Buffett Message Is ‘Do as I Say, Not as I Do’: Alice Schroeder
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March 20 (Bloomberg) -- The last few years have been astruggle for investors in Berkshire Hathaway Inc. Since theMarch 2009 market low, the Standard & Poor’s 500 Index has risen80 percent compared with 44 percent for Berkshire, even thoughcrashing stock prices and unprecedented volatility perfectlysuited Warren Buffett’s investing style.
Now Berkshire stock hovers at about a 10 percent premium tothe company’s estimated $110,000 per-share book value at March31, 2012, (assuming the overall book value increases in a risingstock market by about $10 billion this quarter) and perhapsbelow a liquidation price. In essence, the market is placing novalue on Berkshire’s prospects.