Video Link: https://youtu.be/PTe3UFR8fMA
When to sell? 1. When you need money for other opportunity. 2. When you believe the valuations between different kinds of markets are somewhat out of whack.
[Full Videos of Berkshire Hathaway Annual Meeting 1998]
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[My 2 Cents]
When to buy? "The ideal purchase is to have something that you already liked be selling at a price where you feel like buying more of it. I mean, we probably should have done more of that in the past in some situations. But that’s the beauty of marketable securities. You really do — if you’re in a wonderful business, you do get a chance, periodically, maybe to double up in it, or something of the sort. If the market — if the stock market were to sell a lot cheaper than it is now, we would probably be buying more of the businesses that we already own. They would certainly be the first ones that we would think about. They’re the businesses we like the best."