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Warren Buffett Watch
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Shares of Warren Buffett's holding company ended at $90,000 each, up $12,500 or 16.1 percent.
It's the biggest one-day percentage gain for Berkshire since at least 1985, topping the stock's 14.8 percent rally on September 19.
The stock surged in the last few minutes of trading, in what may have been a flurry of short-sellers covering their positions.
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Just two days ago, we were telling you about a 12 percent daily drop, Berkshire's worst day since 1987's Black Monday.
The stock is still down just over 20 percent since November 7, when its losing streak was sparked by a disappointing (to some) third quarter earnings report.
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Today's gain widens Berkshire's year-to-date outperformance of the S&P, although it's still nothing to write home about. Berkshire is down 36.4% vs. the benchmark index's 45.4 percent drop.
Berkshire's drop from its December, 2007 all-time closing high, which was close to 50 percent yesterday, has been cut to "only" 39.7 percent.
In an interview with Fox Business Network today, Buffett said he wasn't worried about Berkshire's decline, pointing out that it's had three similar drops in the past. "I hope I live long enough so it happens a couple more times to me."
Current Berkshire stock prices:
Class A: [US;BRK.A
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Class B: [US;BRK.B
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- Berkshire Hathaway Subsidiary Keeps Coachmen Alive By Acquiring RV Business (November 21)
- USG Shares Soar On Warren Buffett's "Expression of Confidence" (November 21)
- Warren Buffett on Market Meltdown: It's Happened Before And It's Been Even Worse (November 21)
- Berkshire Hathaway Down Almost 50% From All-Time High As Stock Sinks Again (November 21)
- Berkshire Hathaway Plunges 12% For Worst Day Since 1987's Black Monday (November 19)
- A Goldman Opportunity: How Average Investors Can "Out-Buffett" Warren Buffett (November 19)
- Buffett's Berkshire Gets A Billion In Beer Bucks (November 18)
- Berkshire Hathaway Shares Close Below $100,000 For First Time In Two Years (November 17)
- Warren Buffett Would Provide Backstop For "Misunderstood" American Express - Barron's (November 16)
- Warren Buffett's Berkshire Hathaway Sharply Boosts ConocoPhillips Stake (November 14)
Data is a real-time snapshot *Data is delayed at least 15 minutes