Post #18512 by mungofitch on the Berkshire Hathaway board

When reading posts, there are yellow stars against the names of the most respected Shrewds. The number of points in the star, starting at 3, represents the Shrewd'm-Star rating. This number is the average recommendation that the author received over the last 12 months.

- Manlobbi

Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)

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No. of Recommendations: 5

40% difference in return!

Valuation got atypically high for a while there. That's why I wrote enough calls to be notionally net short. A calculated gamble, but it worked nicely.

When things are richly valued they can and do often keep going up. But starting from that situation, down (or at best flat) is rather more likely than up over any reasonable time frame.

Jim

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