It seems that both Berkshire and Markel are entering a period now where they are (words hard to find that describe, but I’ll try) “understood” by the stock market price. These periods come, and these periods go, my guess simply based on the overall world environment.
We just had an investment club meeting. I spent 20 years noting Berkshire to my investment club, my brother-in-law chimed in as my sister and I of course had shares. Finally in 1999 the club, with a $1.3 million portfolio of all tech stocks, relented and bought a whopping $12,000 of Berkshire.
Off and on there has been talk of the business and stock, but it does depend on “what’s working” and whatnot. Just a few months ago when the stock price was floundering in the sub B share $300 price we had one club member with influence once again note Buffett’s age and the stock’s under-performance. We voted… and barely escaped holding the stock in the club.
Now? Last night members want to add to the postion. THIS my friends, is precisely how it works and will repeat cycle after cycle even with new leadership coming.
And, a member said, “Can you tell us about that Markel stock you own?” Lordy be…