I am quoted by Fortune:

Buffett has long been a proponent of “value investing,” or buying shares that are considered to be undervalued, and holding them until the market properly values them.

Image: BYD

“Buffett generally holds his instruments for many years; he eventually exits most of them when he views them as fully valued, or their future
prospects have become less attractive,” David Kass, professor of finance at the University of Maryland, told Fortune.

BYD’s, (the Chinese EV vehicle company manufactures buses in California) Hong Kong shares have risen by over 2,700% since Berkshire (BRK-B) bought its BYD stake back in 2008, climbing rapidly since early 2020.
“The share price has recently reflected the improved performance and outlook for the company,” Kass says, and so Buffett may consider shares to be “fully valued.”

And Buffett may now be looking for his next big bet. “Perhaps Buffett has identified other investments that are currently more attractive,” says Kass.

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