No. of Recommendations: 23
I wonder, will Buffett expedite 1-2 years of gifting and instruct the foundations to sell heavy in q-1 volume permitting?
Obviously not. He said precisely the opposite.
If Buffett believes the stock is fully priced, why not sell into strength?
He as been. I imagine it's the biggest amount of stock ever sold from any portfolio.
Are todays buyers, overpaying?
That, on the other hand, is a reasonable question to ask.
I'd say "no". There's a difference between "more expensive than usual" (true) and "overpriced" (no). I don't think today's price is so high that you can't expect decent medium to long run returns from here. I usually define a fair price as "consistent with what has been the historical return from the average stock in the average year", around inflation + 6.5%. Buyers today should get that, though perhaps including a flattish spot in the shorter term.
Jim