Warren Sherberg, Is It a Good Idea to Sell Philips 66?

Warren Buffett: My theory, Warren, is if it can't stand with a little mismanagement, it's no business. We sold the stock at around 93 or 4 and probably 115 now but we own just under 10% of the company. The more Ted and Todd and I think about various problems, connect to regulatory problems and trading problems,. Overwhelmingly, we will stick below 10% on marketable security holdings.