Warren Buffett’s Investment Moves: Apple Sale, Mystery Bank Stock, and More

Warren Buffett’s highly anticipated annual meeting is set to take place this weekend, and investors are eager to hear the legendary investor’s insights on recent moves in Berkshire Hathaway’s equity portfolio. One surprising move was the sale of 10 million Apple shares in the fourth quarter, slightly reducing the conglomerate’s massive stake in the tech giant. Buffett’s deputies may have made the move to fund other purchases, as they did in 2018. Another possibility is that the sale was prompted by Apple’s rising stock price or a desire to diversify the portfolio. Buffett may also reveal the identity of the mystery bank stock that Berkshire has been buying for two quarters straight. The conglomerate’s cost basis for bank stocks has risen significantly, and it’s relatively rare for Berkshire to request confidentiality for its purchases. Other topics likely to be discussed at the meeting include Berkshire’s aggressive buying of SiriusXM tracking stock and its recent loss-making bet on Paramount Global.

Los Angeles Updates Board of Directors

In the first weeks of 2024, Los Angeles held its annual meeting and updated its board of directors. The only candidate who stood for election was Ramon Massons, who will continue as president for at least another five years. The updated board includes several key positions, such as Joan Antoni Expósito as secretary, Sebastián Mulero as vice president, Joan Bobé as vice president, José Vicente Araque as treasurer, Francisco Lozano as Head of Merchandising and Commercial Action, Xavier Duch as Head of Institutional Relations, and Paco Molero as Head of Solidarity. The board will oversee the closure of the 2023 financial year and the 2024 budget.

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