I'm sure it will surprise no one that Berkshire Hathaway (NYSE: BRK.A) is up today, when most everything else was crumbling. Why would that be, since Berkshire owns insurance companies, and insurance companies are down? Berkshire also owns construction materials companies, financial services companies, and consumer product companies that are down, down and down.
The market is down not because there isn't some true value to be had, but because investors are worried and have lost a large degree of confidence -- they do not trust the information presented to them. How can they, when even the boards of directors of major institutions with inside information are taken by surprise and we find out the bankers are big pretenders?
The BRK.A shares gained $1,140 Wednesday, closing at $134,490. The BRK.B shares are up $29.25 to $4,502.75. On a percentage basis this is not a lot, under 1%. However, when you are looking for strength in a weak market (being kind) then you must take a look toward "my pal Warren," for Mama said there would be days like this and so has Mr. Buffett. Berkshire profits were up 65% this past quarter, but aside from that, today was about integrity, and there is not much to go around lately.
Disclosure: I own shares of BRK.B.
Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm.
Is there a Bernie Madoff in your portfolio?
New McDonald's to include recharging stations for electric cars
Cramer on BloggingStocks: Dirty manipulation 
Reader Comments (Page 1 of 1)
11-07-2007 @ 9:27PM
Mr. noitall said...
You should listen to "your pal Warren". He's been selling Petro China. Take some of your profits, it might be early, but it's pretty obvious that the China markets are a bubble that will pop eventually.