Why Warren Buffett Almost Never Sells — And Why He Sold Apple

Why did Warren Buffett sell roughly half of Berkshire Hathaway’s Apple stake after spending decades telling investors that his favorite holding period is “forever”? The answer reveals a rule that is often quoted—but rarely understood. Through See’s Candies, Coca-Cola, USAir, The Washington Post, and Apple, this video examines how Buffett decides whether to hold a business for decades or finally walk away. His philosophy isn’t built on loyalty to a stock, fear of market volatility, or a promise never to sell. It is a continuous test of the business, its management, its valuation, and the opportunity cost of the capital invested. In this video, you’ll learn: • How Charlie Munger helped transform Buffett’s investment philosophy • Why business quality matters more than finding the cheapest stock • Why Buffett held Coca-Cola through decades of doubt • What the USAir investment reveals about his willingness to sell at a loss • The three conditions behind Buffett’s “forever” holding period • Why Berkshire’s Apple sales were not necessarily a verdict against Apple • How taxes, concentration, liquidity, and opportunity cost affect investment decisions “Never sell” was never the real rule. The real rule is to hold until something important changes—the business, the price, or what you need the capital to do next. CHAPTERS 00:00 Why did Buffett sell Apple? 00:36 The rule behind “forever” 01:15 See’s Candies changes Buffett’s philosophy 02:27 The Coca-Cola lesson 04:09 When Buffett decides to sell 05:24 The Washington Post investment 06:31 Buffett’s three conditions 07:10 What “hold forever” really means 07:45 The truth about the Apple sale 10:07 The discipline behind the strategy This video is intended for educational and informational purposes only. It does not constitute financial or investment advice. Subscribe to Dadaltox Crew for documentary-style stories about investors, businesses, markets, and the decisions behind long-term we