Q1-23 Average Price: $167/share
Q2-23 Average Price: $160/share
Q3-23 Average Price: $162/share
Q4-23 Average Price: $151/share

The stock went over $170 multiple times in Q1 and Q2.

The stock dropped suddenly from $170 to $145 at the end of October when Chevron announced it was buying Hess.

Maybe Buffett thinks the market is wrong about Chevron not knowing how much to pay for Hess.

"Some people can read War and Peace and come away thinking it's a simple adventure story. Others can read the ingredients on a chewing gum wrapper and unlock the secrets of the universe" - Lex Luthor

Buffett has been famously able to glean more actionable information from publicly available data than the average investor. He hasn't always been right, but fortunately Chevron is not an Airline.

At least so far, this kind of competence has not been outlawed. But given the Delaware Chancery Court taking away Musk's $3 billion pay package 6 years after it was approved by ~80% of stockholders because he only had to increase TSLA Market Cap by $550 billion to earn it, I would expect outsized competence to become a capital crime sometime soon, at least when practiced by billionaires. Will HCLasVegas be joining the Delaware Chancery in leading that charge? Will BreckHutHigh?

Yes, I am inferring WAY TOO much badness from these two posters from extremely limited data. My bad.

R:)

Berkshire Hathaway FAQ

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