Spoken like a true value investor, Wayne.
Unfortunately, in the BRK case, it was an issue of good vs. bad information, but information nevertheless. For example, Michael D. Burke still sees MSFT as the central high tech company, which is an example of bad information, but information nevertheless. Warren Buffet's health rumors being denied are, hopefully, good information. So, that sort of validates what I was talking about. It is only the rate of change in equity price in response to information, good and bad, that has changed.
As for the valuation, however, you haven't put forward any objective measurement techniques. |
