Dec 252017

In a Roger Lowenstein interview of Warren Buffett from the Washington Post:

“There are basically two kinds of assets,” elaborated Warren Buffett, who was in his office and not buying bitcoin the day I called. “One you look to the stream of income it will produce; the other you hope like hell that someone will pay you more for it.” The second type is inherently speculative; it includes gold, although gold at least has value as jewelry. It most definitely includes bitcoin.

What do you think they will do when it goes down? “I will say this,” Buffett added, “it will come to a bad ending.”


 Posted by at 11:31 am

Berkshire Hathaway class A Trades for $300,000 per Share

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Dec 182017

Berkshire Hathaway class A shares traded for $300,000 for the first time this morning. Berkshire class B shares traded at $200 for the first time (Berkshire A trades at 1500 times Berkshire B.)  $1,000 invested in Berkshire 52 years ago would be worth about $20 million today. The same amount invested in the S&P 500 would be worth about $130,000.
(Values were calculated using the compounded annual  gain of 20.8 percent from 1965-2017 for per-share market value of Berkshire, and the compounded annual gain of 9.7 percent from 1965-2017 in the S&P 500, with dividends included.)

 Posted by at 12:01 pm