this time it is different. why ? because we have a vengeful idiot in the Waffle House,...
he can do this for at least another 4 years.... imho at least.

I think the bottom line is that this time really has some potential to be different. From the BRK point of view, I have always been confident that the next five years were very likely to show reliable price increase. Now, not only do we have a historical level political and economic disrupter, we have very high valuations and in five years, we can only hope that WEB, like Charlie, makes it to 99. I sold some BRK at the first trip to 534, and was so amazed when it bounced back to that level I sold more, in spite of a burgeoning tax liability. It was that fast rebound from the dip that got me baffled. Like Jim said, it had a certain "greater fool" vibe. This time might not be different, but I can picture something similar to some of the historically long or large downturns.

If this time isn't different in reality, similar to hummingbird, it is at least different in my behavior!

Berkshire Hathaway FAQ

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