巴菲特“谢幕”前夜，伯克希尔新舵手建仓谷歌

Core Insights - Berkshire Hathaway, under Warren Buffett's leadership, has made a significant shift by initiating a position in Google-A, purchasing nearly 17.85 million shares valued at approximately $4.3 billion in Q3, marking a departure from its historically cautious stance on tech stocks [1][3] - The investment in Google is seen as a strong indication of the evolving investment strategy under the new leadership of Greg Abel, who is set to take over as CEO [1][3] Investment Strategy - Historically, Berkshire's portfolio has been characterized by investments in consumer goods, financials, and industrials with stable cash flows and understandable business models, reflecting Buffett's investment philosophy [3] - The recent Q3 report shows a rebalancing strategy, with a reduction of about 41.79 million shares of Apple, decreasing its holdings by approximately 15%, indicating a move to lock in profits and optimize the investment portfolio [3][4] - Other reductions included stakes in American Bank and Verizon, contributing to a net selling position in Q3, with the total portfolio value increasing from $257.5 billion at the end of Q2 to $267.3 billion at the end of Q3, primarily due to market performance rather than new purchases [3][4] Strategic Balance - The Q3 holdings reflect a strategic balance during the leadership transition, with increased investments in traditional sectors like insurance and construction while also venturing into tech with Google, showcasing adaptability to changing market conditions [4] - Buffett expressed strong confidence in Abel's capabilities, stating he exceeded expectations and was the best choice to manage the company's assets, which supports a smooth transition and continuity in future strategies [4] - The initiation of a position in Google signals a potential shift towards a more open approach to technology investments while maintaining the core principles of value investing [4]