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Just important to remember for all those that think this is something unusual that Berkshire shares are doing - BRK is just roughly tracking the XLF financial ETF (which along with the S&P 500 products is a big source of fund flows). Progressive is absolutely crushing BRK and Chubb is right there with the same moves.
It may just be that insurance companies are breaking out
It may be absolutely correct that this is the reason for what we are seeing.
Nevertheless I feel reminded on stockmarket comments in the news. Whatever the S&P is doing and however small it's move might be, it's always "S&P slightly down on negative news about [xyz]". There always MUST be a specific explanation. It's just too unsatisfactory to say/read "S&P slightly down and nobody knows why".
Ok, bad comparison, as of course there MUST be a specific explanation for this big BRK move. Right? 😉
