Subject: Re: OXY
Not that it hasn’t been hashed into tiny granules, but another pass:

Buffett Violates Own Rule in Buying Occidental Stock

One of Warren Buffett’s favorite maxims is to stick with winners and not add to losing investments. His Berkshire Hathaway seems to be violating that principle with its recent purchases of Occidental Petroleum and Sirius XM Holdings stock.“

We are just the opposite of those who hurry to sell and book profits when companies perform well but who tenaciously hang on to businesses that disappoint. Peter Lynch aptly likens such behavior to cutting the flowers and watering the weeds,” Buffett wrote.

Buffett has generally hewed to that approach over the years, sticking with such big winners as American Express and Coca-Cola in Berkshire’s $300 billion portfolio.

But he went against principle when he cut Berkshire’s stake in Apple this year by two-thirds, to 300 million shares. In doing so he left more than $35 billion on the table and incurred a sizable tax bill that could total $20 billion, Barron’s estimates.

Both Occidental and Sirius XM stocks are down sharply this year and have been trading below Berkshire’s average cost
https://www.barrons.com/articl...