Warren Buffett has never claimed to be able to predict what the stock market would do over the near term. In a 2008 op-ed for The New York Times, he wrote, "I can't predict the short-term movements of the stock market. I haven't the faintest idea as to whether stocks will be higher or lower a month, or a year, from now."

Buffett was down on the utility industry’s prospects in this year’s letter to Berkshire Hathaway shareholders. But it’s not clear what the current value of the utility divisions shares are today. Warren Buffett‘s Berkshire Hathaway is buying the rest of its utility unit from the estate of a longtime board member who died three years ago,

Warren Buffett's company sold another $130 million of HP stock in three days, and has now slashed its position by about 17% in under four weeks.