Thinking of the Charlie Munger today, with Berkshire up $30,000 per A share in a single day and it’s only a 4% move on the day.

Thinking about people here that paid less than $60,000 per share 25 years ago and earlier (50% move on cost in a day!). Or the people that bought it at $78,000 as recently as 2008 (38% move on cost in a day).

As Munger said, “hold the damn stock.”

A lot here correctly identified Berkshire and Buffett as a long term compounder (masters of capital allocation and fiduciary responsibility). A few have probably never sold a single share. If that’s you, excellent work.

And the really fantastic thing about having Buffett keep the share price within a rational range, is that despite incredible increases in business performance and market capitalisation, it’s still a fantastic hold on an absolute basis and probably a better buy than the index.

Berkshire Hathaway FAQ

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