BRK – a sign of the times

https://www.marketwatch.com/story/warren-buffetts-berkshire-stock-set-for-biggest-gain-in-7-years-analyst-cheers-buyback-policy-change-2018-07-18

Berkshire just changed their corporate policy wrt stock buybacks … they WILL now be able to buy their own stock.  This is an important sign of the times … good values are REALLY hard to find.  Here’s a JPM analyst take:  “J.P. Morgan analyst Sarah DeWitt said the new repurchase policy is “a major positive catalyst” for the stock, since it gives Buffett and Munger more flexibility to spend excess cash of about $86 billion, which has been a large drag on returns, “particularly given Berkshire has not been able to find attractively valued acquisitions in an expensive market.”

Caution to those of you looking for long-term good value purchases at this point …

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