Warren Buffett Sold 2 S&P 500 Index Funds Mere Months Before the Correction, but He Doesn't Have a Crystal Ball

Had you invested $1,000 in the Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) holding company when Warren Buffett took the helm as CEO in 1965, you would have been sitting on a whopping $44.7 million at the end of 2024. The same investment in the S&P 500 (SNPINDEX: ^GSPC) index would have grown to just $342,906 over the same period. Berkshire currently holds $277 billion worth of publicly traded stocks and securities, but that portfolio is much smaller than it was at this time last year, following a selling spree by Buffett and his team. They even sold the conglomerate's only two S&P 500 index funds -- the Vanguard S&P 500 ETF and the SPDR S&P 500 ETF Trust -- during the final three months of 2024.Berkshire only owned $46 million worth of those index funds in total. Nevertheless, it sold them just months before the S&P 500 entered correction territory last week. But Buffett doesn't have a crystal ball; he's simply following his time-tested strategy which has worked so well for Berkshire over the last 59 years, so here's why investors shouldn't panic over his recent moves.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool