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Berkshire Hathaway Inc. Message Board

  • hjclasvegas6969 hjclasvegas6969 Mar 5, 2013 7:53 AM Flag

    dear uncle warren, please watch druckenmiller, on cnbc this morning,

    and give very serious thought to reducing our exposure to the index puts we are short, unhedged , while the markerts are at record highs with the VIX at 14.

    btw, if these puts have lost 5 years in time value and the markets are at record highs with a low VIX, HOW can we be in the hole on these contracts if you covered some or all of them if the buyers let you cover ? thank you.

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    • Hi H, the AR is year-end 2012; I don't think we can be underwater on those puts today.

      Does it strike you as somewhat ironic that WEB has now found religion when it comes to stock buybacks? I still cannot understand why he was so adamently against them for all those years and now he seems to embrace them like there is no tomorrow. Just as BRK was so overwhelmingly a better alternative to cash for many years of BRK's existence, and particularly during and after the '09 crash, I just can't believe that BRK was the absolute cheapest large cap stock out there to buy at the end of 2012. What gives?

 
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