Some major screwup made it seem as though the State of Michigan sold nearly all of their stock.
This did NOT happen.
State Treasurer of Michigan Portfolio
SOME SIGNIFICANT DOUBT IS CAST ON THIS REPORT
-- it is possible the state of Michigan retained ALL of its Microvision holdings --- and all of everything else. --- when I am SURE that it is an error, I will change this post.
Normally I like to focus strictly on the technology and its prospects & what the company is doing.
However, this rather significant event happened.
Taken out of context it seems to be very bad news.
Taken in context, it's not really news.
The State of Michigan sold nearly its entire holdings of Microvision.
They reduced their holdings in many companies:
Apple.......................................90.19%
Goldman Sachs.......................76%
Walmart...................................92.31%
Visa.........................................75.34%
They increased their holdings in Berkshire Hathaway by 20,589% -- they are essentially outsourcing their money management to Berkshire. In a 6.7 Billion dollar fund, they sold most of everything, and purchased 5.2 billion in Berkshire.
Losing a large investor isn't good for the stock price (or the people who were holding) but it isn't a statement about Microvision.
In fact, we can be pretty pleased that the State of Michigan had someone attend the Microvision conference call last week.
Peter Jungmann
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