Warren Buffett Sells Shares in BYD

I am quoted by Fortune:

Buffett has long been a proponent of “value investing,” or buying shares
that are considered to be undervalued, and holding them until the market
properly values them.

“Buffett generally holds his instruments for many years; he eventually
exits most of them when he views them as fully valued, or their future
prospects have become less attractive,” David Kass, professor of finance
at the University of Maryland, told Fortune.

BYD’s Hong Kong shares have risen by over 2,700% since Berkshire
bought its BYD stake back in 2008, climbing rapidly since early 2020.
“The share price has recently reflected the improved performance and
outlook for the company,” Kass says, and so Buffett may consider shares
to be “fully valued.”

And Buffett may now be looking for his next big bet. “Perhaps Buffett has
identified other investments that are currently more attractive,” says
Kass.