SPY opened 279 closed 283+ Was even more pronounced if you count the pre market weakness. Nice try though Jerkoff
I think that's because he is a value investor. There was no value in these companies past a certain price. The stock prices going up was the result of share buybacks. I think in his time, the market made more sense and was based on fundamentals. Now, those fundamentals have changed. Its more so about the FED than it is about the structure of the company. I can understand how its difficult to pivot to this new way of thinking.
%% His warning- he had done so well, so long, don't exsect that in the future=trees never grow to the moon nor do funds...……………………………………………………………………………………………………………………….Amazing how few beat SPY/S+P 500, over 10 years
I hear what you're saying and you have a point - but go tell that to the pension fund or endowment manager. Growth clearly beat Value the past decade.
okay, we'll use your favorable calculation. 1.4% is still considered rallying hard? that's not even the implied vol of the SPX. Nice try though Jerkoff.
He maybe too old, too yesterday, too slow, too conservative, too... but is still a better investor/trader and a little richer than I. And a little richer than some of you?
The book value of Berkshire increased by about 11% CAGR over 9 years ending 12/31/19. The SPX returned 13% including dividends. Except that Berkshire didn't benefit from P/E expansion as much (as only their public holders get marked to market) nor from those new fangled growth stocks that ruled the market that Warren was too senile to invest in. He also generated enough cash in that period that he can buy most of Netflix (the "N" in FANG). But he has no street cred because he bought some airline stocks after there was massive consolidation and pricing power dynamics had changed.