Well, a pleasant start to the markets this week. ‘course we’re supposed to be thinking longer term but still a gain always feels good. Stantec up 3.3%, Shaw Communications up 2.5%, almost everything was up, but Constellation software was down 3.1%.
And a good day for Buffett, Berkshire A shares were up 1.6% to $152,498, a new record high. The B shares were up 1.25% to $101.02. These are basically the same shares except one A share is convertible into 1500 B shares (but not vice versa).
I have not seen much mention of the fact that Berkshire closed at a new record today, nor that it is up over one million percent since Buffett took over the company. His average cost of acquisition was $14.86. His first buys were at $7.60 per share in 1962. These are the same shares that are now worth $152,498. I don’t know what the shares traded at on May 10, 1965 when Buffett took control, perhaps it was a bit over $15. But most assuredly the shares were under $15 in early 1965. Buffett tracks his performance back to the start of fiscal 1965 which was October 1, 1964. I believe he was already influencing, if not controlling the company by then.
It seems to me that this kind of gain (one million percent or more) is worthy of a bit of recognition.