My grandmother was always happy I worked for Warren Buffett (by being a low-level employee at a subsidiary of a company that he held a ~20% stake in). It is about as close a connection as being the Geico lizard, but whatever. I don't work there any more anyway, but I had accumulated a lot of their stock through the employee stock purchase plan (you can't lose! Buy stock at a 15% discount to the market!). Well, you can't lose unless you accumulate a lot of it and then your company causes the global financial meltdown and it's stock drops by two thirds.
Regardless, I had been holding onto it these last two years, waiting patiently until I could sell it for a less embarrassingly large loss. I reached that point Monday, where I decided the price was high enough and their prospects dim enough going forward. So I fully divested
Today, we get news that Warren also sold about a quarter of his position between Monday and Wednesday. Maybe I learned something from him after all.
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