No. of Recommendations: 9
BRKB at $345/share. 2 cheapest guys on the planet paid as high as $367.21. Analysis over?
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My analysis certainly doesn't call today's price a screaming buy.
And I am not a big fan of trying to do ontological exegisis on the actions of management...it's easy to read too much into things.
I agree that it's a strong argument, but I also agree with Jim that other things may come into play. How about this: you're 92 and 99 years old and you're sitting on north of $150B in cash, selling $35B in equity positions ($353.4B at the end of Q2, $318.6 at the end of Q3), and NOT investing in long-term bonds (Q2 $23.3B, Q4 $23.4B), and you see your retailing and manufacturing numbers starting to come down, the railroads less busy, interest rates starting to bite, maybe a recession coming along soon, and this might be your final chance to do something big... OK, a minute spent on macro is a minute too much, right, but ...
Peter Lynch in a PBS interview: "I've always said if you spend 13 minutes a year on economics, you've wasted 10 minutes." But maybe the first 3 minutes is OK?
DTB
