Steve Ballmer’s reply to Charlie Munger when questioned about holding Microsoft stock

​Microsoft’s ex-CEO Steve Ballmer recalled an exchange with the late investor Charlie Munger in an interview. It was about why he kept holding Microsoft shares even as some former colleagues and business associates sold theirs. During a panel discussion at a golf club in Los Angeles, Munger, Warren Buffett's former partner, asked Ballmer about his decision to retain the stock. Munger then asked him, “Why is it that when your partners and compatriots around there were selling their stock, you held onto yours? I know you're not that smart.”​Ballmer's response was equally brief: “No, but I'm not loyal.” The exchange offered a glimpse into why Ballmer continued to hold a large Microsoft stake after leaving the company.​Charlie Munger asked Ballmer why he held Microsoft shares​Ballmer recounted the conversation while discussing his belief in Microsoft's people and mission.