Subject: Re: Articles on the quarterly results
The economy has been slowing, which is just a cyclical issue and will pass. But I am unsure how much that explains the flatness. Overall I am much more concerned than the average "second order thinking" press coverage.

Thanks for sharing the graph.

Berkshire's performance going off the expected rails is concerning. It's also concerning that there still doesn't seem to be evidence of Berkshire's pricing catching up/keeping up with the cost inflation that hit last in the last couple years.

Have the Q3 results caused you to consider reducing your BRK allocation? (including Cash that would likely go back into BRK at a more opportunity P/B opportunity)? Or at this point, are you waiting to see how additional quarters play out to get a better indication that "this time is different"?