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.
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.