“Berkshire bought a substantial position in Taiwan Semiconductor, and contrary to its normal holding timeline, sold almost the entire position within a few short months.
While you cited in a CNBC interview that geopolitical issues were the catalyst, these issues were seemingly no different when you acquired that stock.
So, what else, if anything, changed in those few months and prompted the firm to offload close to $5 billion worth of Taiwan Semiconductor shares?”
Taiwan Semiconductor’s one of the best managed companies and important companies in the world. And I think you’ll be able to say the same thing five, or ten, or 20 years from now.
I don’t like its location. And I’ve reevaluated that. I mean, I don’t think it should be any place but Taiwan, although they will be, obviously, opening up chip capacity in this country.
And actually, one of our subsidiaries that we got in Alleghany is participating in their Arizona construction activities.
But it’s a question of we would rather have the same kind of company. And there’s nobody in the chip industry that’s in their league, at least in my view.
And the man that is a 91-year-old or so connected with it, that I think I played bridge with him in Albuquerque, and they’re marvelous people, marvelous company. But I’d rather find marvelous people — and I won’t find it in the chip industry.
But marvelous people and marvelous competitive position and everything, I’d rather find it in the United States.
I feel better about the capital that we’ve got deployed in Japan than Taiwan. I wish it weren’t so, but I think that’s the reality. And I’ve reevaluated that in the light of certain things that were going on. Charlie?
Well, my view is that Warren ought to feel comfortable if he wants to. (Laughter)
Yeah, yeah. Put that in the minutes. (Laughter)
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