No. of Recommendations: 8
I still get out of bed for $164 billion. Well, it depends who is in it.
As a very long time Berkshire holder, I find many of us track our holdings. That $164b or so is about equal to Berkshire's holdings of Apple, Amex and BAC and 1/3 of Coke.
Material IMO.
Of course $164b is a lot of money, but the question is, is it a material consideration in the valuation of a company worth over $4 trillion. The same amount of value in investments in Berkshire is relatively more important for that company that is only worth $1 trillion.
The market cap of Google has gone from 20x earnings to about 30x earnings. The fact that there are also some valuable investments (SpaceX, Anthropic, Waymo) that are worth about 4% of the company's market cap but are not being counted in the earnings just means that the non-SAW bits of Google have really just gone to 29x earnings. That does not do much to change the conclusion that the share price may be getting ahead of itself.
dtb
