buffett said, “Berkshire has $370 billion (about 560 trillion won) in cash and Treasury securities,” adding, “Because there is always a speculative element in the stock market, we must prepare for uncertainty.” His remarks were interpreted as indicating he is staying on the sidelines because he has yet to find an attractive investment opportunity in the U.S. market.

He also said he will restart the “Lunch with Buffett” charity auction, which had been halted after his retirement. The event is an annual auction that has continued since 2000, with the entire winning bid used for social contribution activities. In 2022, the last event, it fetched a record-high $19 million.

Buffett said, “Among the attendees is U.S. basketball star Stephen Curry,” adding, “The proceeds will be donated to the Currys’ charitable foundation and the Glide Foundation in San Francisco.”

Reporter Lee Mi-a mia@hankyung.com