Filled at $269.50, or 1.17 BV. I have a sinking feeling that we could see the price drop below BV before the end of the summer.
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We will see how much remains of this macho optimism on Berkshire’s stock price after some time… It almost always goes away before the reset is complete.
Otherwise the last stage wouldn’t be called “Capitulation”.
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Some of us have realized our trucks are fully-loaded Nissan compacts, when we really need a Chevy 1-ton dually with an empty horse trailer.
Tell me about it.
I’m a little frustrated because most of my “ready to deploy” cash is at a bank that has already gone home for the day. Silly Europeans.
I have another account for on line trading, but it’s low on cash by comparison…I briefly considered a broker margin loan today.
(lasting only till the wire transfer between accounts went through)
Jim
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<Still waiting. If I miss this entry point and catch it going up, I will still be better off than buying it at $310, and if I miss it altogether, there are other options.>
To me, it’s easier said than done. To guard against a regret of missing the boat completely, I nibbled a little bit a few days ago at $278.5. Now I’m trying my luck by waiting.
I’m a little frustrated because most of my “ready to deploy” cash is at a bank that has already gone home for the day.
You really think one or two days more or less do matter that much? Sounds like trying to find the perfect bottom before a short term bounce (or before the major bottom).
Maybe you are willing to tell us more about your thinking?
We will see how much remains of this macho optimism on Berkshire’s stock price after some time.
Chompin, man of/with experience. Sounds like you are one who voted in my poll “FAR from over”. What do you expect?
Trading off small buys of GOOG and BRK.B.
I’ve been in BRK for a very long time and it’s just too darn appealing at these price levels, but I’m still very slowly dipping in here.
As an aside, the exercise on “spare cash” has been very useful in my own thinking. I believe 2 years is a really solid number for those of us approaching or perhaps in retirement ages. The thought exercise on the long-term negative impact of more than 2 years over a 20+ year period of investing was compelling.
Better with Berkshire and risk some terrible sale down the road than risk significant relative cash underperformance.
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Some of us have realized our trucks are fully-loaded Nissan compacts, when we really need a Chevy 1-ton dually with an empty horse trailer.
Tell me about it.
Jim (and anyone else)
What percentage of your holdings is in BRK?
Presently my two largest holdings are BRK & GOOG. They are each about 18%for me.
I have some cash and am toying with increasing both up to 20%.
Beans
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Back up the truck moment?
Is that your call?
Just be careful with what we wish for…
Too afraid now!
Little fear is good.
You really think one or two days more or less do matter that much?
Maybe you are willing to tell us more about your thinking?
No deep reasoning.
Looked really good today, wanted to buy, couldn’t. Grrr. About the same reasoning a dog might manage.
Maybe today is the best day to buy, probably it isn’t.
It seems likely to me that there won’t be many better opportunities.
As for the tea leaves reading for the broad market:
It would take two or three more days about this bad to trigger my “bottom detector”.
Jim
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Too afraid to buy now.
System acts like it is broken. Financial and monetary system.
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What percentage of your holdings is in BRK?
Over half the portfolio.
Presently my two largest holdings are BRK & GOOG.
Me too, though it’s close to a tie for #2.
Depending on prices, GOOGL might be my #3 at the moment.
Jim
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mmm…my last long buys of BRK were about two years ago…biggest chunks were just under $170 per share. I remember the fear then…I just swallowed hard, and then opened a bottle after I hit submit. At that time, I was also thinking that this thing had much further to fall.
Like Jim, and Phoolish Phil, this feels a bit different this time, and may go down a lot more before this is all over. Nibbled for the first time today, since early 2020, and filled at $269. Wow! That was a fast execution. Keeping a lot of dry powder for now. I’ve waited awhile for these opportunities, so here’s my chance. What happens between now and next year falls squarely within the realm of behavioral finance. Cajones — Carpe Diem!
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This is no longer about valuation. This is systemic liquidation
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As for the tea leaves reading for the broad market:
It would take two or three more days about this bad to trigger my “bottom detector”.
We’re not too far away from Jeremy’s 2500 on the broad market. That broken clock may be right this time!
Anyone knowing when BRK Jun/Jul or whatever later than Jan 2024 options will be available?
(Before someone recommends “Just Google a little instead of bothering us here”: Yes, I tried and read somewhere about how the system works - but didn’t understand it, so I still have no clue when those options will appear.)
What percentage of your holdings is in BRK?
BRK : 25%
GOOG: 5%
Note: for the first time ever, I now have more BRK than US Index funds (SPY, RSP, QQQE combined). Note: Cash is now under 5% - also the first time in a while.
tecmo
…
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Too afraid to buy now.
Funny. -Buy when you’re fearful.
Price here is pretty good, but can always go lower in the short term. -Maybe hang some limit orders out there and hope they are executed. If this becomes systemic and there’s a lot of forced selling the price will also go much lower for a time.
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For what it’s worth, I too added a little bit around $269 per B. The odds seem pretty good that results on a 12-24 month view should be pretty satisfactory.
Despite the gut wrenching feel to the market action yesterday, it is worth bearing in mind that Berkshire is only down about 10.7% YTD ( vs down around 23% for the S&P total return). In my case measured in GBP the strengthening USD has meant that Berkshire is essentially flat for the year even including the recent fall.
Like some others I have also been steadily adding to Alphabet in the last few weeks.
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Thanks, ppant, for sharing. Aren’t you normally always fully invested? Did you sell something else to buy BRK and alphabet?