Too greedy or too cautious
Warren Buffett, the so-called “Sage of Omaha”, admitted in a recent interview that he sold a large chunk of his shares in Anheuser-Busch prematurely.
When asked for his opinion on the still pending sale of Anheuser-Busch, Mr Buffett, who turned 78 on 30 August 2008, said that his widely reported sale of a large chunk of his stake in the St. Louis brewer had been due to his doubts that the deal would go through, particularly given Anheuser’s opposition.
Mr Buffett, who is also the world’s richest man according to Forbes magazine, disclosed that he sold his shares for USD 61 or USD 62 each before Belgium-based InBev raised its offer to USD 70 a share, or USD 52 billion, for its U.S. rival.
"In retrospect, I was wrong to decide to partially sell the holdings. But that’s not news; I’m often wrong," Mr Buffett told Dow Jones Newswires. He confirmed that his investment vehicle Berkshire now holds about a third of its former stake in Anheuser-Busch - 13.8 million shares as of 30 June, compared with 35.6 million in the previous quarter, according to SEC filings.
