Subject: Speculating
Berkshire's share price has lagged the average big US company's share price lately. It happens.

But Berkshire is pretty fairly valued, and ... the average big US company's shares aren't.

So, here's a "risk free" way to make a one-time 12% return.

Sell short 2323 shares of RSP, the ETF that tracks the S&P 500 Equal Weight index. Current price $203.67.
Use the proceeds to buy 1000 shares of BRK/B at $473.22.

i.e., the price ratio is 2.323.
Then just wait. Close the position when the ratio gets above 2.6:1, which is what has been more typical in the couple of years, ignoring the few months a year ago that Berkshire was bubbly.

Alas, I have no idea how long that will take, so it might be a good rate of return or a feeble one. But it's market neutral, and takes no meaningful position in the super-gigacaps which are so unpredictable these days.

Though this is a market neutral, i.e. hedged position, I don't really think of it as "hedging" per se...I think it's just "free money" sitting on the sidewalk : )

Obviously this is a "bad idea". Simply being long Berkshire makes more sense. But I do like to keep entertained.
If anyone tries this (ha!), do remember one thing: in any hedged position, one side is definitely going to lose money. Don't ever worry about that loss, you'll go crazy. Look only at the return on the sum of the two, which is the reason you entered the position.

Jim

Speaking of super-gigacaps, a fun observation: The sum of the profits of Samsung, Hynix and TMSC is expected to be higher than the sum of the profits of Apple, Alphabet and Amazon this year. Chips are making money, for the moment. A *lot* of money.