“It it were cheaper we’d be buying it. We aren’t buying it here.”
Three takeaways from Becky Quick’s interview with Warren Buffett on CNBC:
- Breaking news? Apparently neither she, not CNBC’s chyron writers, had heard that it wasn’t Buffett who sold 2.9 million Apple shares last quarter.
- Buffett knows the average cost of his Apple shares down to the dollar (“$141 or something like that”) and sees it as some sort of benchmark.
- He either ducked the question about Apple’s zero-buyback December, or didn’t understand it.
My take: Buffett likes to keep things simple. “Apple, I don’t see myself selling. The lower it goes, the better I like it. Obviously.”