No. of Recommendations: 3
With all due respect, a buck (or a Euro, Franc or Yen) is a buck. There is nothing magical about the bucks I've made from BRK. BRK is a stable company with a great growth record and ha obvious tax advantages, but my general goal is to safely increase my after-tax wealth in a manner which diversifies across geography and currencies. WB was kind enough to remind me of these companies (I had planned on acquiring their stock a couple of decades ago, but was not impressed with the prospects for of the Japanese equity market at the time (though I did happen to pick up Softbank, which has worked out OK). Similarly, Charlie Munger confirmed my views of Ali Baba and I picked up some of that as well.
The challenges of scale as it applies to BRK has been discussed here numerous times and there is no reason to expect its price growth to maintain its previous pace - unless/until there is a general fall in the price of equities and its copious war chest of cash ban be profitably deployed. I believe that there are a number of catalysts for this which might challenge the market sometime over the next 3-4 years (maybe sooner) and have been pruning my portfolio and realigning what is left to take advantage of the event. I wouldn't be surprised if reacquiring BRK at a more advantageous price is in the cards.
In the meantime, the question I keep asking myself is whether the time is approaching when Google, Microsoft, Amazon and Nvidia become overpriced with the risk of holding them outweighing the short/medium term reward.
Of course, I could be wrong (I once figured that if I never sold a share of stock that I had bought in my life, I would be far better off today. That said, I've still been lucky enough to have done "OK" (and had lots of fun working the process).
Jeff
