Longtime Berkshire Hathaway shareholder sells stake, accusing Warren Buffett of 'thumb-sucking'

Rolfe told clients in a letter he sold the firm's stake in Berkshire after decades of being shareholders, noting his frustration with the conglomerate's massive cash hoard, lackluster investments and what he thinks are missed investment opportunities by the Oracle of Omaha and his team during the current bull market.

Berkshire Hathaway shares have lagged the S&P 500 over the current bull run, which started March 2019. In that time, Berkshire's Class A stock is up 323% while the broad index has gained 334%. "Thumb-sucking has not cut the Heinz mustard during the Great Bull Market," Rolfe wrote in the third-quarter letter to clients. "The Great Bull could have been one helluva of an astounding career denouement for Messrs. Buffett and [Vice Chairman Charlie] Munger."owned 48,000 shares of the Berkshire B class of stock, amounting to about $10 million. And Rolfe's performance throughout the bull market has not been the best, either.

Berkshire's cash pile swelled up to more than $120 billion by the end of the second quarter of 2019, a record for the company. In his annual letter to shareholders, Buffet said he wanted to make an "" but noted prices were "sky-high." Rolfe thinks so much cash is a "considerable impediment of growth" for the company.

Rolfe also grew frustrated with some of Berkshire's investments during the current bull market. He highlighted IBM and Kraft Heinz, among others.

$BRK.B has gone sideways the past two years along with the rest of the market. Prior to that, the stock went on an incredible run. “If you aren’t thinking about owning a stock for 10 years, don’t even think about owning it for 10 minutes.” From the man himself.

buffett is an idiotic hateful liberal who campaigned for crooked hillary

I agree, Berkshire is just not an attractive investment anymore.

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