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Non-Tech : Berkshire Hathaway Class B
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To: George Leeper who wrote (425)1/7/1999 7:40:00 PM
From: 16yearcycle  Read Replies (2) of 1652
 
Wish I could help or knew. I enjoyed the pop, but am plenty frustrated by this. Berkshire is the best value it has been since it was below 20,000 and all the Buffett books came out some years ago.The real key here is that this is a long term investment, multi-year, and not a trade. Most of the day to day movement is arbitrary. Here is my guess on this week's poor showing:

1. Volume has been huge, for brk.b. I suspected institutional selling still from the grn merger, but there was a news story that Charlie unloaded $20 million worth. I am sure he is just selling some as he always has, but maybe the idea of it affected the price.

The Grn sales would be significant. I understood the index funds had to dump by 12/21 and could not hold through the conversion. Now I wonder. Volume seems too high. If they,index funds, are selling after getting brk shares for their grn shares, then this will go on for awhile. My w.a. guess would be a couple more weeks of it affecting the stock price.

2. The multi-national type slow but steady growers that Buffett likes are VERY out of favor. This is not helping. Who wants to own a 20% per year grower when YHOO goes up that much per day? Very sane people are caught up in this and it DOES affect stock market action.

Best wishes,

gene
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