It's not surprising, therefore, that there were few if any headlines trumpeting Berkshire's complete exit from its position in Royalty Pharma (NASDAQ: RPRX) in the second quarter of 2022. Buffett's uncanny ability to pick stocks that beat the market over the long term seems to justify his nickname. Berkshire sold its stakes in pharma stocks (other than J&J) well before Congress passed the Inflation Reduction Act that included these Medicare changes.