103 24/08/08Billionaire Warren Buffet Sold over a half

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1. Billionaire Warren Buffet slashed Berkshire Hathaway’s massive Apple stake in a move that could prove unsettling for the broader stock market because the investor is so revered, and there had been little positive financial news lately.

2. The Apple sale is such a surprise because just two years ago, Buffett was calling the stock one of the four giants of his conglomerate’s  business alongside Berkshire Insurance, Utility, and BNSF Railroad businesses that it owns outright.

3. That gave investors the impression Buffett might hold onto Apple indefinitely, like he did with Coca-Color and Amex shares he bought decades ago, although he has trimmed the Applestake over the past year. I’m Julie Walker.