Warren Buffett's move out of an $8.5 billion municipal-bond credit default swap position (he was betting against widespread defaults) has some wondering about the state of the municipal-bond market. It also has one commentator asserting that Buffett is as much a trader as he is a long-term investor. Fool analyst Anand Chokkavelu takes issue with that, arguing that the bulk of Berkshire Hathaway's $400 billion-plus balance sheet is invested in fully owned businesses or in long-held shares of public companies including Coca-Cola and Wells Fargo. He also notes that the "trades" Buffett makes are longer-term in nature and at the edges.
Anand explains in the following video.
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