股神谢幕！伯克希尔生涯最后一年，巴菲特坚决“卖股票，囤现金”

Core Viewpoint - Warren Buffett, in his final year as CEO of Berkshire Hathaway, adhered to his investment principles by selling stocks and accumulating cash reserves, reaching a historic high of $358 billion [1][5] Group 1: Investment Strategy - Buffett sold $10 billion worth of stocks in the first nine months of the year, marking the third consecutive year as a net seller of stocks [1] - The decision to hold cash during a market peak reflects Buffett's long-standing strategy of maintaining liquidity for future investment opportunities [8] - Buffett emphasized the importance of having sufficient cash on hand for significant opportunities that may arise unpredictably [5] Group 2: Stock Holdings - Berkshire Hathaway significantly reduced its stake in Apple, selling approximately 41.79 million shares in the third quarter, resulting in a total reduction of over 14.9% from the previous quarter [7] - Despite the reduction, Apple remains one of Berkshire's largest holdings, with an impressive return of 834% since the initial investment in 2016 [7] Group 3: Major Acquisition - Berkshire completed its last major acquisition by purchasing OxyChem, a chemical producer under Occidental Petroleum, for $10 billion, providing much-needed cash for Occidental while potentially securing an attractive price for Berkshire [10] Group 4: Leadership Transition - Buffett announced his retirement, passing the leadership to Greg Abel, who has received high praise for his understanding of the company's potential and risks [12] - The leadership change is accompanied by shifts in the core team, including the departure of key executives [12] Group 5: Market Reaction - Following Buffett's announcement of his retirement, Berkshire's stock price has declined by over 6%, indicating concerns about the company's future without Buffett's influence [13]