Since Buffett retirement announcement the stock is steadily declining. Certainly WEB is a value add the stock was outperforming before that and trading bit richly to its BV (a preferred valuation method for many Berkshire investors). Don’t know how long it will last, I have sold couple of Aug $450 Puts, just to keep track. Even though I own Berkshire and have a covered call at Jan 26 $400, I rarely look at the stock. The put covers the quarter report, since they don’t do quarter earnings call. We will know whether Berkshire started buyback back their shares.
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PBV is 1.57. It is still expensive. For PBV around 1.3. it needs to come down to ~$400 or increase its BV. My guess is it will stabilize around $425 and would be a good point to accumulate. Mag 7 are very hungry for energy.
Last week, I closed Aug and opened Sep 
The results are decent, nothing really bad, or earth shattering. Many sites talked about operating income decline but failed to mention it is due to forex adjustment, excluding that operating income actually went up. No buyback, about $3 B net equity sale, $3B $KHC position write-down.. There is very little support below $450 until it reaches $400. I might roll my Sep $450 Put to $400 Put…
