... seeing BRK-B, a "value" / conservative mutual fund / insurance company spiking $8 / share (up 2.4%) was not on my bingo card today.
BRK-B won't close at a new new 52-week high today but it will come close.
Just think ... from an earlier post ... had Buffett not pulled the trigger on this purchase how much worse would BRK-B be doing today:
On Friday, March 4, 2022, Berkshire Hathaway disclosed a purchase of almost 30 million additional shares in Occidental Petroleum Corp., a Houston-based oil and gas company. The deal, worth roughly $1.6 billion at midday Monday, helped draw down his company’s near-record $146.7 billion pile of cash.
Risking $1.6 billion of his $146.7 billion cash hoard. Oh. My. Goodness.
Posted, 12:20 p.m. CT, March 9, 2022.
Holy mackerel, for inexplicable reasons, even SRE is up today. OKE is flat.
Later, March 12, 2022: it's being reported that Warren Buffett has bought another $1.5 billion worth of OXY. Link here. Another $1.5 billion off that $147 billion hoard of cash. OXY has a market cap of $55 billion; why doesn't BRK simply buy OXY? The fund would still have $100 billion in cash.
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A Musical Interlude
If there is such a thing as reincarnation, I want to come back as a lip-reading specialist. I would start with this video:
