Berkshire Hathaway: No Urgency in the Urgent Zone
To us, Warren Buffett is the greatest value investor of our time. He wrote the annual letter to his Berkshire Hathaway (BRK.B) shareholders on February 22, 2020. This letter happens to coincide with some of his worst relative performance in the last year to five years. It comes in a brutal stretch for value and within recent demoralization of those of us who agree with his investing style. Why, in this letter, did Mr. Buffett shed no light on the current circumstances in the stock market? What is the difference between now and 1969-1972 when euphoric markets caused him to drop out for a while, close his partnerships and rebuild the value investing practice inside of a textile mill shell called Berkshire Hathaway?
February 24, 2020
