A year ago today, after a five-hour Q&A session at Berkshire Hathaway’s 60th annual meeting, Warren Buffett decided it was time.
On the Friday before Berkshire’s 60th annual meeting, the stock closed at an all-time high, and three months later, it was down around 15%. In the nine months since then, they haven’t recovered any ground.
Shares of BRK.B handily outperformed the S&P 500 in the run-up to Buffett’s last meeting and then plummeted right after, and the stock now sits at multi-year lows on a relative strength basis.
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3 PM has always been a significant time of the day. Looking back on our childhoods, the hand on the clock in the classroom seemed to turn slower after 2:30 as it made the uphill climb
