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After a lackluster year the market did NOT like this move at all.

by Traubenfuchs 11mo ago

gbacon 11mo ago
Had to be expected. Buffett was a once in several generations talent.
- unsupp0rted 11mo ago
  Is there a write-up somewhere of how much of an outlier he really was?
  - NaOH 11mo ago
    I would recommend the 2021 three-part Acquired podcast series on Berkshire. Episodes are long, though there are transcripts if you prefer reading over listening. https://www.acquired.fm/episodes/berkshire-hathaway-part-i https://www.acquired.fm/episodes/berkshire-hathaway-part-i https://www.acquired.fm/episodes/berkshire-hathaway-part-ii https://www.acquired.fm/episodes/berkshire-hathaway-part-ii https://www.acquired.fm/episodes/berkshire-hathaway-part-iii https://www.acquired.fm/episodes/berkshire-hathaway-part-iii That said, I'll note this quote from Buffett: >“I'm somewhat embarrassed to say that Tim Cook has made Berkshire a lot more money than I've ever made,” Buffett told the audience, referencing the remarkable 680% surge in Apple's stock since Berkshire first began acquiring shares in early 2016. https://finance.yahoo.com/news/warren-buffett-says-embarrassed-tim-030137920.html https://finance.yahoo.com/news/warren-buffett-says-embarrass...
beambot 11mo ago
This is classic Buffett year, being fearful when others are greedy & building a massive war chest for when a correction inevitably occurs. When it comes to Buffett (and Berkshire), it's really only reasonable to look at 5-year returns. 1-year or YTD are too susceptible to market sentiment rather than true value. Eg the Buffett indicator (stock market value / GDP) is 2x std dev above the norm right now -- way overpriced by historical standards.
- lotsofpulp 11mo ago
  BRK-B doesn't seem much different than SP500 on 10, 15, and 20 year returns. BRK-B's 5 year return is 2% per year more than SP500. https://dqydj.com/sp-500-return-calculator/ https://dqydj.com/sp-500-return-calculator/ https://dqydj.com/stock-return-calculator/?ticker=BRK-B https://dqydj.com/stock-return-calculator/?ticker=BRK-B If my goal is to not sell for a decade or more, I'm not sure what BRK offers over SP500, except more risk.
  - StopDisinfo910 11mo ago
    > BRK-B's 5 year return is 2% per year more than SP500. > If my goal is to not sell for a decade or more, I'm not sure what BRK offers over SP500, except more risk. I think you have already answered your own question. Historically, BRK-B has very often outperformed the SP500. Plus, their investment philosophy is pretty clear. It's a solid alternative if you distrust tech which is today very heavy in the SP500.
    - lotsofpulp 11mo ago
      >Historically, BRK-B has very often outperformed the SP500. Huh? The point I was trying to make that the returns seem to equalize the further back we go. > It's a solid alternative if you distrust tech which is today very heavy in the SP500. The only reason BRK kept up with SP500 over the last 10 years is because of its outsized investment in Apple in 2016 or so, after the disastrous results of sitting out of tech in the 2000s and early 2010s and pursuing other investments such as Kraft Heinz or whatever. As of September 2025, Apple is still 21% of BRK's publicly listed holdings: https://www.cnbc.com/berkshire-hathaway-portfolio/ https://www.cnbc.com/berkshire-hathaway-portfolio/
      - yibg 11mo ago
        SPY has a cumulative return of ~370% from start of 2000. BRK.B is at ~1,200%. That's a pretty big difference. You can discount Apple as being part of the portfolio, but that's a bit like saying, well they wouldn't have done so well if we remove the high performing stocks in the portfolio.
kristofferc 11mo ago
Down 2% in the last 5 days?

After a lackluster year the market did NOT like this move at all.

gbacon 11mo ago

Had to be expected. Buffett was a once in several generations talent.

unsupp0rted 11mo ago
Is there a write-up somewhere of how much of an outlier he really was?
- NaOH 11mo ago
  I would recommend the 2021 three-part Acquired podcast series on Berkshire. Episodes are long, though there are transcripts if you prefer reading over listening. https://www.acquired.fm/episodes/berkshire-hathaway-part-i https://www.acquired.fm/episodes/berkshire-hathaway-part-i https://www.acquired.fm/episodes/berkshire-hathaway-part-ii https://www.acquired.fm/episodes/berkshire-hathaway-part-ii https://www.acquired.fm/episodes/berkshire-hathaway-part-iii https://www.acquired.fm/episodes/berkshire-hathaway-part-iii That said, I'll note this quote from Buffett: >“I'm somewhat embarrassed to say that Tim Cook has made Berkshire a lot more money than I've ever made,” Buffett told the audience, referencing the remarkable 680% surge in Apple's stock since Berkshire first began acquiring shares in early 2016. https://finance.yahoo.com/news/warren-buffett-says-embarrassed-tim-030137920.html https://finance.yahoo.com/news/warren-buffett-says-embarrass...

beambot 11mo ago

This is classic Buffett year, being fearful when others are greedy & building a massive war chest for when a correction inevitably occurs. When it comes to Buffett (and Berkshire), it's really only reasonable to look at 5-year returns. 1-year or YTD are too susceptible to market sentiment rather than true value. Eg the Buffett indicator (stock market value / GDP) is 2x std dev above the norm right now -- way overpriced by historical standards.

lotsofpulp 11mo ago
BRK-B doesn't seem much different than SP500 on 10, 15, and 20 year returns. BRK-B's 5 year return is 2% per year more than SP500. https://dqydj.com/sp-500-return-calculator/ https://dqydj.com/sp-500-return-calculator/ https://dqydj.com/stock-return-calculator/?ticker=BRK-B https://dqydj.com/stock-return-calculator/?ticker=BRK-B If my goal is to not sell for a decade or more, I'm not sure what BRK offers over SP500, except more risk.
- StopDisinfo910 11mo ago
  > BRK-B's 5 year return is 2% per year more than SP500. > If my goal is to not sell for a decade or more, I'm not sure what BRK offers over SP500, except more risk. I think you have already answered your own question. Historically, BRK-B has very often outperformed the SP500. Plus, their investment philosophy is pretty clear. It's a solid alternative if you distrust tech which is today very heavy in the SP500.
  - lotsofpulp 11mo ago
    >Historically, BRK-B has very often outperformed the SP500. Huh? The point I was trying to make that the returns seem to equalize the further back we go. > It's a solid alternative if you distrust tech which is today very heavy in the SP500. The only reason BRK kept up with SP500 over the last 10 years is because of its outsized investment in Apple in 2016 or so, after the disastrous results of sitting out of tech in the 2000s and early 2010s and pursuing other investments such as Kraft Heinz or whatever. As of September 2025, Apple is still 21% of BRK's publicly listed holdings: https://www.cnbc.com/berkshire-hathaway-portfolio/ https://www.cnbc.com/berkshire-hathaway-portfolio/
    - yibg 11mo ago
      SPY has a cumulative return of ~370% from start of 2000. BRK.B is at ~1,200%. That's a pretty big difference. You can discount Apple as being part of the portfolio, but that's a bit like saying, well they wouldn't have done so well if we remove the high performing stocks in the portfolio.

kristofferc 11mo ago

Down 2% in the last 5 days?