Warren Buffett Sells His S&P 500 Index Funds Before the Market Crash and Buys a Restaurant Stock Up 375% in 10 Years
The S&P 500 (SNPINDEX: ^GSPC) declined 12% during the next five trading days, leaving the index 19% below the record high reached in February. Ahead of that tariff-driven market crash, Warren Buffett's Berkshire Hathaway made two interesting capital allocation decisions in the fourth quarter. Berkshire sold its entire position in two S&P 500 index funds, the Vanguard S&P 500 ETF (NYSEMKT: VOO) and the SPDR S&P 500 ETF Trust (NYSEMKT: SPY).