Not at all following your logic in trimming the position. Just a few days ago the 52 week high had been $119.30 (on the B's). The stock had bounced around and then dropped to the $109 level and now has had a nice move to $122+. The reality is that on the long term chart the recent rally is nothing more than a 'blip'....in no way is it statistically significant. Also in regards to the S&P 500 index how does BRK still compare? This year, 5 years, 10 years.....has there been any meaningful statistical outperformance? As has been repeatedly posted on the experts board BRK's book value has increased at a far greater pace than the index but the stock price has not. Lastly the annual meeting is not that far off and that always seems to generate a lot of interest in the company/stock.
p.s. hopefully you're not the guy on the 'expert board' who posted that the recent price increase in BRK was causing him "mental anguish" as he had hoped to continue to buy cheap shares. UCMTSU!!!
Sentiment: Strong Buy
Not too long ago there was a long climate change thread on the experts board and of course many were insistent that WEB and Jain were obviously factoring it into their insurance pricing 'models.'
Wonderful results especially the operating earnings but very sad as to how the failure to meet the performance metric was handled. Since things can be arbitrarily changed at any point in time (imagine changing the rules after the game has ended turning defeat into a victory?) the shareholders manual has little or no value.
What are your concerns?
My prediction is that the AR will address the underperformance by blaming it on "size" and that there will be an announcement/change regarding the buyback policy. Certainly the easy way out is to increase from 1.2 to 1.3 and while it will sound good the end result will be very few if any shares actually repurchased. If WEB really does want to buy shares then it needs to go up to at least 1.5.
Perhaps a question for the Ted's is if they are restricted from buying BRK.
anyone needing a few laughs should read some of the posts on the expert board about Buffett's estate planning for his wife. they tell you what he "really meant to say." Perhaps the most idiotic post of all was from mungofish who claims that Buffett could not mention that she should hold BRK because it would be a "conflict of interest." UCMTSU!!!!!!!!!!!
made me think of todd who for reasons unknown became convinced that he was capable of predicting the movement of the overall market. Several posters on the experts board seem to think that they have that ability as well. ucmtsu!!!!!!!!!
Waiting for the excerpt from the annual letter that addresses underperformance.................
On the expert board no one is cheering about the beating that L took yesterday. Considering how they were hoping for a continued price decline in BRK one would think they would be absolutely giddy about the decline in L. After all down is good !! ucmtsu !!!
Despite posts to the contrary one can only wonder about the portfolio performance return (vs. the S&P 500) of those on the expert board. How is it possible to tout a bunch of stocks that underperform and/or sitting with a large % of cash but then still post saying/hinting how well you are doing ???
Are you aware that rationalwalk is your long lost son?? Remember when "Down was good"?
there are explanations as to why they are "cheering" for a price decline so that buybacks can be initiated. ucmtsu !!!!!!!!!
note: did Buffett once write about the failure to buy WMT because he stubbornly waited for an additional decline in price, etc.
Over the past 5 years stock has underperformed and per Buffett's measuring stick has failed the 'test.'
Shareholders should be anything but happy.
Poster rationalwalk posted that he is "done with the board." Many posters begging him to remain. How it went down:
- rationalwalk posted that BRK should consider buying PRG
- poster questioned why BRK would want to buy PRG which is trading 2.3 X BV.
- in a later post the poster asked r-walk what he was smoking.
Of course one could ask why BRK would want to buy PRG at 2.3 X BV when it could buy BRK right around 1.3 X BV.
multiple posters are "cheering" for the stock price to drop to $158,000 so buying back shares can start occurring. If this does take place then that by itself will address the outperformance failure. ucmtsu....
response from expertsville (rationalwalk):
"the percentage of volume represented by the Gates Foundation is a non-issue."
GM supposedly will soon be announcing a dividend. Hopefully BRK unloading its position as per the expert board thinking such an announcement will cause the stock to tank. ucmtsu !!