…and what might happen to BRK in a “severe bear market”.
“Something like the crackup of a Granthamite 3-sigma bubble may or may not be unraveling at this very moment. On the other hand, it may be a sharp and scary but brief readjustment. Only in the fullness of time will we know. He’s spot on so far with the implosion of the silliest categories first. That started about a year ago - NFTs, SPACs, meme stocks favored by proudly ignorant “apes,” and new growth companies valued by price to sales ratios because they have no earnings or cash flow. But what happens in the end to serious companies with a long track record of good performance?”
https://seekingalpha.com/article/4482622-how-would-berkshire…