After the Internet bubble burst in 2001, Buffett said, "Although the stock market has fallen for three years and ordinary stocks have greatly increased their attractiveness, we still believe that there are still few stocks that can make us moderately interested."

Then he sold a lot of shares, and the cash position was as high as 50%. It was not until after the financial crisis in 2008 that he made a big move, and Apple did not buy heavily until 2016.

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