That's down 15.3 percent from the December 10 record closing high of $149,200. (On Wall Street, a 'correction'is generally defined as a decline of 10 percent or more from a high. A 'bear market' requires a 20 percent drop.)
For the (still early) trading year so far, Berkshire is down 10.7 percent, underperforming the S&P 500's 6.5 percent decline. Last year, Berkshire trounced the S&P's 3.5 percent advance with a gain of 28.7 percent, its best year since 1998. (That's one excellent reason famously long-term Berkshire investors are probably not getting all that upset with this latest short-term downturn.)
In its article on market trends, Wikipedia notes that a "corrections can be a good opportunity for value-strategy investors... One is able to purchase undervalued stocks with a highly probable upside potential."
As Berkshire approached $150K last month, the well-known value investor and Buffett disciple Whitney Tilsonput the company's intrinsic value at $167,000, in part because last year's calm hurricane season limited payouts by Berkshire's insurance companies. (The Wall Street Journal recently suggested weak pricing for reinsurers may be hurting BRK's share price.)
Tilson's $167K valuation came before Barron's "Sell Buffett" cover story that took Berkshire shares down almost five percent in one dayto $136,400 (December 17). Just afterward, Tilson told me by email the Barron's attack had made Berkshire even more of a bargain.