Berkshire Shares Sink After Buffett's Annual Letter

We really enjoyed reading Warren Buffett’s letter to shareholders this weekend. He had some great observations and insights about the economy and the attempts to turn it around. But as a document to reassure shareholders: not so much. Not that Buffett uses his letter to talk up Berkshire, but it’s not having any kind of calming effect. The stock is off about 5.6% to $73,700 today and at one point it hit $70,000. It’s too early to compare Berkshire with GE, except that both are tanking and both are big conglomerates that combine financials and industrials. And though both profess to be healthy, shareholders are obviously concerned about lurking bombs somewhere on the balance sheet.

Disclosure: The author is long a single b share.

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