But Buffett had his reasons for not choosing Bill Gates' horse

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FRI, NOV 30, 2018

WARREN BUFFETT WATCH
 

Buffett favorite Apple falls behind Microsoft in total market value

 

There's a distinct shortage of Warren Buffett news this week, but there are a few "Buffett-backed" items.

 

"Buffett-backed" Apple is now the second most valuable company in the world, just behind Microsoft at the close of NY trading: $851.2B vs $847.4B.

 

Year-to-date, Apple is up 5.5% while Microsoft has soared 29.6%.

 

Buffett's Berkshire owned more than 252 million shares of Apple, currently valued at $45B, as of September 30, according to the CNBC.com Berkshire Portfolio Tracker. Berkshire did not report owning any Microsoft.

 

Keep in mind, however, that Buffett told the 2018 shareholder meeting that early on he didn't buy any Microsoft due to "stupidity." Later, after he and Bill Gates had become friends, "it would be a mistake to buy Microsoft" because some might suspect Gates of giving Buffett inside information.     

 

In August, Buffett told CNBC why he bought Apple and why he'd like the stock to go down.

Also this week, a 1,467% earnings increase for the recent "Buffett-backed" IPO, StoneCo, and "Buffett-backed" Pilot Flying J taking a stake in a shale-field logistics company.

 

BUFFETT AROUND THE INTERNET

 
 
  • CNBC Make It has come up with 10 books that changed the lives of 10 billionaires, including Buffett. 

 

HIGHLIGHTS FROM THE ARCHIVE

 
 

This is a small spoiler alert for the CNBC Make It article mentioned above on the 10 books that changed the lives of 10 billionaires.

 

For Buffett, that book was "The Intelligent Investor" by his mentor Benjamin Graham.

 

Going way back into the CNBC Buffett Archive, here's a great clip from the 1996 Berkshire annual meeting in which Buffett succinctly lists the three key ideas about investing that he learned from Graham's book. (He even identifies the exact chapters you should read.)

 

It's included in a collection of archive clips about books and book recommendations that we've called "The Berkshire Hathaway Reading List."

BERKSHIRE STOCK WATCH

 
 

Berkshire Hathaway Class A shares closed at $326,000 Friday, up 5.7% over the previous four weeks, and up 11.8% from one year ago.

Berkshire Hathaway Class B shares closed at $218.24, up 5.6% over the previous four weeks, and up 13.1% from one year ago.

The benchmark S&P 500 index closed at 2760.17, up 1.4% over the previous four weeks, and up 4.3% from one year ago.

QUESTIONS OR COMMENTS

 
 

Please send any questions or comments to buffett@cnbc.com.

 

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