It looks like it’s Warren Buffett’s turn to say, “I told you so.” Late last year, the Berkshire Hathaway CEO was busy selling stocks when the S&P 500 logged more than 50 record closes, leading many market observers to scratch their heads.

Warren Buffett’s Berkshire Hathaway recently sold its entire position in the Vanguard S&P 500 ETF and the only other index fund it held, which was also an S&P 500 index fund. These funds track the S&P 500,

Warren Buffett over the last six decades transformed Berkshire Hathaway ( BRK.A 2.87%) ( BRK.B 2.27%) from a small textile operation into a trillion-dollar company. Under his leadership, Berkshire shares have advanced more than 5,500,000%, crushing the 39,000% return in the S&P 500 ( ^GSPC 1.59%).