As always a little ahead of street.<<PaineWebber on Tuesday said analyst Alice Schroeder raised her rating on Warren Buffett's holding company Berkshire Hathaway Inc. (NYSE:BRKa - news) (NYSE:BRKb - news) to buy from attractive, saying the stock has been beaten down unfairly.>>
<<Message #30720 from IQBAL LATIF at Feb 14 2000 12:58PM
At todays half way above the low I was able to get into brka and brkb shares I decided that I should work on that inverse realtionship theory and no one else is better than Buffet to enter at these levels..managing part of your money by Buffet can be interesting at these levels for medium to long term ... the bounce of brka depicts that we are bottoming within 5% of this price.. now as no one is able to catch tyhe bottom lets try and take some at this level and if DOW breaks 10500 on two consecutive basis we can add half at 10000 9800 level.. it is a great buy for long term..>>
PaineWebber on Tuesday said analyst Alice Schroeder raised her rating on Warren Buffett's holding company Berkshire Hathaway Inc. (NYSE:BRKa - news) (NYSE:BRKb - news) to buy from attractive, saying the stock has been beaten down unfairly.
-- ``We attribute weakness in the stock to false rumors about Warren Buffett's health, unfounded concern over tobacco liability, and general aversion to non-technology names,' Schroeder said in a research note.
-- Schroeder, an insurance analyst, is considered one of the top analysts covering the holding company.
-- ``This is a great buying opportunity: Berkshire is now trading at its lowest valuation relative to book value since 1983,' she said.
-- Class A shares were not yet open for trading on the New York Stock Exchange but were indicated to open higher, at between $45,000 and $46,000 a share, up from an NYSE Monday closing price of $43,100.
-- Shares of the company tumbled in 1999 from a level of about $77,000 in May. The stock had a brief resurgence in late October but has seen sharp losses in the past several sessions.
-- Schroeder said her upgrade comes despite the fact that the company is facing several negative factors: a market that is focused on momentum, valuation levels that are ``often considered irrelevant'; continued selling pressure as money moves away from companies seen as being value names; and the fact that the company is forecast to post weak operating earning in the upcoming quarter.
-- Nevertheless, she said, ``we believe the stock is so compellingly priced that it simply overwhelms these factors.' |
