......and why Berkshire is up even much more (S&P 1.2% / Brk-B: 2%)?

In the context of Mr. Market, Buffet's pile of money shows (presumably) that he recognized the market's over-valued condition and buying shares in his company is an effort to take advantage of his deploying that money when things go to hell in a handbasket. The challenge with this thinking is that, if the market REALLY tanks - enough for that deployment to move BRK's needle a lot, BRK's stock price would first likely drop significantly.

Frankly, I am waffleing between selling my BRK positions or holding for the next cycle. The long-term capital gains tax on the positions would be about 35% (federal + state + city), which means that to break-even after buying it back may be more tramatic than simply biting the bullet. With all due respect to Jim, when it comes to taxes, size does matter :-)

Jeff

Berkshire Hathaway FAQ

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