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Geopolitical tensions played a role in Warren Buffett’s decision to cut Berkshire Hathaway’s stake in Taiwan Semiconductor Manufacturing Co., the legendary investor said in an interview.
Berkshire Hathaway
BRK.B,
cut its stake in the microchip maker by nearly $4 billion in the fourth quarter. China considers Taiwan a renegade province and reportedly has simulated strikes during drills, following the visit by Taiwan’s president Tsai Ing-win to the U.S. and Central America. Buffett told the Nikkei newspaper that the company was well run but that it had better places to deploy its capital.
Taiwan Semi’s ADRs
TSM,
have climbed 20% this year.
Buffett also told the newspaper that he was proud of its investments in Japanese trading houses that the firm initiated in 2020 and that “there are always a few I’m thinking about.” Shares in all of the trading house firms he owns, which include Sumitomo
8053,
and Mitsubishi
8058,
rose in Tokyo trade.
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