Warren Buffett's Berkshire Hathaway Sells All General Motors Stake
Sale Contributes to Rising Cash Pile
Berkshire Hathaway Inc., the conglomerate led by Warren Buffett, has sold its entire stake in General Motors Co. worth approximately $850 million. The sale was disclosed in a regulatory filing on Saturday and contributes to Berkshire's growing cash pile, which now stands at a record high.
Cash Pile Swells to Record Level
In addition to selling its General Motors stake, Berkshire Hathaway also sold its entire stake in HP Inc. during the first quarter of the year. These sales have significantly increased Berkshire's cash holdings, which now total $146.6 billion, the highest level in the company's history.
Buffett has been vocal about his preference for holding cash over investing in stocks at current valuations. The sale of these positions suggests that he believes the market may be overvalued and that cash is a more prudent investment at this time.
Conclusion
Warren Buffett's Berkshire Hathaway's sale of its General Motors stake and other holdings reflects the legendary investor's cautious outlook on the stock market. With a record cash pile at its disposal, Berkshire Hathaway is well-positioned to take advantage of any opportunities that may arise in the future, while also providing a buffer against market volatility.
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