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This Could Be Warren Buffett's Shrewdest Big Bet Since Making Billions on Apple

Warren Buffett raised some eyebrows with Berkshire Hathaway's sale of 10 million shares of Apple in the fourth quarter of 2023. I wouldn't read too much into the move, though.

Apple remains by far the largest holding in Berkshire's portfolio. Buffett also almost certainly remains a fan of the company. Less than one year ago, he told Berkshire shareholders that Apple was "a better business than any we own."

Investing in Apple has proven to be a smart decision for Buffett. Since he first bought shares of the tech giant in the first quarter of 2016, Apple's market cap has increased by close to $2.2 trillion.

But now Buffett is aggressively buying another stock. And it could be his shrewdest big bet since making billions of dollars on Apple.

Buffett's big zig
As far as I know, Buffett has never uttered the phrase, "Zig when others zag." However, his famous statement about being "fearful when others are greedy, and greedy when others are fearful" expresses a similar sentiment. The legendary investor is practicing what he preaches with what I'd call a pretty big zig -- buying shares of Occidental Petroleum (NYSE: OXY) hand over fist.

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https://finance.yahoo.com/news/could-warren-buffetts-shrewdest-big-105000230.html

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