Short seller Doug Kass renewed his attack on Berkshire Hathaway, placing another bet against the stock by going short again yesterday and writing critically today about "some bombs in Buffett's book."
(For more on why Kass is negative on Berkshire, including a video clip, see the recent WBW post Short Seller Tells CNBC Why Warren Buffett Has Met His "Watergate.")
In a blog post on TheStreet.com today, Kass points to the "poor short-term and long-term charts of Berkshire's four largest equity investments."
- Wells Fargo
- American Express
Kass argues that the four Buffett biggies "continue to suffer" even as Berkshire shares advanced over the past two weeks. (Berkshire closed at a 12-week high last Friday, following an 11 percent rally over ten sessions.)
And Kass is not just talking about the short-term. He writes, "Holding these four stocks 'forever' has not been value-additive to Berkshire over the last decade" although it has been a "particular drain" more recently.
His admittedly exaggerated characterization: "Warren Buffett, who has achieved a remarkable investment record over 50 years, has begun to morph from the 'Shakespeare of investing' into the 'Mozart of marketing.'"
Current Berkshire price:
See Warren Buffett Watch on CNBC's The Call, most weekday mornings at 11:50a ET
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