market folly

Warren Buffett's Berkshire Hathaway has filed a Form 4 with the SEC regarding its position in Verisign (VRSN).

Per the filing, Berkshire slightly trimmed their stake in VRSN on April 29th.  They only sold 32,255 shares at weighted average prices ranging from $88.21 to $91.81.  After these sales, they still own a sizable 12.95 million shares.

This stock was largely thought to be one of Berkshire's younger portfolio managers' holdings (either Ted Weschler or Todd Combs).  These gentlemen now manage $9 billion each for Berkshire.

Per Google Finance, Verisign is "a provider of domain name registry services and Internet security, enabling Internet navigation for domain names and providing protection for Websites and enterprises around the world (Registry Services). The Company operates in Registry Services and Security Services segment. Its product suite also includes Security Services consisting of Distributed Denial of Service (DDoS) Protection Services, Verisign iDefense Security Intelligence Services (iDefense) and Managed Domain Name System (Managed DNS) Services. The Company's Registry Services provides the security and resiliency of Internet infrastructure and services, including the .com and .net domains, approximately two of the Internet's root servers, and operation of the root-zone maintainer functions for the core of the Internet's Domain Name System (DNS). The Company has operations inside, as well as outside the United States. Its operations infrastructure consists of approximately three secure data centers.."