Hey, I admit that I am infatuated with this company and the guy who runs it, Warren Buffett, I just think it has had a good run and I am a watcher at this point, not a buyer. Berkshire Hathaway Inc. (NYSE: BRK.B) was a strong candidate for inclusion on my 2008 buy list, but today is not the day.
I have written volumes about why BRK.B should be included in new portfolios and is a must on every watchlist, but I just do not see it as the bargain I did when I was promoting it at the $3,600 level. Although it does not pay a dividend, most of its stock holdings do, and Warren Buffett has been the gold standard for creating shareholder equity. If 2008 proves to be a shakey year on Wall Street, you may want to own this stock. That however, will be a reflection of the economy more than stock value.
This week it was announced Berkshire Hathaway executed a $4.5 billion buyout of Marmon. Berkshire has done a lot of buying this year. One example being its 8% stake in Burlington Northern Santa Fe (NYSE: BNI) railroad, reportedly now the largest shareholder. At the same time it has been selling other positions and completed its exit from PetroChina Co LTD ADR (NYSE: PTR) prior to a major pullback in Chinese stocks. Berkshire recognized huge gains from this sale, and it is reflected on the company's bottom line.
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