Buffett Bets Big on Homebuilders, Then Exits Suddenly Despite Profit
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Warren Buffett's Berkshire Hathaway invested over $800M in major US homebuilders in 2022, betting on continued housing shortages.
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In December 2022, Berkshire sold off its entire $700M+ stake in leading homebuilder D.R. Horton.
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Buffett has warned about only owning stocks short-term, yet exited this large position in under 6 months.
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Though motive unclear, Berkshire likely profited as homebuilder shares soared 50-70% last year.
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Despite caution on future returns, Berkshire recently posted record $37B operating earnings in 2023.