Berkshire Hathaway‘s new investment in Apple was selected by one
of Warren Buffett‘s stockpicking lieutenants, not by the “Oracle
of Omaha” himself.
Berkshire revealed an Apple stake worth nearly $1 billion early
Monday, as part of Berkshire’s quarterly disclosure of its stock
holdings. Mr. Buffett, Berkshire’s chairman and chief executive,
confirmed in an email that he was not the one who added the shares
to Berkshire’s massive equity portfolio.
Mr. Buffett is famously averse to investing in tech companies, and
has specifically ruled out investing in Apple before. But in
recent years, he has added two former hedge-fund managers, Todd
Combs and Ted Weschler, to Berkshire’s investing team. They’ve
shown a willingness to wade into corners of the market that Mr.
Buffett himself won’t touch, including the tech sector.
Apple has long struck me as the sort of company Berkshire likes to invest in. A renowned brand, loyal customers, large profits, and a good, stable executive team that is focused on the long run. They’re obviously in technology, but Apple is nothing like a typical tech company.