Longtime Berkshire Hathaway Investor Accuses Warren Buffett of This

A longtime shareholder of Berkshire Hathaway has sold his stake and has accused Warren Buffett of “thumb sucking.”

David Rolfe, who is the chief investment officer at Wedgewood Partners, and a former long-time investor of Buffett’s Berkshire Hathaway, has had enough.

He said, “Thumb-sucking has not cut the Heinz mustard during the Great Bull Market.”

Rolfe is fed up with Berkshire Hathaway’s huge cash hoard, lackluster investments (including IBM and Kraft Heinz) and missed investment opportunities.

In a third quarter letter to clients, Rolfe wrote, “The Great Bull could have been one helluva of an astounding career denouement for Messrs. Buffett and [Vice Chairman Charlie] Munger.”

Rolfe has said the company’s moves “do not inspire confidence that Buffett & Co. are still at the top of their game.”

Wedgewood Fund had owned 48,000 shares.

Disclaimer: We have no position in Berkshire Hathaway Inc. Class A (NYSE: BRK.A) and have not been compensated for this article.