No. of Recommendations: 2
For those who are selling out, it's a pretty big move. I admire the conviction. I presume it's a thing one wouldn't do merely because valuations are a little higher then average, but rather because of either a perception of a true material hit to intrinsic value, or an expectation of a material deterioration in the future prospects.
Reading between the lines here, do I hear Jim channeling Munger? I think as I tried to explain, it’s not so much perceptions about relatively higher value or hits to IV, but rather looking for a good exit point to lower my concentration from 82% net worth down to 60%. That’s still a significant holding in one stock. It’s more asset allocation consideration for me, and not so much valuation perceptions. I think I remember you saying something awhile back that you lowered your holdings down to 65%, and more recently, 45%? I will kinda be in that ballpark too, if I pull the trigger. What I do with the proceeds after laying in cash for awhile will be the next challenging consideration. Swoop back into Berkshire or wait for opportunities in QQQE, RSP? etc…I’m leaning towards the latter, if for no other reason that I don’t believe I want to be fully invested up to 90% in BRK as I gracefully age…won the game, or keep playing, and all that stuff?
