The stock god takes a bow! In the final year of his Berkshire career, Buffett firmly "sells stocks and hoards cash"
Buffett officially stepped down as CEO of Berkshire Hathaway today. In the first nine months of this year, Berkshire net sold $10 billion in stocks, becoming a net seller of stocks for the third consecutive year, with cash reserves soaring to a historic high of $358 billion. Since Buffett took the helm of Berkshire, an initial investment of $100 has grown to approximately $5.5 million, while the S&P 500 index has returned about $39,000 during the same period, with the performance of his investment portfolio exceeding the market benchmark level about 67% of the time
