Warren Buffett's Berkshire Hathaway beat Apple on the investment appeal to multimillionaires. According to Bloomberg, Michael Sonnenfeldt, the head of Tiger 21, the club of well-heeled investors, has said about it.
Apple held the title of the Tiger 21 favorite stock for the past two years. Berkshire Hathaway outstripped the electronics producer, as Berkshire Hathaway shares are still attractive, while Apple’s best days passed, Sonnenfeld said. The results of the club members survey were released on October 22.
In early 2013, Apple shares were traded above a $600 mark, but they began to fall in price later. By April, the equities of the company depreciated to $390. Furthermore, at the end of the summer, the stock was rising again. On October 22, they were at the level of $514 per share (a 14 percent decline comparing with the beginning of the year).
The price of Berkshire Hathaway shares was $140 in the first of 2013 . Within next few months, the shares were increasing gradually and now reached a $175 mark (up 25 percent).
Tiger 21 is a group of 220 investors, businessmen, and top managers, every member of which has invested at least ten million dollars in various assets. The total volume of the club investment is over $20 billion.
