Buffett on When to Sell a Stock (2002)

In the opening question of the 2002 Berkshire Hathaway Annual Meeting, a shareholder asks Buffett one of the most fundamental questions in investing:

“How do you decide when to hold a stock and when to sell it?”

Buffett lays out a clear, timeless framework based on business quality, long-term economics, and opportunity cost, the same mental model he and Charlie Munger use across the entire Berkshire portfolio.

There’s also a classic comedic moment when the shareholder asks:
“…and are you and Mr. Munger wearing Fruit of the Loom?”
Buffett answers with perfect deadpan humor before diving into the lesson.

In this video, I break down Buffett’s logic and show how it applies to modern investors — all part of my ongoing Becoming Berkshire project, where I analyze every Berkshire meeting from the 1960s to today.

For deeper writeups, transcripts, charts, and historical context, check out my Substack:
👉 https://becomingberkshire.substack.com

Видео Buffett on When to Sell a Stock (2002) канала Becoming Berkshire