... but in the long run, it is a weighing machine."
S&P 500, NASDAQ close at records.
I wonder when folks will get the clue bug that we are in the fourth (sixth) industrial revolution.
Locator: 50588AAPL.
I don't know if folks are following this, but it's absolutely fascinating.
The market surges today, hitting new records:
- AAPL gains;
- BRK-B falls.
I can't add anything to the Apple "news" that hasn't already been addressed by someone somewhere.
But, to me, it certainly appears that retail investors and now managed funds are dumping BRK. A vote of no confidence?
Three things to note:
- Greg Abel appears to be going it alone -- the sole investment manager for BRK now?
- sells more of Apple; and,
- buys NYT.
In the old days if BRK sold AAPL, AAPL would fall, but today the news is out that BRK sold AAPL and AAPL surges.
BRKB is selling AAPL -- perhaps the best managed company in the world, and now, not only does the Apple CEO transition look like it's going very, very well, the changes in top leadership and reorganization appear to be making Apple even stronger:
- the executive chairman is sticking around, moving to an independent advisory position;
- Tim Cook is moving to the executive chairman position; and,
- Apple gets a hardware engineer who has been with Apple for 25 years, and is only 50 years old, to be the next CEO. Could John Ternes be a lot more like Steve Jobs, with Levinson and Cook his guardrails?
Meanwhile, to paraphrase Orson Welles in The Third Man, what is BRK doing? Selling AAPL and buying NYT. I can't make this up. In addition, BRK keeps adding to Japanese multi-industry conglomerates just as Japan is facing an energy crisis of fairly huge proportions.
Market today:
BRKB today:
AAPL today:
