Please correct me if I’m wrong, but Berkshire bought SNOW on the IPO at $120, am I right?
yes that is correct
Yes. I remember thinking how out of character it was of them to do it. It was clearly a Ted or Todd purchase. I think Munger and Buffet believe in theory you can find some value in an IPO every now and then, but most of what they say about IPOs is negative.
2 Likes
Esp. since someone else determines the price or, uh, value, of the stock, at that time.
Berkshire bought 2.08 million shares at the IPO price of $120/share and another 4.04 million shares at the opening price of $245/share.
12 Likes