Post #11886 by mungofitch on the Berkshire Hathaway board

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

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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

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