While it’s not unusual at all for enterprises to rebalance their investment portfolios, the jettisoning runs counter to Buffett’s philosophy.
In response to the sharp decision, TSM stock dropped more than 5% in late-afternoon trading. Selling 51 million shares or 86% of its position, Berkshire left many analysts searching for answers. In a startling move, legendary investor Warren Buffett - via his conglomerate Berkshire Hathaway (NYSE: BRK-A, NYSE: BRK-B) - dumped a massive portion of holdings in chip contract manufacturer Taiwan Semiconductor (NYSE: TSM). InvestorPlace - Stock Market News, Stock Advice & Trading Tips
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