- Warren Buffett's Berkshire Hathaway Adds GM to Holdings
- Lunch With Warren Buffett: $2 Million-Plus?
- Warren Buffett: Lady Di Called Bill Clinton 'Sexiest Man Alive'
- CNBC Transcript: Warren Buffett on Squawk Box
- Warren Buffett: We're Buying Two US Stocks
- Warren Buffett to CNBC: Mark Zuckerberg Right to Keep Tight Control Over Facebook
- Warren Buffett: Apple and Google Too Risky For Me
- Warren Buffett Reassures Shareholders on Cancer and Succession
- Warren Buffett Recently Considered $22 Billion Acquisition
- Warren Buffett 'Very Comfortable' With Berkshire Stock Buybacks
RSS FEED
MOST SHARED
- JPMorgan Trading Loss: Did Regulators Miss the Risk?
- RIM May Cut at Least 2,000 Jobs in Restructuring: Report
- Marc Faber: 100% Chance of Global Recession
- How Nasdaq Lost Control of Facebook IPO, by the Minute
- Bacon Tourism: From the Davos of Bacon to Bacon Mecca
- Heard in More US States: See You in Tax Court!
- 5 Spots Where the Dollar Buys a Great Vacation
- What College Tuition Will Look Like in 18 Years
- Why Are Greek and Italian Politicians So Bad?
- A New Look at the ‘New Poor’
- Six Pack: Beer Buzz of the Week
- Greek Exit Could Trigger 50% Fall in Euro Stocks: Analyst
- Under Pressure, FHA Skews to Wealthier Home Buyers
- Big Stock Upside for Hudson City Deal: Analyst
- 5 High-Yield Stocks Ready to Boost Dividends
- Yoshikami: Four Things You Need to Know About Gold Now
- Steinbock: The Euro Zone Endgame Begins
- Option Bulls Take Another Shot on Idenix
- How Nasdaq Lost Control of Facebook IPO, by the Minute
- Week Ahead: Europe Has Wall Street Bull on Short Leash
- Pro-Bailout Greeks Regain Lead in Polls Before Vote
- Citigroup Lost $20 Million on Facebook IPO Trades
- JPMorgan to Shake Up Risk Team After Big Loss: Report
- RIM May Cut at Least 2,000 Jobs in Restructuring: Report
- EU Finalizes Bank Reforms; Shifts Burden to Bondholders
- Spain's Bankia Eyes Stake Sales After Record Bailout
- EU Set to Launch Action Against China Over Telecom Aid
Warren Buffett Watch
Text Size 
Berkshire Hathaway Bounces Back From 7% Plunge To Avoid Closing Below $100,000
 |
At their lowest today (Thursday) just about three hours before the closing bell, Berkshire shares hit $96,050, a drop of 7.05% on the day.
The stock then rallied along with the rest of the market, closing at $102,800. Berkshire hasn't closed below $100,000 since October 20, 2006.
While Berkshire avoided that distinction today, its loss of $533 (0.52%) does bring it to a fresh two-year closing low.
 |
The stock is down 31.1 percent from its all-time closing high of $149,200 last December.
Berkshire's downdraft, and a weak earnings report for the third quarter, are prompting some talk that Warren Buffett has lost his touch.
CNBC's David Faber reported yesterday that some investors are shorting Berkshire in the wake of Friday's quarterly results.
Investor Doug Kass had been short Berkshire for most of the year, before covering that position at a profit in August. Now he has a new summary of what he sees as Buffett's mistakes over the past few years in a post on TheStreet.com headlined Warren Buffett Has Lost His Groove.
And what about the argument that Buffett invests for the long term, making short-term setbacks unimportant? Kass writes, "Buffett's notion of long term is now becoming a convenient shroud to poorly timed investments."
"Is the notion of long term now irrelevant, particularly given Warren Buffett's age and the likelihood that sooner than later he will be succeeded by one or several new individuals at Berkshire's helm? Is it irrelevant ... in a possible multiyear bear market or in an economy that faces headwinds we haven't seen in decades? Or is it just one of those tautologies that it is safe to buy in the long term?"
Yes, Buffett has been counted out before. See 1999, for example.
But this time, Kass contends, it's different.
---
Current Berkshire stock prices:
Class A: [US;BRK.A
Loading...
()
]
Class B: [US;BRK.B
Loading...
()
]
Questions? Comments? Email me at
Data is a real-time snapshot *Data is delayed at least 15 minutes
